Stock Market Today: Indices Erase Gains; Sensex, Nifty End in Red, M&M Top Gainer

The Indian stock market ended in the red, erasing the morning gains on April 30, 2024. At close, Sensex fell 188 points at 74,482.78 while Nifty shed 38 points and ended the session at 22,604.85.

Selling is seen in IT, metal, oil & gas, bank, FMCG, capital goods, and healthcare space while auto, power, and realty were up 1-2 percent. The BSE midcap index rose 0.4 percent, while the smallcap index ended on a flat note.

Around 1,832 stocks advanced, and 1,989 stocks declined while 129 stocks remained unchanged.

Top Nifty50 Gainers

• Mahindra & Mahindra: 4.75%
• Power Grid: 2.77%
• Shriram Finance: 2.12%
• Hero MotoCorp: 2.09%
• Bajaj Auto 1.78%

Top Nifty50 Losers

• Tech Mahindra: -2%
• Tata Steel: -1.58%
• Dr Reddy’s Labs: -1.54%
• Sun Pharma: -1.51%
• HCL Tech: -1.44%

Asian Markets

Asia-Pacific markets largely rose on Tuesday, tracking Wall Street moves overnight, while investors assessed factory activity figures from China. Japan’s Nikkei 225 climbed 1.24 percent to 38,405.66 as traders returned from a public holiday, while the broad-based Topix was up over 2 percent to 2,743.17. Hong Kong’s Hang Seng index was up 0.23 percent, while China’s CSI 300 fell 0.54 percent to close at 3,604.39, according to a CNBC.com report.

European Markets

European markets were lower Tuesday as a flurry of earnings and key data points were released, according to a CNBC.com report. The regional Stoxx 600 index traded 0.35 percent lower. FTSE added 0.34 percent at 8,175.08 while CAC shed 0.3 percent at 8,046.33. German DAX slipped 0.42 percent at 18,043.06.

Also read: Stock Market Holidays 2024: BSE, NSE to Remain Closed on These Dates; Check List

Stocks in Action:

Mahindra & Mahindra

Mahindra & Mahindra (M&M) saw a remarkable surge in its stock price, soaring over 4 percent to hit new high of Rs 2,152 per share on April 30. This surge came after the company’s launch of its compact SUV – XUV 3XO, boasting an aggressive starting price of Rs 7.49 lakh. The move signals M&M’s entry into a fiercely competitive market, challenging established players such as Maruti Suzuki Brezza, Tata Nexon, and Hyundai Venue.

KEC International

KEC International experienced a robust surge in its share price, climbing nearly 3 percent intraday on April 30. This uptick came following the company’s successful acquisition of new orders amounting to Rs 1,036 crore across its diverse spectrum of operations.

Within its Transmission & Distribution (T&D) division, KEC International secured contracts for T&D ventures spanning the Middle East and the Americas. These projects include the establishment of overhead transmission lines in the United Arab Emirates (UAE) and the provision of towers, hardware, and poles in the Americas.

Source: NSE, BSE

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