Sensex at day’s low, down 700 pts, Nifty tests 23,600; IT, realty stocks weigh

The Nifty50 and the Sensex extended losses as traders monitor the situation in West Asia following US President Donald Trump’s comments.

The Nifty50 was trading 189.25 points or 0.79 per cent down at 23,628.20, and the Sensex was trading 705.32 points or 0.93 per cent down at 75,293.99.

In the broader markets, the Nifty MidCap and the Nifty SmallCap were trading 0.77 per cent and 1.06 per cent down, respectively.

Sector-wise, the Nifty IT declined the most. The Nifty Realty and the Nifty Media underperformed too. Meanwhile, the Nifty Metal and the Nifty Oil and Gas outperformed.

Trump said that the month-old ceasefire with Iran is on a ‘massive life support’ after the latter submitted an ‘unacceptable’ proposal. The ceasefire remained weak at this point, according to a news report.

Brent crude’s May future contract was trading 0.76 per cent higher at $105 per barrel on the Intercontinental Exchange as the supply disruption at the Strait of Hormuz is expected to persist longer than expected post Trump’s remark.

The Gold and Silver futures were trading 0.06 per cent and 1.18 per cent higher, respectively.

Q4 results today

Bharat Bijlee, Berger Paints India, Bliss GVS Pharma, Borosil Renewables, Bharat Petroleum Corporation, Clean Max Enviro Energy Solutions, Cohance Lifesciences, Dixon Technologies India, Dr Reddys Laboratories, Elantas Beck India, Ethos, Gopal Snacks, Huhtamaki India, Indraprastha Medical Corporation, INOX India, Sai Silks Kalamandir, Kalpataru, KPR Mill, Sri Lotus Developers and Realty, Max Financial Services, MTAR Technologies, Nazara Technologies, Neuland Laboratories, NIIT Learning Systems, Novartis India, Park Medi World, Pfizer, Religare Enterprises, Keystone Realtors, Sagility, Seshasayee Paper and Boards, SKF India, Industrial Stove Kraft, Tata Power Company, Texmaco Rail Engineering, Thomas Cook India, Torrent Power, Ventive Hospitality, V Guard Industries, and Vinati Organics will release their fourth quarter results.

IPO Today

Goldline Pharmaceutical’s initial public offer will open for subscription. It’s a book-build issue of ₹11.61 crore. The IPO will conclude on May 15.

Similarly, the RFBL Flexi Pack IPO will also open for subscription. The ₹35.33-crore book build IPO consists of both fresh issue and offer for sale. It will also close on May 15.

Simca Advertising’s initial public offer will open for subscription for the final day on Tuesday. The issue was subscribed to 0.65 times. The company is aiming to raise ₹58.04 crore from the primary market.