Sensex Today Trades Higher | Nifty Above 22,650 | REC Jumps 5%, Federal Bank 3%

Thu, 2 May 10:30 am

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Asian stocks got off to a shaky start on Thursday after the Federal Reserve flagged delays to interest rate cuts, while the dollar fell heavily on the yen in what traders reckoned was Japanese intervention.

Japan's Nikkei fell 0.7% at the open and South Korean shares lost 0.5%.

The US stock market ended mixed on Wednesday after the Federal Reserve's monetary policy announcement.

Here's a table showing how US stocks performed on Wednesday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	165.56	0.91	0.56%	168.81	164.9	176.42	104.5
Apple	169.3	-1.03	-0.60%	172.71	169.11	199.62	164.08
Meta	439.1	8.93	2.08%	449.96	427.11	531.49	229.85
Tesla	180	-3.29	-1.79%	185.86	179.01	299.29	138.8
Netflix	551.76	1.12	0.20%	560.39	544.25	639	315.62
Amazon	178.86	3.86	2.21%	185.15	176.56	189.77	101.15
Microsoft	395.13	5.8	1.49%	401.72	390.31	430.82	303.4
Dow Jones	37903.29	87.37	0.23%	38349.2	37780.54	39889.05	32327.2
Nasdaq	17318.55	-122.14	-0.70%	17667.86	17284.37	18464.7	12938.45

Source: Equitymaster

At present, the BSE Sensex is trading 133 points higher and NSE Nifty is trading 38 points higher.

M&M, BPCL and Asian Paints are among the top gainers today.

Hindalco, Adani Ports and Maruti Suzuki the other hand are among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets are trading on positive note. The BSE Midcap index is trading 0.7% higher and the BSE Small Cap index are trading 0.3% higher.

Sectoral indices are trading mixed, with socks in power sector and FMCG sector witnessing buying. Meanwhile stocks in realty sector and IT sector witnessed selling pressure.

The rupee is trading at Rs 83.43 against the US dollar.

In commodity markets, gold prices are trading 0.6% higher at Rs 71,142 per 10 grams today.

Meanwhile, silver prices are trading 0.2% higher at Rs 81,410 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock markets, Rahul Shah, Co-head of Research at Equitymaster argues that it's better to analyze a company first to determine its intrinsic value before looking at the market price to avoid bias.

We try this technique on a prominent Tata group stock and come away with a surprising result.

Tune in to find out the result.

Coal India Production Rises

State-owned CIL on Wednesday said its production increased 7.3% to 61.8 million tonnes (MT) in April.

The company had produced 57.6 MT of coal in the corresponding month of the previous fiscal.

CIL accounts for over 80% of domestic coal production.

The company's coal offtake also registered a rise of 3.2% to 64.3 MT last month, over 62.3 MT in the year-ago period.

Coal offtake is the amount of dry fuel supplied from the pitheads.

Of the 61.8 MT of coal produced by CIL last month, a maximum of 16 MT was produced by Mahanadi Coalfields Ltd (MCL) followed by 14.1 MT by South Eastern Coalfields (SECL) and 11.8 MT by Northern Coalfields Ltd among others.

For more, check out Will PSU Stocks Rule Once Again in 2024? Top 5 PSU Companies to Watch out...

Wipro Bags Multi-Million Dollar Deal

Wipro said that it has been selected by Nokia to overhaul its employee service desk and provide seamless, real-time IT support to a global network of employees.

The Wipro team will build a bespoke AI-powered, cloud-based solution for Nokias workforce comprising around 86,700 users globally in 130 countries of operations. The solution aims to enhance the employee experience by providing highly available, modular, secure, and automated services.

The solution aims to enhance the employee experience by providing highly available, modular, secure, and automated services, Wipro said.

Designit, a Wipro company specialising in user experience strategy and implementation, will conduct user research to ensure personalised assistance is offered to employees at the right time.

This project will result in the creation of an experience-driven, omni-channel, and always-on global service desk, which will provide employees with highly flexible and secure services to empower them to effectively navigate a hybrid work environment.

Wipro is a leading technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs.

Tata Motors Q4 Sales Rise

Tata Motors, an Indian multinational automotive company, has announced an 8% year-on-year (YoY) increase in global wholesales for the fourth quarter of financial year 2024 (Q4 FY24). The company sold a total of 377,432 units during the quarter, showing a positive performance across key segments.

Passenger vehicle (PV) wholesales emerged as a strong growth driver for Tata Motors in Q4 FY24, with a 15% YoY increase to 155,651 units. This growth can be attributed to a 16% YoY surge in wholesales to 110,190 units during this quarter due to the constant popularity of Jaguar Land Rover vehicles.

Jaguar Land Rover, a subsidiary of Tata Motors, continued to show its growth momentum in Q4 FY24. The iconic British carmaker's wholesales increased by 16% YoY to 110,190 units. This excludes those from the joint venture with Chery Automobiles in China.

Meanwhile, Tata Motors' commercial vehicle wholesales (including those from Tata Daewoo) declined by 6% YoY to 111,591 units.

Tata Motors' overall performance in Q4 FY24 remained positive despite the decline in commercial vehicle wholesales. The company's strong performance in the passenger vehicle segment helped offset the decline in commercial vehicle sales.

For more details on Tata Motors, check out the Top 3 Auto Stocks Leading India's Vehicle Scrapping Revolution.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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