Sensex Today Rallies 676 Points | Hindustan Aeronautics Rallies 9% | 3 Reasons Why Indian Share Market is Rising

Thu, 16 May Closing

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After opening the day on positive note, Indian share markets continued the momentum as the session progressed and ended on firm footing.

Benchmark indices swung sharply in trades on Thursday as investors adjusted their positions during the weekly F&O expiry.

At the closing bell, the BSE Sensex stood higher by 676 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 203 points (up 0.9%).

M&M, Bharti Airtel, and Tech Mahindra were among the top gainers today.

Maruti Suzuki, Tata Motors and SBI on the other hand, were among the top losers today.

The GIFT Nifty was trading at 22,482, up by 223 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% higher.

Sectoral indices are trading positive with socks in realty sector, IT sector and FMCG sector witnessing most buying.

Shares of Hitachi Energy, ABB India and SKF India 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 83.49 against the US$.

Gold prices for the latest contract on MCX are trading marginally lower at Rs 73,070 per 10 grams.

Meanwhile, silver prices were trading 0.3% higher at Rs 87,121 per 1 kg.

Here are three reasons why Indian Markets are rising today

#1 Upbeat Global Market

Asian equities rallied Thursday after US data showed inflation cooled last month, fuelling speculation that the Federal Reserve will cut interest rates twice this year.

The news sent all three main indexes on Wall Street to record highs, with confidence given an extra boost by figures showing retail sales well below expectations, suggesting consumers were taking a step back.

#2 Rupee Factor

The Indian rupee rose slightly on Thursday, aided by a drop in US bond yields and a weak dollar after soft US inflation data boosted hopes that the Federal Reserve may begin easing policy rates from September.

#3 Index Heavyweights Rally

M&M, Tata Consumer Products, Tech Mahindra, Infosys, Titan and HDFC Life were the top gainers on the 50-stock index, rising between 2% and 4%, driving the market sentiment

Speaking of stock market, the prospects of pharma stocks globally are tied to what is called the patent lifecycle of drugs.

The last phase of this lifecycle in the US generics market is known as 'Patent Cliff'. This is when products go off-patent i.e. they lose the regulatory exclusivity on selling a particular drug.

After this phase the drugs become 'generics', a category that Indian pharma companies have developed expertise in.

Drug makers in India have been making generic versions of the off-patent drugs for decades, at a fraction of the cost.

Tanushree Banerjee, Research Analyst at Equitymaster talks about what is new upside now in her latest video.

HAL Q4 Results

Leading defence public sector utility Hindustan Aeronautics on 16 May reported a 52% year-on-year growth in net profit at Rs 43.1 bn.

The company's revenue from operations jumped 18% year-on-year to Rs 147.7 bn for the quarter ended March. The same stood at Rs 124.9 bn in the corresponding quarter of last year.

On a sequential basis, profit more than doubled from Rs 12.6 bn reported in the preceding December quarter. Revenue, too, rose by a massive 140% quarter-on-quarter (QoQ), Q3 is a historically weak quarter for HAL.

HAL, whose customers include the Indian Army, Navy and Air Force, along with aerospace corporations Airbus and Boeing, said its margins during the March quarter improved to 35% as against 25.9% a year ago.

For the March quarter, the state-owned defence major's expenses fell 8% to Rs 95.4 bn from Rs 103.6 bn a year ago.

The company has reported an EBITDA (earnings before interest, tax, depreciation and amortisation) of Rs 54.7 bn during the January-March period, which is higher by 60%, compared with Rs 32.4 bn in the year-ago period.

For the full year ended March 2024, HAL's consolidated net profit increased 31 percent to Rs 76.2 bn crore as compared to Rs 58.3 bn posted in FY23.

Revenue from operations during the year jumped 13% to Rs 303.8 bn. The same stood at Rs 269.3 bn in fiscal 2023.

During the March quarter, the government came up with an Offer for Sale (OFS) in HAL, which managed to sail through despite tough market conditions.

For more, check out our recent editorial on top 5 PSU Defence stocks.

M&M Q4 Results

Auto major Mahindra & Mahindra Ltd (M&M) said on 16 May that its standalone net profit rose 32% in March quarter to Rs 20.4 bn owing to robust performance of the automotive segment, favourable product mix, and operating leverage benefits. It reported standalone net profit of Rs 15.5 bn in the year-ago period.

The homegrown automaker's standalone revenue from operations rose 11% to Rs 251.1 bn in Q4FY24 as against Rs 225.7 bn in a year ago.

The carmaker said its board approved dividend of Rs 21.1 per equity share of Rs 5 face value.

Mahindra sold 27.2% more SUVs in the quarter from a year earlier.

The company's automotive business brings in almost two-thirds of total revenue and includes the sale of commercial vehicles and SUVs such as Scorpio and Thar.

However, earnings for India's largest tractor-maker by sales were pressured by a 21.5% fall in tractor and farm equipment sales, as sub-par rains affected rural demand.

For more details, check out Top 3 Auto Stocks Leading India's Vehicle Scrapping Revolution.

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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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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