MARKET UPDATE:Sensex dropped 517 points to quote at 49,249 levels while Nifty hovered around 14,750-mark
Published On: Friday, April 30, 2021 | By: Team KnowMyStock
Indian markets drove lower today(30th April 2021) after four straight sessions of gains this week due to unfavourable global market cues, unabated rise in Covid cases, and hiccups in vaccination. The benchmark indices started gap-down with up to 1 percent cuts. In absolute terms, the headline S&P BSE Sensex dropped 517 points to quote at 49,249 levels in early deals. On the NSE, the Nifty50 hovered around 14,750-mark, down 137 points. Wipro (up nearly 4 per cent) was leading the list of gainers on the Nifty after the IT major revised its IT services revenue guidance to $2,324-$2,367 million for the April-June quarter of FY22, which translates to a sequential growth of 8-10 per cent. Bajaj Auto, ONGC, Divis's Labs, Dr Reddy's Labs, and Sun Pharma were the other top-performing stocks on the 50-share index.
On the downside, HDFC Bank skidded 3 percent, followed by HDFC, ICICI Bank, Titan, and State Bank of India.
Mood across the broader markets was mixed as the S&P BSE MidCap index dipped 0.24 per cent but the S&P BSE SmallCap index gained 0.06 per cent.
As regards sectoral trends, the Nifty IT index gained 1 per cent to trade as the top performing index in a weak market. Meanwhile, the Nifty Bank index, down 2.11 per cent. was the worst hit index.
Twenty seven companies are slated to post their March quarter numbers including Reliance Industries, IndusInd Bank, YES Bank, Marico and Can Fin Homes.
Mukesh Ambani-led RIL is expected to witness an increase of 8 per cent (on average) in its consolidated earnings before interest, tax, depreciation, and amortisation (Ebitda) in the March quarter (Q4), led by a strong improvement in the profit of Jio, its telecom business.
Tags: Indian equity market Sensex Nifty
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