Sensex Today Ends 75 Points Lower | Nifty Above 22,500 | Adani Enterprises Surges 7%

Fri, 31 May Closing

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After opening the day marginally higher, Indian share continued the momentum as the session progressed and ended the day higher.

Benchmark S&P BSE Sensex, and the Nifty50 hit fresh record highs for a third straight day on Monday.

At the closing bell, the BSE Sensex stood higher by 75 points.

Meanwhile, the NSE Nifty closed higher by 42 points (up 0.2%).

Coal India, Adani Ports and Tata Steel among the top gainers today.

Nestle, TCS and Maruti Suzuki on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,683, up by 20 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 marginally higher and BSE SmallCap index ended 0.8% higher.

Sectoral indices are trading mixed with socks in realty sector, telecom sector and metal sector witnessing most buying. Meanwhile stocks in media sector and auto sector witnessed selling pressure

Shares of TVS Holdings, Symphony and Emami 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 0.1% higher at Rs 72,300 per 10 grams.

Meanwhile, silver prices were trading 0.2% lower at Rs 93,936 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.

Adani Group Stocks Soar 13%

In the news, Adani Group's shares surged on 31 May amid heightened trading activity, bucking the trajectory of the benchmark indices.

Shares of Adani Enterprises soared by more than 7%, while Adani Ports & SEZ saw a gain of 4%. Adani Total Gas surged by 10%, while Adani Power climbed to 13% and Adani Energy Solutions was trading nearly 3% higher.

Adani Green Energy shares rose by 4.4%, while Adani Wilmar, Ambuja Cements, and ACC recorded gains of 3.6%, 2% and 2%, respectively. NDTV's shares rose 9%.

Meanwhile, India's benchmark Sensex and Nifty indices were volatile ahead of the outcome of the national elections.

Adani Group's FY24 earnings showcased strong growth, according to a media report. EBITDA surged 45% to Rs 829.2 bn, net profit soared 71% to Rs 401.3 bn, and cash reserves reached close to Rs 600 bn. The conglomerate disclosed these figures in the annual reports of its two companies: Adani Ports and Special Economic Zone and Adani Energy Solutions.

In line with India's drive to reduce carbon emissions, Gautam Adani announced a revised renewable energy target of 50 GW by 2030. Adani Ports handled 420 million tonnes of cargo, with plans for further acquisitions and an ambitious target of 1 billion tonnes by 2030.

Wipro Approves Delaporte's Severance

Moving on to news from the IT sector, Wipro shareholders have approved the US$ 4.33-million severance package of former chief executive officer and managing director Thierry Delaporte with over 90% votes in favour.

Only about 10% of the valid votes were cast against the resolution. Wipro's founder-chairman Azim Premji and entities related to him control a majority of the shares in the company, which helped the resolution pass through.

Delaporte resigned on 6 April, and the company appointed a veteran for 32 years, Srinivas Pallia, in his place.

The company incurred severance-related costs of Rs 921 m towards the outgoing CEO for FY24.

According to the latest shareholding pattern, the Bengaluru-based company's promoter and promoter group held over 3.8 bn shares or almost 73% of the total shares. The number of shares held by the public is a little over 141 crore, which accounts for 27% of the total shares.

For the resolution, over 450 m shares were in assent as a percentage of net valid votes, while over 3.9 bn shares were in dissent.

Delaporte earned over US$ 20 m (approximately Rs 166 crore) in FY24, which made him the highest-paid CEO in the IT industry for the second year in a row.

Why Sunteck Realty Share Price is Falling

Moving on to news from realty, Sunteck Realty toppled 5% as investors rushed to take home partial profits after the company released its Q4 results. The stock had surged over 7% earlier this week, giving investors plenty of headroom to book partial profits.

The real estate major was back in the black in Q4FY24 by delivering a net profit of Rs 1 bn as against a net loss of Rs 279 m in the year-ago period. Strong housing demand and robust pre-sales were the major drivers behind the company's healthy earnings performance.

The company's revenue in Q4FY24 also grew manifold YoY to Rs 4.3 bn, a sharp spike from Rs 489 m clocked in the year-ago period. Meanwhile, its operational performance also improved in the March quarter as the EBITDA margin expanded to 35.9%.

Sunteck Realty also delivered its highest-ever annual pre-sales of Rs 19.2 bn in FY24.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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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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