Stock Market Today Live Updates: Nifty holds 22,500 mark, Sensex closes below 74,000

Stock Market Live Updates: Among sectoral indices, Auto, IT, Pharma, FMCG, Media are in red while Metal and Realty are leading the gains.

Stock Market Live: After a bullish start, both Sensex and Nifty 50 closed the session with marginal gains. Sensex inched 75.71 points, or 0.10 per cent higher at 73,961.31 while Nifty inched 61.75 points, or 0.27 per cent higher at 22,550.40.

Earlier today, Indian frontline indices started the last trading session of this week on a positive note. The Nifty 50 index opened above 22,500 while 30-share Sensex hovered around 74,200. On Thursday, Nifty 50 had ended the session 622 points aways from fresh highs. After opening in green, GIFT Nifty, which is trading at a discount of 35 points at 12 pm.

Among sectoral indices, Auto, IT, Pharma, FMCG, Media settled in red while Metal and Realty lead the gains

Broader markets also participated in the rally with Nifty Midcap 100 inching 278.85 points, or 0.54 per cent higher at 51,705.70 while Nifty Smallcap 100 inched 83.85 points, or 0.50 per cent higher at 16,696.70.

The India VIX, or ‘Fear Index’, that indicates investors anticipation of near time volatility, remains at elevated levels of 24. In early trading today, the VIX moved 5.38 per cent in a downward direction at 22.87.  However, it finally closed at 1.74 per cent higher at 24.60.

Volatility is often described as the ‘rate and magnitude of changes in prices’. As per analysts, the current volatility is a direct result of anxiousness prevailing among market participants as India heads for election results. As volatility subsides, the Volatility Index declines.

In the currency market, the Indian rupee appreciated five paise to open at 83.24 against the US dollar on the back of strong equity market and falling crude oil prices. In the previous session, the Indian currency had closed at 83.29 against the American currency.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 104.71.

Amid mixed trends observed in Indian markets, Asian stocks inched higher as investors await inflation readings from Europe and the US that will likely dictate the path of interest rates. A downward revision to consumer spending meant the US economy grew more slowly than expected in the first quarter.

Stock Market Today Live Updates: Crude oil prices decline marginally 

Share Market Today Live Updates: Crude oil futures declined 0.02 per cent to Rs 6,487 per barrel as participants trimmed their positions on low demand.

On the Multi Commodity Exchange, crude oil for June delivery fell Re 1 or 0.02 per cent to Rs 6,487 per barrel with a business volume of 5,683 lots.

Globally, West Texas Intermediate crude oil traded 0.23 per cent lower at $77.73 per barrel, while Brent crude was trading 0.04 per cent lower at $81.83 per barrel in New York.

Stock Market Today Live Updates: Bharti Airtel rebounds, shares down 2%

Share Market Today Live Updates: Shares of Bharti Airtel are trading 27.15 points, or 1.97 per cent higher at 1,350.15. The share price had declined nearly 4 per cent earlier today.

The shares witnessed an intraday high at 1,386.75 while the day's low was recorded at 1,338.00

Bharti Airtel opened for today's trade at 1,380.00 with the previous close recorded at 1,377.15.

Stock Market Today Live Updates: Experts' take on the market volatility

Share Market Today Live Updates: "The market is tantalisingly poised with the possibility of a sharp move based on the exit poll results tomorrow evening," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, adding, "largecaps in financials, autos, capital goods and telecom have the potential to lead the rally." Vijayakumar further said that the latest macroeconomic data from the US showed the world's largest economy grew at slower than expected pace during January-March 2024.

-From PTI

Stock Market Today Live Updates: Adani Enterprises is top gainer of today's session

Share Market Today Live Updates: Shares of Adani Enterprises are trading 180.75 points, or 5.66 per cent higher at 3,375.85.

The shares witnessed an intraday high at 3,397.30 while the day's low was recorded at 3,225.25.

Adani Enterprises opened for today's trade at 3,225.25 with the previous close recorded at 3,194.25.

Stock Market Today Live Updates: Modi Govt turned around banking sector, over Rs 10 lakh crore bad loans recovered in 10 years: Finance Minister

Share Market Today Live Updates: Finance minister Nirmala Sitharaman said the Modi government has turned around the banking sector through various reforms and improved governance which has led to banks recovering more than Rs 10 lakh crore from bad loans between 2014 and 2023.

She said the Enforcement Directorate has investigated around 1,105 bank fraud cases, which resulted in the attachment of Rs 64,920 crore worth of proceeds of crime. 

"Recently, India's banking sector achieved a significant milestone by recording its highest-ever net profit, crossing Rs 3 lakh crore. The banking sector turned around due to PM Shri @narendramodi's strong and decisive leadership. Our government atoned for the UPA's sins in the banking sector through comprehensive and long-term reforms," Sitharaman said in a post on X.

-With inputs from PTI