Stock Market Opening Bell: The Indian stock market benchmark indices, Sensex and Nifty 50, witnessed a gap down opening on Friday, May 8, tracking weak global cues amid concerns over escalating US-Iran war tensions.
While Nifty 50 declined 0.49% to 24207.00 level, Sensex fell 0.51% to 77446.90 level.
The trends on Gift Nifty were indicative of a negative opening for the Indian benchmark indices. The Gift Nifty was trading around 24,295 level, a discount of nearly 87 points from the Nifty futures’ previous close.
On Thursday, the Indian stock market ended lower amid profit booking, with the Nifty 50 holding above 24,300 level.
The Sensex dropped 114.00 points, or 0.15%, to close at 77,844.52, while the Nifty 50 settled 4.30 points, or 0.02%, lower at 24,326.65.
The stocks in focus due to Q4 result announcements are SBI, Titan, Tata Consumer, Swiggy, Hyundai Motor
India, Bank of Baroda, ABB India, MCX, JSW Infrastructure, Kalyan Jewellers, Oberoi Realty, CreditAccess Grameen, Balkrishna Industries, Niva Bupa Health and Ujjivan Small Finance Bank.
Gravita India: The company reported net profit of Rs 69.7 crore, down 5.2% YoY, despite revenue growth of 6.3%.
Lenskart: The eyewear major may remain in focus after reports of a $350 million block deal involving sale of around 7.02 crore shares at Rs 470 per share surfaced.
Dabur India: It posted Q4 net profit of Rs 368.6 crore, up 15.2% YoY, with revenue increasing 7.3%.