Sensex Today Ends 17 Points Higher | Midcap & Smallcap Stocks Fall 1% | MRPL Tanks 8%

Mon, 6 May Closing

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After opening the day on positive note, Indian share markets reversed the trend as the session progressed and ended lower.

After starting higher on Monday, lifted by healthy global cues, Indian equity markets ended flat amid selling in financial shares.

At the closing bell, the BSE Sensex stood higher by 17 points.

Meanwhile, the NSE Nifty closed lower by 33 points (down 0.2%).

TCS, HUL and M&M were among the top gainers today.

Titan, BPCL and SBI on the other hand, were among the top losers today.

The GIFT Nifty was trading at 22,586, up by 6 points, at the time of writing.

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

The BSE MidCap index ended and BSE SmallCap index ended 1% lower.

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

Shares of ABB India, BASF India and M&M hit their respective 52-week highs 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...

The rupee is trading at 83.48 against the US$.

Gold prices for the latest contract on MCX are trading 0.8%t higher at Rs 71,240 per 10 grams.

Meanwhile, silver prices were trading 1.8% higher at Rs 82,535 per 1 kg.

Speaking of stock markets, Rahul Shah, Co-head of Research at Equitymaster argues that it's better to analyse 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.

Why Tata Technologies Share Price is Falling

In news from the software sector, shares of Tata Technologies slumped 5% on 6 May as the company's weak results for the March 2024 quarter disappointed investors.

Tata Technologies highlighted that the anticipated ramp down within VinFast, a key customer, led to a decline in services revenue during the quarter. It expects to see further run-off from VinFast in the June quarter as well.

Services business for Tata Technologies fell by 1% sequentially in constant currency terms. Ex-VinFast, the services business grew by 10% sequentially.

Revenue from the VinFast account will further moderate in Q1 of financial year 2025 before stabilising and the account will continue to be a drag on revenue growth in financial year 2025.

Tata Technologies' primary business line is services, which includes providing outsourced engineering services and digital transformation services to global manufacturing clients helping them design better products for their customers.

Britannia Jumps 10%

Moving on to news from the FMCG sector, shares of Britannia industries rallied 9% despite the FMCG major despite the FMCG major reporting a 3.6% year-on-year (YoY) decline in net profit to Rs 5.4 billion (bn) in Q4 of FY24.

On a sequential basis, the net profit saw a decline of 3.2% over Rs 5.6 bn reported in Q3FY24. The revenue stood at Rs 41.3 bn, down by 4.2% versus Rs 43.1 bn in Q3FY24.

For the year ended 31 March 2024, the consolidated revenue stood at Rs 165.5 bn up by 3.5% over the previous year and the operating profit stood at Rs 28.7 bn growing by 10.1%, which was 17.3% of the sales.

The company expanded its distribution network, reaching approximately 27.9 lakh outlets directly and added around 2,000 rural distributors over the past year.

Paytm Slumps 4%. Here's Why.

Moving on to news from the fintech sector, shares of Paytm fell over 4.5% on 6 May after the digital payments and financial services firm announced the resignation of its COO and president, Bhavesh Gupta, via a regulatory filing over the weekend.

According to the filing, Gupta in a letter said that his resignation would be effective as of the close of business hours on 31 May 2024.

He, however, expressed his intention to continue supporting the company in an advisory capacity within the chief executive's office.

In his resignation letter, Gupta cited personal reasons for taking a career break and expressed confidence in Paytm's future trajectory, acknowledging the robust leadership in payments and financial services developed over recent years.

firm announced the resignation of its COO and president, Bhavesh Gupta, via a regulatory filing over the weekend.

According to the filing, Gupta in a letter said that his resignation would be effective as of the close of business hours on 31 May 2024. He, however, expressed his intention to continue supporting the company in an advisory capacity within the chief executive's office.

In his resignation letter, Gupta cited personal reasons for taking a career break and expressed confidence in Paytm's future trajectory, acknowledging the robust leadership in payments and financial services developed over recent years.

In the quarter gone by, Paytm exhibited strong revenue growth on the back of distributing loans on its platform, which was also a high-margin business. The lending platform's commission contributed around 20% to the company's revenue and around 25% to its margin.

However, after the RBI ban on PPBL, the company has paused lending activities for more than a month. This is likely to have impacted the company's topline and bottom line more than it predicted in an investor conference call.

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

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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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