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Sensex Today Trades Higher | Nifty Above 22,500 | Godrej Properties & Deepak Nitrite Up 6%
Mon, 6 May 10:30 am

Sensex Today Trades Higher | Nifty Above 22,500 | Godrej Properties & Deepak Nitrite Up 6%

Asian markets traded higher tracking a rally on Wall Street after US jobs data.

Japan and South Korea's markets are shut for a public holiday. Hong Kong's Hang Seng index futures indicated a higher opening.

The US stock market ended sharply higher on Friday as a softer-than-expected employment report bolstered the case for US Fed rate cuts.

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

Stock/IndexLTPChange ($)Change (%)Day HighDay Low52-Week High52-Week Low
Alphabet.0.550.33%169.85164.98176.42104.7
Apple183.3610.335.97%187182.66199.62164.08
Meta452.0510.372.35%454.17443.85531.49229.85
Tesla181.141.130.63%184.78178.42299.29138.8
Netflix579.3414.192.51%580.26565.16639317.95
Amazon186.241.510.82%187.87185.42189.77103.31
Microsoft406.668.822.22%407.15401.86430.82303.4
Dow Jones38675.68450.021.18%38808.5238518.2839889.0532327.2
Nasdaq17890.79349.251.99%17926.9817784.7818464.712938.45
Data Source: Equitymaster

At present, the BSE Sensex is trading 377 points higher and NSE Nifty is trading 60 points higher.

Britannia, TCS and IndusInd Bank are among the top gainers today.

Titan, Coal India and SBI 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 negative note. The BSE Midcap index is trading 0.6% lower and the BSE Small Cap index are trading 0.3% lower.

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

The rupee is trading at Rs 83.44 against the US dollar.

In commodity markets, gold prices are trading 0.3% higher at Rs 70,876 per 10 grams today.

Meanwhile, silver prices are trading 1% higher at Rs 81,908 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, 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 Power's subsidiary Partners SJVN

Tata Power Renewable Energy Ltd (TPREL) on Saturday said it has signed an agreement with state-owned SJVN Ltd to set up a 460 MW Firm and Dispatchable Renewable Energy (FDRE) project.

An FDRE plant enables round-the-clock power supply, assisting power distribution companies (discoms) in fulfilling their Renewable Purchase Obligations (RPOs) and Energy Storage Obligations (ESOs).

The plant is expected to generate nearly 3,000 million units (MUs) of power and offset 2,200 million kgs of CO2 emissions annually.

This partnership with SJVN Ltd will witness the deployment of sustainable energy solutions from TPREL. It will go a long way in meeting the green energy objectives of SJVN.

This partnership with SJVN will witness the deployment of sustainable energy solutions from TPREL. It will go a long way in meeting the green energy objectives of SJVN.

Tata Power has transformed into India's undisputed energy powerhouse. Its grip extends across the electricity value chain, including generation, transmission and distribution.

Over the past year, Tata Power stock has demonstrated impressive growth, soaring approximately 107% from Rs 190 to Rs 394 in March 2024.

chart

Dr Reddy's Capsules Launch

Drug firm Dr Reddy's Laboratories Ltd on Friday (3 May) said it launched doxycycline capsules, 40 mg in the US market, a therapeutic generic equivalent of ORACEA (doxycycline, USP) capsules.

The doxycycline capsules, 40 mg, were approved by the US Food and Drug Administration (US FDA) and are supplied in bottle counts of 30.

Each capsule contains 26 mg immediate-release pellets and 14 mg delayed-release pellets equivalent to 40 mg of anhydrous doxycycline, USP.

Last month, Dr Reddy's Laboratories voluntarily recalled six lots of medication from the US market, indicated to reduce blood phenylalanine (Phe) levels, on account of being subpotent.

The company is recalling lots of sapropterin dihydrochloride powder for oral solution 100 mg to the consumer level due to powder discolouration in some packets leading to decreased potency.

The issue was discovered during an accelerated stability test in addition to customer complaints, it added. Reduced efficacy of the product would result in elevated Phe levels in patients.

Chronically elevated Phe levels in infants and children are likely to cause permanent neurocognitive deficits, including permanent and irreversible intellectual disability, developmental delay, and seizures.

BSE, NSE spar over derivatives markets

India's top stock exchanges are luring investors with new products and lower fees as they battle for a share of the hot but fledgling derivatives market, in turn fuelling a surge in trading activity that is drawing regulatory scrutiny.

The larger National Stock Exchange of India and its older rival BSE are wrestling for dominance in derivatives, particularly the raging options market spurred by the introduction last year of short-term contracts that can be traded with borrowed funds.

The monthly notional value of derivatives traded on Indian exchanges exploded to an eye-popping 8,737 trillion rupees (US$ 104.65 trillion) in March 2024, more than double that of a year earlier.

The NSE plans to launch options contracts based on key sectoral indices, including the pharmaceutical and IT indices if it gets the regulatory go-ahead.

In April, it launched option contracts on a Nifty Next 50 index of the 50 largest stocks which are not in the benchmark Nifty index.

It has reduced transaction fees and a wider review to further reduce charges is underway, said the sources.

Not to be left behind, the BSE plans to launch options contracts based on indices of the top 50 and top 100 companies by market value.

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


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