Sensex Today Ends Flat | SpiceJet Sinks 14% | Eicher Motors & Adani Enterprises Top Gainers

Tue, 23 May Closing

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After opening the day higher, Indian share markets erased the day's gains at the fag end of the session to end flat.

Benchmark indices came off highs in fag-end but were largely higher as market awaited a deal on the US debt ceiling.

At the closing bell, the BSE Sensex stood higher by 18 points.

Meanwhile, the NSE Nifty closed up by 18 points (up 0.2%).

Adani Enterprises, and Eicher Motors were among the top gainers today.

Titan and Tech Mahindra on the other hand, were among the top losers today.

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

The SGX Nifty was trading at 18,361, up by 26 points, at the time of writing.

Broader markets ended on a mixed note. The BSE Midcap index ended 0.4% higher while the BSE SmallCap rose marginally.

Sectoral indices ended on a mixed note with stocks in the power sector and oil & gas sector witnessing most of the buying.

On the other hand, stocks from the IT sector and capital goods sector witnessed selling pressure.

Shares of Ceat & ICICI Bank hit their 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...

Asian stock markets ended on a negative note. The Nikkei ended lower by 0.4%, while the Hang Seng was down 1.3%. The Shanghai Composite ended 0.4% lower.

The rupee is trading at 82.84 against the US$.

Gold prices for the latest contract on MCX are trading 0.8% lower at Rs 59,761 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading lower by 2.2% at Rs 71,170 per kg.

Speaking of stock markets, has the market overreacted in punishing the stock of Crompton Greaves Consumer Electrical?

Find out why research analyst, Aditya Vora, believes buying stocks based on only valuations is not a smart thing to do.

Tata Motors 50 Magna order win

In the news from the automobile sector, Tata Motors today bagged an order for 50 Magna 13.5 meter buses from Vijayanand Travels.

As per the contract, Tata Motors will deliver Magna buses to Vijayanand Travels in a phased manner.

Magna buses are known for their design, advanced features and comfort. These fully built BS6 diesel buses are also fuel efficient.

It is one of the luxury buses that is breaking into the traditional bus segment by offering great safety features and the utmost comfort.

This partnership further strengthens our commitment to delivering exceptional quality, performance, and customer satisfaction.

Tata Motors is among the 2 Tata Group stocks that started 2023 with a bang.

Tata Motors is the country's leading player in the commercial vehicle segment.

However, in the EV market, the company is leading the EV revolution with more than 80% market share in passenger EV sales.

The company witnessed exponential sales growth in 2022 as it sold close to 20,000 units, driving the e-mobility practically independently. This has made tata motors among the top 5 EV manufacturers to add to your watchlist.

Note that the?electric vehicle (EV) megatrend?is a once in a century revolution happening right in front of us.??

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and?India's top EV stocks?are set to benefit from this shift.?

It remains to see how all this pans out.

Why Shree Cement share price is rising despite margin dip

Moving on to news from the cement sector, shares of Shree Cement's share price surged over 3.5% today.

The stock experienced a gain of 3.88% during early trading, driven by the company's improved performance compared sequentially.

Although Shree Cement's standalone net profit for Q4FY23 decreased by 15.3% YoY, its net profit almost doubled, and EBITDA rose by 26% sequentially.

The company's revenue from operations in the quarter increased by 16.7% YoY to Rs 47.8 bn compared to the year-ago period. This growth was supported by a 10% YoY increase in cement volumes, driven by a pickup in industry-wide demand.

The company, for the financial year 2023, has also announced a second interim dividend of Rs 55 per share.

Going forward, the company aims to achieve a capacity utilization rate that aligns with the industry average and anticipates capacity additions in the East and North regions this year.

The company expects to grow at around 12 to 13%, exceeding the market growth outlook of 7 to 8% due to new capacity expansions.

For a detailed analysis of Shree Cement, check out Equitymaster's Indian stock screener for screening top cement stock in India.

Adani Ports recoups all Hindenburg Report losses

Moving on to news from the port sector, Shares of Adani Ports and Special Economic Zone (APSEZ) rose nearly 8% today, reversing the losses triggered by US short-seller Hindenburg Research's scathing report in January.

The company's market cap briefly touched Rs 1.6 tn, which was around the level it was at before the short-seller attack.

The rally in the stock sparked after a Supreme Court-appointed expert panel said last week that it was not possible to conclude whether there had been regulatory failures related to alleged price manipulation.

The panel went on to add that there was evidence of a build-up in short positions on Adani Group stocks before Hindenburg Research released its report in January.

Apart from Adani ports, all 10 Adani stocks were trading positively, with Adani Enterprises leading the pack by rallying up to 13% during the day. Adani Wilmar, Adani Power, Adani Transmission, Adani Green, Adani Total Gas and NDTV were up at least 5%.

When seen from its 2023 lows, shares of Adani Enterprises and Adani Green have more than doubled, with the group taking several steps to win investor confidence.

For more details, check out Equitymaster's Indian stock screener which shows all the Adani group companies' fundamental analysis on one screen.

Dig deeper into Adani group stocks.

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!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

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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Indian Share Market Update: Top Gainers and Losers