MARKET UPDATE: Sensex fell 500 points to 56,528, while Nifty shed 131 points to 16,970
Published On: Monday, May 2, 2022 | By: Team KnowMyStock
Influenced by the weak global sentiment, the benchmark indices started the new week today (2 May 2022)with deep cuts. The BSE Sensex fell 500 points to 56,528, while the NSE Nifty shed 131 points to 16,970. Among the Sensex-30 shares, Infosys, Tech M, Bajaj Twins, Maruti, Asian Paints, Sun Pharma, Titan, L&T, and HDFC twins were the top laggards. IndusInd Bank, NTPC, and Axis Bank, meanwhile, were the only stocks in green on Sensex. Tata Motors and Divi's Labs were the additional gainers on the Nifty. In the broader markets, the BSE MidCap and SmallCap indices were also in the negative territory, down up to 0.6 percent.
Sectorally, Nifty Auto, IT, financials, metals and consumer durables were the top losers, down up to 1 per cent. Nifty private bank, meanwhile, turned flat.
Among stocks, IndusInd Bank was the top Sensex winner, up 4 per cent on strong Q4 results. The lender reported a 51 per cent jump in net profits, aided by lower provisions and higher net interest income. Its net profit for the quarter totalled to Rs 1,401 crore compared to Rs 926 crore in the year ago period.
Just Dial, on the other hand, fell 3 per cent. The company’s Q4 consolidated net profit declined 34.3 per cent to Rs 22.05 crore for the quarter ended March 2022 vs Rs 33.57 crore in the year ago quarter.
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