Sensex Today Ends 184 Points Lower | Tata Chemicals Slips 6% | Reliance & Adani Enterprises Top Losers

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After opening the day marginally higher, Indian share markets reversed the trend as the session progressed and ended lower.

Benchmark indices remained under pressure for the second straight day after registering a 9-day rally amid weakness in IT and power stocks.

At the closing bell, the BSE Sensex stood lower by 184 points (down 0.3%).

Meanwhile, the NSE Nifty closed lower by 47 points (down 0.3%).

HCL Tech, Nestle and Cipla were among the top gainers today.

Power Grid Corporation, Reliance and Adani Enterprises on the other hand, were among the top losers today.

The SGX Nifty was trading at 17,710 down by 54 points, at the time of writing.

The BSE Midcap index rose 0.5% while the BSE SmallCap index ended 0.2% higher.

Sectoral indices ended on a mixed note with stocks in the realty sector, metal sector and healthcare sector witnessing most of the buying.

On the other hand, stocks from the telecom sector, power sector and FMCG sector witnessed selling pressure.

Shares of DLF, ITC and Aditya Birla Capital hit their 52-week high 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...

Outside the home ground, Asian share markets ended on a mixed note.

At the close in Tokyo, the Nikkei ended 0.5% higher, while the Hang Seng fell 0.6%. The Shanghai Composite ended 0.2% higher.

The rupee is trading at 82.04 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% higher at Rs 60,324 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading up by 0.1% at Rs 74,920 per kg.

Speaking of stock market, IEX trades at a lofty PE multiple of close to 48x its trailing twelve-month earnings.

The stock is in a bit of a comeback mode lately having gone up 20% from its 52-week lows.

To know whether the worst is really behind for one of India's most favourite multibaggers of the past few years, check out Rahul Shah's latest video.

IHCL signs two new hotels

In news from the hotel sector, IHCL (Indian Hotels Company Limited), on Tuesday, signed two new hotels in Dhaka, Bangladesh.

The Taj and Vivanta branded hotels will be part of an integrated complex that will be included in hi-end retail. These are greenfield projects.

The first mixed-use development project in Dhaka with the two hotels is strategically located at Gulshan, a key business hub in the city, and a short driving distance from the Shahjalal International Airport.

The 230-room Taj and 130-room Vivanta hotels will offer multiple new culinary options to the city.

The Indian Hotels Company (IHCL) and its subsidiaries, collectively known as Taj Group, is one of Asia's largest and finest group of hotels.

In calendar 2022, shares of the company rose 76% on the back of strong earnings and expansion plans, making it one of the biggest gainers of 2022.

To find out which company is set to benefit from the recovery in the tourism industry, read on Indian Hotels vs Lemon Tree- which hotel stock is better?

Why Schaeffler India shares declined 2% today

Moving on to news from the auto ancillary sector, share price of Schaeffler India declined 2.6% today after it missed street expectations.

Vehicle components maker Schaeffler India on Tuesday posted its smallest quarterly profit growth since June 2020, hit by a drop in demand and margin contraction.

The company's profit climbed 6% to Rs 2.2 billion (bn), while revenue from operations rose 8% to Rs 16.9 bn.

However, its core profit margin contracted to 18.6 from 19.6% a year earlier, as expenses rose over 9%.

Revenue in the company's industrial segment, constituting nearly 32% of total revenue, fell 8.5% in the quarter.

However, an all-round miss led by the domestic industrial and exports segment is what has disappointed the street.

Schaeffler India Limited, previously known as FAG Bearings India, is one of India's major ball and rolling bearing manufacturers servicing the automotive and multiple core industrial segments.

Shares of the company hit a roadblock in December 2022. To know why, check out why Schaeffler India share price is falling.

Avalon Technologies makes weak debut

Moving on to news from the Initial public offerings (IPO) space, Avalon Technologies shares got listed at a mild discount of 1% to the issue price on Tuesday. The shares were listed at Rs 431 per share on BSE against an offer price of Rs 436.

It hit the day's low of Rs 387.75, translating into a fall of 11% from the IPO price. The tepid listing was expected after the downtrend in company shares in the unlisted market since the IPO opened for subscription.

The initial public offering (IPO) of Avalon Technologies was open for subscription between 3 April 2023 and 6 April 2023 as the company was looking to raise Rs 865 crore from the primary markets.

The company's offerings include PCB design and assembly, cable assembly and wire harnesses, sheet metal fabrication and machining, magnetics, injection moulded plastics, and end-to-end box build of electronic systems.

Avalon Technologies has end-to-end capabilities in delivering box-build solutions in India, focusing on high-value precision-engineered products.

For more details, check out the?current IPOs?and?upcoming IPOs?on our website.

And 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!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers