Sensex closed at 72,404, down 1,062 points, or 1.5 per cent,and the Nifty 50 was down 335 points or 1.5 percent at 21,967.
MotoCorp, Tata Motors, Mahindra & Mahindra, SBI, Bajaj Auto, Infosys, and HCLTech, out of the 50 ended in the green. Larsen & Toubro, BPCL, Asian Paints, Coal India, and ONGC were the top drags for the day.
The BSE SmallCap index closed down 2.41% and the BSE MidCap index was down 2.01% at close.
Impact on the stock market
The Auto index flaunted in the green zone with a 0.78% gain.Every other sectoral index was in the deep red. The Volatility index, VIX ended a whopping 6.55% higher.
| Sector/Index | Performance |
| Information Technology | -0.39% |
| Healthcare | -2.07% |
| Oil & Gas | -3.15% |
| Realty | -2.23% |
| PSU Banks | -0.73% |
Top gainers today
| Company | Price | Change (%) |
| Hero Motocorp share price | 4,764.90 | +3.27 |
| Tata Motors share price | 1,030.30 | +1.80 |
| Mahindra & Mahindra share price | 2,212.55 | +1.38 |
| Bajaj Auto share price | 8,846.85 | +1.11 |
| SBI share price | 819.80 | +1.11 |
Top losers today
| Company | Price | Change (%) |
| Larsen share price | 3,275.45 | -6.06 |
| Asian Paints share price | 2,710.10 | -4.68 |
| BPCL share price | 592.15 | -4.54 |
| Coal India share price | 443.50 | -4.51 |
| ONGC share price | 265.25 | -4.19 |
Market aftermath: Impact on stocks
Hero MotoCorp gears up for strong growth led by product mix, EV push
Hero MotoCorp share price surged of nearly 80% over the past year, it’s outpaced even the BSE Auto index, which managed a respectable 64% gain, and left the Sensex trailing behind with its modest 19% climb. Hero MotoCorp’s shares are strutting their stuff for the second time in a row, fueled by the company’s stellar performance in the March quarter. Opening at ₹4631.90, a whopping 6.4% jump ended with 4,764.90.
SBI Q4 net profit rises 24% to Rs 20,698 cr, declares Rs 13.70 dividend
SBI flexed its financial muscles with a jaw-dropping 24% rise in net profit, hitting a hefty Rs 20,698 crore for the quarter ending March 31, 2024. The wealth with a dividend of Rs 13.70 per share for FY24, shares were up almost 3% at Rs 834.40 each. But it’s not just about the cash flow; SBI’s cleaning up its act with better asset quality, slashing those nasty non-performing assets like a pro. With gross NPAs down to 2.24% and net NPAs at a sleek 0.57%, they’re setting the bar high for the competition.Interest earned shot up by 19%, totaling a whopping Rs 1.11 lakh crore.With total income of Rs 1.28 lakh crore and expenses kept on a tight leash, SBI’s financial house is looking spick and span.
Asian Paints Q4 net profit rises 1.3% to Rs 1,275 crore, revenue down marginally
Asian Paints, the artistic powerhouse of the market, While their consolidated net profit was up by 1.3% to a cool Rs 1,275.3 crore, their total revenue took a slight dip, down 0.64% to Rs 8,730.76 crore.They missed the mark according to market expectations. The revenue fell short of estimates, expected to hit Rs 9,017 crore, while the profit after tax was anticipated to be around Rs 1,313 crore.
Their EBITDA for the quarter also took a bit of a tumble, down 9.3% to Rs 1,692 crore, with EBITDA margins declining by 170 basis points to 21.1%. It’s like they hit a rough patch in their artistic journey. They’re dividends with a final treat of Rs 28.15 per share on top of the interim dividend declared last October. The total dividend for FY’24 is Rs 33.30 per share, with a payout ratio of 60%.
Oil prices fluctuate amid mixed market responses
The Oil market’s rollercoaster ride continues! After taking an 8% dip, prices bounced back up by a whopping 4.5%.Despite the fall, oil supply remains untouched for now. The recent dip in prices was partly fueled by hopes for peace in Gaza, but it seems like oil’s got a mind of its own, shrugging off those concerns and bouncing back like a champ. WTI crude, after flirting with lows of $76.91, decided to play it cool, settling up 0.8% at $78.99 a barrel.
Conclusion
Today’s stock market saw significant fluctuations with both gains and losses across various sectors. The Sensex and Nifty 50 closed in the red, with notable declines of 1.5%, reflecting broader market sentiment. However, amidst the turmoil, certain stocks stood out, including Hero MotoCorp, Tata Motors, Mahindra & Mahindra, SBI, Bajaj Auto, Infosys, and HCLTech, which ended positively. Conversely, Larsen & Toubro, BPCL, Asian Paints, Coal India, and ONGC faced downward pressure, dragging the indices lower.
The Auto index showcased resilience with a 0.78% gain, while other sectors experienced significant declines, notably Oil & Gas, Realty, and Healthcare. Amid global and domestic factors influencing market movements, investors witnessed a rollercoaster ride, particularly in the oil market, where prices fluctuated amidst geopolitical tensions.
Stay tuned on StockGro for more updates on market trends.
