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Sensex Today Trades Lower | Nifty Below 22,200 | Sonata Software Tanks 14%

Wed, 8 May 10:30 am

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Stocks in Asia struggled to find direction after a slow US session, with investors divided on whether the market can maintain this month's advance.

Australia's and South Korea's stocks increased while those in Japan declined. Hong Kong futures indicated a flat open.

US equities remained stable on Tuesday, according to an AP news report, as Wall Street trade eased after some recent major swings.

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

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	172.98	3.15	1.85%	173.47	170	176.42	105.79
Apple	182.4	0.69	0.38%	184.9	181.32	199.62	164.08
Meta	468.24	2.56	0.55%	471.53	461.31	531.49	230.27
Tesla	177.81	-6.95	-3.76%	183.26	177.4	299.29	138.8
Netflix	606	9.03	1.51%	606.05	591.32	639	322.03
Amazon	188.76	0.06	0.03%	189.94	187.31	189.94	104.7
Microsoft	409.34	-4.2	-1.02%	414.67	409.09	430.82	306.09
Dow Jones	38884.26	31.99	0.08%	38977.61	38840.4	39889.05	32327.2
Nasdaq	18091.45	-2.12	-0.01%	18156.32	18061.61	18464.7	13193.08

Source: Equitymaster

At present, the BSE Sensex is trading 150 points lower and NSE Nifty is trading 32 points lower.

BPCL, Coal India, ONGC are among the top gainers today.

Asian Paints, L&T and HUL 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 0.3% higher and the BSE Small Cap index are trading 0.2% higher.

Sectoral indices are trading mixed, with socks in metal sector, energy sector and oil & gas sector witnessing buying. Meanwhile stocks in realty sector, IT sector and healthcare sector witnessed selling pressure.

The rupee is trading at Rs 83.51 against the US dollar.

In commodity markets, gold prices are trading flat at Rs 71,235 per 10 grams today.

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, with advancements in artificial intelligence (AI) and large language models (LLM), India's indigenous tech sector is at an inflection point.

AI breakthroughs will profoundly augment how we work and live.

Tanushree Banerjee, Research Analyst at Equitymaster talks about how should one find the best deep tech stocks in her latest video

Tune in to find out more.

Tata Elxsi Collaborates with Arm

To accelerate software development cycles for next-generation vehicles.

Tata Elxsi has collaborated with Arm, the global semiconductor designs and software platform to offer advanced solutions on the latest Arm processor, which will help automotive OEMs and Tier-1s fast-track their transition to software-defined vehicles (SDVs).

Automotive architectures are evolving from a distributed and domain-based paradigm to SDV, which includes the use of high-performance computing (HPC).

This evolution requires a strategic shift in software development, validation, and deployment philosophies.

Make: Your Investing Stress-free with Value for Money Stocks

Tata Elxsi brings its extensive portfolio of SDV solutions through Tata Elxsi AVENIR, a SOAFEE-based software suite that enables the development, integration, building, testing, and deployment of applications entirely on the cloud with ease for OEMs and suppliers.

Through this technology collaboration, Tata Elxsi will make this software suite available on the latest Arm Automotive Enhanced (AE) technology that will power the high-performance requirements of next-generation vehicles.

Tata Elxsi AVENIR includes a cloud-native development and validation environment, that enables seamless collaboration to develop and validate SDV functionalities, a Connected Digital Twin Framework, which enables easier adoption and management of digital twins and a pre-integrated subscription management software.

This allows end users to subscribe to automotive features on demand.

For more, check out Best Midcap IT Stocks: Tata Elxsi vs KPIT Technologies.

JSW Energy Q4 Profit Jumps 22%

JSW Energy saw its consolidated net profit jump by 22.4% year-on-year to Rs 3.5 billion (bn) in the March quarter, driven by strong performances from its thermal energy portfolio and a surge in the short-term market.

The revenue from operations of the Sajjan Jindal-led JSW Group's power utility rose to Rs 27.6 bn in Q4 FY24 from Rs 26.7 bn a year earlier.

For the fourth quarter, earnings before interest, tax, depreciation, and amortisation (EBITDA) increased 47% to Rs 12.9 bn. The EBITDA margin was 45% compared to 31% during the same quarter last year.

Separately, the board recommended a dividend of Rs 2.0 per share subject to approval of the shareholders.

The company said it expects the power sector outlook to remain healthy over the medium term, aided by rapid urbanization, government-led capex and a strong investment cycle.

JSW Energy is looking at backward integration by getting into manufacturing wind and solar power equipment to de-risk its growth plans from supply chain disruptions.

It is also working on plans for battery storage manufacturing to fuel the group's entry into the electric vehicle segment.

Voltas Q4 Results

Air conditioning and engineering services provider Voltas Ltd on Tuesday reported a 22.8% decline in consolidated net profit to Rs 1.1 bn in the fourth quarter ended 31 March 2024, impacted by higher expenses.

The company had posted a consolidated net profit of Rs 1.4 bn in the same period previous fiscal.

Consolidated revenue from operations during the quarter under review stood at Rs 42 bn against Rs 29.6 bn in the year-ago period.

Total expenses in the fourth quarter were higher at Rs 40.4 bn compared to Rs 27.6 bn in the corresponding period a year ago.

In the fourth quarter, the unitary cooling products business segment revenue grew by 44% to Rs 29.6 bn compared to Rs 20.5 bn in the corresponding quarter of the previous year on account of a better product mix enhancement approach.

The engineering products and services division clocked revenue of Rs 1.6 bn compared to Rs 1.4 bn in the year-ago period.

Similarly, the electro-mechanical projects and services segment comprising domestic and international projects businesses grew by 38% year-on-year due to a healthy carry forward order book position.

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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