Sensex Today Trades Flat | FMCG Stocks Shine | Marico Rallies 8%, Lupin Falls 3%

Tue, 7 May 10:30 am

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Asian markets traded higher on Tuesday tracking overnight gains on Wall Street.

Japan's Nikkei 225 rose 0.9%, while the Topix gained 0.6%. South Korea's Kospi rallied 1.6%.

The US stock market ended higher on Monday, extending gains for the third straight session.

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

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	169.83	0.84	0.50%	169.9	167.89	176.42	105.79
Apple	181.71	-1.67	-0.91%	184.2	180.42	199.62	164.08
Meta	465.68	13.72	3.04%	466.16	453.34	531.49	230.27
Tesla	184.76	3.57	1.97%	187.56	182.2	299.29	138.8
Netflix	596.97	17.63	3.04%	597.34	580.25	639	322.03
Amazon	188.7	2.49	1.34%	188.75	184.8	189.77	104.7
Microsoft	413.54	6.88	1.69%	413.93	406.37	430.82	306.09
Dow Jones	38852.27	176.59	0.46%	38886.47	38689.38	39889.05	32327.2
Nasdaq	18093.57	202.77	1.13%	18094.46	17937.28	18464.7	13193.08

Source: Equitymaster

At present, the BSE Sensex is trading 24 points higher and NSE Nifty is trading 21 points higher.

Britannia, Nestle and HUL are among the top gainers today.

Bajaj Auto, M&M and Apollo Hospital 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 0.3% lower and the BSE Small Cap index are trading 0.6% lower.

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

The rupee is trading at Rs 83.48 against the US dollar.

In commodity markets, gold prices are trading flat at Rs 71,368 per 10 grams today.

Meanwhile, silver prices are trading flat at Rs 82,982 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.

HPCL Bonus Issue

Hindustan Petroleum Corporation Limited (HPCL) will hold a board meeting on 9 May 2024, to consider and approve the issue of bonus shares to the company's shareholders.

The record date for the bonus issue, if approved, is yet to be determined.

This will be the third instance that HPCL will be issuing bonus shares to its shareholders. It had earlier issued bonus shares in the ratio of 2:1, meaning two free shares for every one held earlier in 2016.

Also, the company had approved a bonus issue in the proportion of 1:2 in 2017.

The companies issue bonus shares to capitalise on their free reserves, increase their Earnings Per Share (EPS) and paid-up capital, along with reducing the reserves. Shareholders are issued these shares at no additional cost and hence are also known as free shares.

Only those investors will be eligible for bonus shares who will buy the stock before the ex-date. If an investor purchases the shares on the ex-date or after that, they will not be eligible to get bonus shares.

HPCL is a Maharatna company involved in refining crude oil and marketing of various petroleum products. This extensive range includes diesel, kerosene, liquefied petroleum gas (LPG), lube oils, petrol, aviation turbine fuel (ATF), and many more.

Drone Destination Partners IFFCO

Drone company Drone Destination on 6 May said it has signed an agreement with cooperative major IFFCO for spraying agricultural products on up to 30 lakh acres of farmland.

According to company officials, under the agreement Drone Destination could get paid in the range of Rs 400 to Rs 800 per acre at prevailing market rates, implying that the deal will fetch a revenue of Rs 1.2 bn in the lower price band and up to Rs 240 at upper price band.

As part of the agreement, Drone Destination will undertake drone spray in 12 states across the country. These states include Andhra Pradesh, Bihar, Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Telangana, Uttar Pradesh, and Uttrakhand.

The drones will spray IFFCO Nano Urea, Nano DAP, Sagarika, IFFCO MC Agro-Chemicals and other IFFCO and IFFCO joint venture's agri products, to enhance agricultural productivity and efficiency.

Other benefits under the agreement include opportunities for the sale of IFFCO agri-inputs and products for drone spray, the statement said.

Godrej Consumer Products Q4 Results

India's Godrej Consumer Products reported a nearly 20% rise in fourth-quarter profit before a one-time charge on Monday, benefiting from higher demand for its home and personal care products.

Rising household incomes and evolving lifestyles have fuelled the growth of consumer goods makers like Godrej Consumer Products, at a time when other companies have reported mixed results.

Consumers are spending more on a variety of the company's offerings, from Cinthol soap to Godrej Expert hair colour.

However, an extended winter in north and east India led to reduced purchases of household insecticide products, the company said last month, while flagging a drop in revenue due to the devaluation of the local currency in Nigeria, where the company has operations.

Rival Dabur India reported a larger-than-expected fourth-quarter profit rise due to stable domestic demand and lower costs, while Hindustan Unilever missed quarterly earnings estimates but said a recovery in rural demand is underway.

Godrej Consumer Products' profit before exceptional items rose to Rs 6.9 bn (US$ 82.8 m) from Rs 5.8 bn a year ago.

However, it posted a net loss of Rs 18.9 bn hurt by a one-time charge of Rs 23.8 bn on account of restructuring costs. Last year it had reported a net profit of Rs 4.5 bn.

Its total revenue from operations rose about 6% to Rs 33.9 bn in the fourth quarter, beating analysts' estimate of Rs 33.5 bn, as per LSEG data.

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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