Sensex Today Trades Lower | Gland Pharma Tanks 13%, Adani Total Gas 5% | ITC & Titan Top Losers

Fri, 19 May 10:30 am

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Asian shares markets are trading higher today on rising hopes that lawmakers in Washington will avert a first-ever US default.

The Nikkei is trading higher by 0.6% and the Hang Seng index is trading 1% lower. The Shanghai Composite is up marginally.

US stocks rallied and the dollar reached a seven-week peak on Thursday as discount retail giant Walmart Inc raised its sales outlook and strong economic data calmed recession fears while also dampening hopes the Federal Reserve would cut interest rates before year-end.

The Dow Jones Industrial Average ended 0.3% higher and the tech heavy Nasdaq Composite ended 1.8% higher.

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

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	123.52	2.04	1.68%	123.90	121.49	123.90	83.45
Apple	175.05	2.36	1.37%	175.24	172.58	176.15	124.17
Meta	246.85	4.37	1.80%	247.09	241.19	247.09	88.09
Tesla	176.89	3.03	1.74%	177.06	172.45	314.67	101.81
Netflix	371.29	31.33	9.22%	375.87	346.37	379.43	164.28
Amazon	118.15	2.65	2.29%	118.60	116.34	146.57	81.43
Microsoft	318.52	4.52	1.44%	319.04	313.72	319.04	213.43
Dow Jones	33,535.91	115.14	0.34%	33,579.91	33,212.09	34,712.28	28,660.94
Nasdaq	13,834.62	245.35	1.81%	13,844.76	13,606.81	13,844.76	10,440.64

Source: Equitymaster

Back home, Indian share markets are trading on a negative note following the trend on SGX Nifty.

At present, the BSE Sensex is trading 101 points lower. Meanwhile, the NSE Nifty is trading down by 45 points.

HCL Technologies and Infosys are among the top gainers today.

ITC and Bajaj Finserv on the other hand are among the top losers today.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

Broader markets are trading on a negative note. Both the BSE Mid Cap index and the BSE Small Cap index are trading 0.9% lower.

Sectoral indices are trading on a negative note with the exception of IT sector. Stocks in the oil and gas sector, power sector and energy sector witness most of the selling.

Shares of Cyient and Credit Access Grameen India hit their 52-week high today.

The rupee is trading at Rs 82.78 against the US dollar.

In commodity markets, gold prices are trading higher by 111 to Rs 59,834 per 10 grams today.

Meanwhile, silver prices are trading higher by 0.4% at Rs 72,393 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, 'sell in May and go away', is an old saying in the stock market.

But does it have merit? Does it work in the Indian market? What do the charts say?

In the below video chartist Brijesh Bhatia answers all these questions.

IndiGo Q4 results

Aviation major IndiGo on Thursday posted a consolidated net profit of Rs 9.2 billion (bn) for the January-March period as against a loss of Rs 16.8 bn in the year-ago period.

Revenue from operations during the March quarter rose 76% year-on-year (YoY) to Rs 141.6 bn. It was Rs 80.2 bn in the corresponding quarter of last year.

Passenger ticket revenues during the fourth quarter rose 81% YoY to Rs 124.5 bn, while ancillary revenues were Rs 14.5 bn, showing an increase of 37% YoY compared to the same period last year.

For the full year, the airline reported a net loss of Rs 3.1 bn. Excluding the foreign exchange impact, the Gurugram-based company posted a profit of Rs 26.5 bn for the financial year 2023.

IndiGo operated at a peak of 1,815 daily flights during the quarter including non-scheduled flights.

Speaking of airline companies, Go First's bankruptcy will result in lower competition for peers like IndiGo, Spicejet etc.

No wonder the share price of IndiGo surged around 10% the next day after the insolvency filing.

In the past one year, shares of the company have gained 34.8%.

Reliance Group set to bring China's big fashion brand back in India

Reportedly, retail arm of the giant Reliance group, Reliance Retail is set to bring Chinese fashion giant Shein to India through a strategic partnership, over two years after the latter's app was banned by the Indian government.

Shein is likely to source from India for other countries as well, since it is facing scrutiny in the US.

The Centre had banned Shein, one of the world's largest fashion retailers, from selling its products in India through its own app over two years back as part of a larger crackdown on Chinese apps following escalated border conflicts.

Shein had created a niche for new styles and accessible price points in India before its app was banned by the home ministry in 2020.

While the app of Shein was blocked on grounds that it was detrimental to national security, the Ministry of Electronics and information Technology (MeitY) had said sale of Shein products on other platforms or websites is not covered under Section 69A and that a blanket order for blocking their sale cannot be passed by the committee constituted under the legal provision.

While some inventory of Shein is available on marketplace Amazon in India, the label is not a scale brand yet in the country.

Reliance has been partnering with fashion labels in various genres and adding Shein will give its fast-fashion portfolio further push through physical stores and online.

Reliance Brands, which adopts a flanking strategy straddling affordable and luxury fashion, has partnerships with luxury labels such as Giorgio Armani, Gas, Hugo Boss, Armani Exchange and Jimmy Choo.

In addition, it has strategic partnership with domestic fashion brands, including designers Manish Malhotra, Abu Jani Sandeep Khosla, Satya Paul, Raghavendra Rathore and Anamika Khanna.

Nazara Technologies' subsidiary to raise funds

Nazara Technologies' subsidiary Nodwin Gaming on Thursday signed a definitive to raise US$ 28 m (about Rs 2,320 m) from new and existing investors.

The majority of these funds will be channelized towards growing the gaming and esports ecosystem of Nodwin by expanding and incubating newer IPs, growing its emerging market footprint and for strategic acquisitions that drive value to the network.

All existing investors of Nodwin Gaming which includes Nazara, KRAFTON, and JetSynthesys will join new incoming investors in this funding round.

To know what's moving the Indian stock markets, 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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