Sensex, Nifty50 rise in morning trade led by FMCG, energy and auto stocks
- India’s benchmark indices Sensex and Nifty50 gained in morning trade on Tuesday amidst mixed cues in global markets.
- The gains were led by a surge in FMCG, energy and auto stocks.
- Both Sensex and Nifty50 were trading 0.3% higher, with Sensex at 63,000 points and Nifty50 at 18,660 points.
AdvertisementIndia’s benchmark indices Sensex and Nifty50 gained in morning trade on Tuesday amidst mixed cues in global markets. The gains were led by a surge in FMCG, energy and auto stocks.
Both Sensex and Nifty50 were trading 0.3% higher, with Sensex at 63,000 points and Nifty50 at 18,660 points.
Top gainers and losers on Nifty50
|Top gainers||Change||Top losers||Change|
|Apollo Hospitals||2.87%||Adani Ports & SEZ||-0.85%|
|JSW Steel||2.09%||Sun Pharma||-0.80%|
|UltraTech Cement||1.54%||SBI Life||-0.78%|
|HCL Tech||0.96%||HDFC Life||-0.67%|
Source: NSE, as on May 30, 2023
Earlier on Monday, markets closed the day 0.6% in the green led by a rally in consumer durables, metals and financial services stocks.
Gold prices edged lower to ₹59,500 per 10 grams while silver was hovering at ₹71,100 per kilogram. Crude oil prices edged up, with Brent crude hovering at $77 per barrel.
Global markets mixed amidst slow progress on US debt ceiling
Global markets were mixed amidst a deadlock in the US debt ceiling talks. While US markets were closed on Monday, European markets closed in the red with France’s CAC index falling 0.21%, while Germany’s DAX closed 0.2% lower.
Asian markets remained mixed on Tuesday, with KOSPI gaining 0.84% while Taiwan Weighted was trading flat. Hang Seng fell 0.46%, while Nikkei 225 was trading 0.37% lower. Shanghai Composite was down 0.33%.
Stocks to watch
Earnings today: Adani Ports & SEZ, Mankind Pharma, Apollo Hospitals, Astrazeneca Pharma India, Lux Industries, Mazagon Dock, Patanjali Foods, PC Jeweller, Torrent Pharmaceuticals, among others.
Reliance Industries: Viacom18 has entered into a multi-year partnership with NBC Universal to bring popular shows and movies of the company to the JioCinema streaming service. This includes titles like The Office, Suits, Downton Abbey, among others.
IRCTC: It reported a 30% YoY rise in its standalone net profit to ₹279 crore in Q4, while revenue surged 40% to ₹965 crore. It announced a final dividend of ₹2 per share for FY23.
Rail Vikas Nigam: Its net profit fell 5% YoY to ₹359 crore, while revenue fell 11% to ₹5,720 crore. The state-owned company reported an improvement in operating margins, however, due to lower expenses during the quarter.
Sobha: The real estate company reported a 242% YoY growth in net profit to ₹49 crore in Q4, driven by topline growth. Its revenue surged 70% during the period to ₹1,210 crore. It has announced a dividend of ₹3 per share.
Adani Transmission: The Adani group company reported an 86% YoY rise in net profit to ₹440 crore, while its revenue grew 13% to ₹3,358 crore.
Airtel, not Jio, to gain the most from Vodafone Idea's troubles
LIC shares surge over 3% after it posts a five-fold jump in Q4 net profit
Big boys drive Nifty50’s revenue and profit growth in FY23
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