Sensex Today Ends 220 Points Lower | Nifty Below 22,900 | Adani Power Drops 4%

Tue, 28 May Closing

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After opening the day marginally higher, Indian share turned negative as the session progressed and ended the day lower.

Benchmark S&P BSE Sensex, and the Nifty50 took a breather on Tuesday after hitting record highs for three consecutive days.

At the closing bell, the BSE Sensex stood lower by 220 points 9down 0.3%).

Meanwhile, the NSE Nifty closed lower by 44 points (down 0.2%).

Grasim Industries, Hero MotoCorp and HDFC Life Insurance among the top gainers today.

Adani Ports, BPCL and Coal India on the other hand, were among the top losers today.

The GIFT Nifty was trading at 22,932 down by 100 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 0.6% lower and BSE SmallCap index ended 1% lower.

Sectoral indices are trading on negative note with socks in power sector, telecom sector and realty sector witnessed selling pressure

Shares of TVS Holdings, Thermax, Oberoi Realty 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 83.17 against the US$.

Gold prices for the latest contract on MCX are trading 0.3% lower at Rs 71,830 per 10 grams.

Meanwhile, silver prices were trading 0.3% lower at Rs 94,296 per 1 kg.

Speaking of stock market, Research Analyst, Richa Agarwal, in her latest video talks that While data is the new gold, the data center ecosystem could be the goldmine to strike it rich.

Tune in for list of stocks to ride this opportunity.

Why Bharat Dynamics Share Price is Falling

In news from the defence sector, shares of Bharat Dynamics have been on a roll, extending gains for the massive ten trading sessions until 28 May, when shares slipped 7% to Rs 1,431 as investors rushed to profits post the stellar rally in the counter.

The company has recently announced its first-ever stock split, dividing one equity share with a face value of Rs 10 into two shares with a face value of Rs 5 each.

The company said that such a move is to comply with the Department of Investment and Public Asset Management's (DIPAM) guidelines on capital restructuring. Additionally, the split aims to encourage wider participation from small investors and enhance liquidity in the shares.

The mini Ratna PSU is not the sole defence stock witnessing a recent significant surge, benefiting from the 'Make in India' initiative and amidst escalating geopolitical tensions between Russia and Ukraine, as well as in the Middle East, and amidst challenging US-China relations.

The company will declare its fiscal fourth quarter results on 30 May 2024.

Bharat Dynamics is one of India's manufacturers of ammunitions and missile systems.

The company was established in the year 1970 to be a manufacturing base for guided weapon systems.

Starting with a pool of engineers drawn from Indian ordnance factories, DRDO and aerospace industries, Bharat Dynamics began by producing a first generation anti-tank guided missile - the French SS11B1.

For more, check out Stock Split Alert: Miniratna PSU Announces First Ever Stock Split.

Why Va Tech Wabag Share Price is Rising

Moving on to news from the engineering sector, shares of Va Tech Wabag rose today after the company bagged an Operation & Maintenance order worth Rs 850 m.

The company constructed this 8 MLD desalination plant over 10 years ago and was responsible for the O&M of the plant until 2018.

This long-term O&M order which has been won against international competition entails O&M of the plant, the seawater intake and outfall systems.

The water produced from this plant will be used for domestic consumption in the Duqm & Haima areas of Al Wusta Governorate.

VA Tech Wabag is a complete water treatment solution provider. Its activities include the design, supply, installation, construction, and operational management of drinking water, wastewater, industrial water treatment and desalination plants.

The company operates in over 25 countries and has executed over 1,400 projects since 1995.

DOMS Industries Stock Hits All-Time High

Moving on, shares of DOMS Industries rallied over 10% to hit an all-time high after the stationary company reported an upbeat January-March quarter (Q4FY24) performance.

DOMS Industries' revenue rose 20% year-on-year (YoY) to Rs 4 bn in Q4FY24, while earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 22% YoY to Rs 760 m.

The company's net profit grew 29% YoY to Rs 470 m in the March 2024 quarter and margins expanded to 18.8%.

DOMS Industries is one of the stationery and art products players in India with a 12% market share in FY23. The company has most of its differentiated products like pencil extenders, hexagon-shaped erasers and triangular-shaped pencils. These products have helped the company to steadily gain market shares.

The company offers well-designed and high-quality stationery and art materials to consumers, which are classified into seven categories: scholastic stationery, scholastic art materials, paper stationery, kits and combos, office supplies, hobby and craft, and fine art products.

The company has an exclusive tie-up with certain entities of the FILA Group for the distribution and marketing of their products in South Asia.

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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