Indian stock market news today, 3 May- Morning updates
Market News Today – Indian stock markets are trading lower, RIL is down 2%
Market News updates today 3 May: Indian stock markets made a negative opening as indicated by the SGX Nifty today. Nifty opened at 14481.05 levels, down by 150.05 points while Sensex made a gap down opening of 426.35 points at 48356.01 levels. The Bank Nifty on the spot price also opened negative at 32368.55 levels, down by 413.25 points.
At 10 am IST, Sensex and Nifty are trading lower by 0.64 percent and 0.52 percent respectively while Bank Nifty on the spot price is trading 1.37 percent down.
Maruti Suzuki, M&M, and BPCL are trading as top gainers in the Nifty50 index whereas Titan, SBI, and Reliance are trading as the top losers. Reliance, Tata Steel, and IndusInd Bank are trading as the most active stocks in the Nifty50 index.
On the sectoral front, FMCG, Healthcare, Metals, and Automobiles sectors are trading higher whereas Banking, Finance, Real Estate, and Telecom sectors are trading lower.
Indian markets may open lower today
Good morning and welcome to the Indian stock market news today, 3 May at 8 am IST
Asian markets are trading in the red on Monday. Nikkei and Shanghai are having holidays this week. Hang Seng is trading lower by 1.59 percent. SGX Nifty is also trading 182 points down. The Asian market’s cues are negative for the domestic markets. The Indian stock markets are expected to open lower today.
The US markets slipped on Friday after hitting record highs despite strong economic data and robust corporate earnings. Traders were concern about the global economic recovery due to the recent surge in Coronavirus cases in Brazil and India and signs of weakening China’s manufacturing sectors. The US market indices Nasdaq and S&P 500 closed lower by 0.85 percent and 0.72 percent respectively while Dow Jones was down by 0.54 percent on Friday.
The European markets closed marginally lower on Friday after the data showed that the eurozone economy shrank by 0.6 percent in the first quarter of the year. The European market indices CAC and DAX closed lower by 0.53 percent and 0.12 percent respectively whereas FTSE was up by 0.12 percent on Friday.
Indian stock market fell sharply on Friday due to negative cues from the Asian market peers. Key benchmark indices Sensex and Nifty closed lower by 1.98 percent and 1.77 percent respectively on Friday. FIIs were the sellers and DIIs were buyers in the cash market. FIIs sold Rs 3465.07 crore whereas DIIs bought Rs 1419.31 crore in the cash market on 30 April, Friday.
News that may impact the Indian stock market today, 3 May
News on Economic Indicators
According to RBI data showed on Friday, the country’s foreign exchange reserves increased by $1.701 billion to $584.107 billion in the week ended April 23, 2021. In the previous week ended April 16, 2021, it rose by $1.193 billion to $582.406 billion.
According to the government’s data showed on Friday, Indian’s March Infrastructure output hit a 32 month high of 6.8%, due to better Cement, Steel, and Electricity production in the month. The FY21 core output shrank 7 percent and is the first contraction in the last eight years as production contracted in nine months of the financial year due to pandemic.
The country’s Good and service tax (GST) collection hit a new record of Rs 1.41 lakh crore in the month of April. The collection was 14 percent higher than the previous month. This is the seventh successive month that the collocation is over 1 lakh crore.
As per the government, data showed on 2nd May Country’s outbound goods shipments in April rose a record high of 197.03 percent to $30.21 billion. Export had contracted 60.28 percent for the same period last year due to the nation lockdown and halt in manufacturing for the pandemic.
The goods imports also rose by 165.99 percent in the first month of 2021-22. It has to widen the trade deficit to $15.24 billion during the month.
Other Market News
The Assembly election results for 2021 are as per the predictions. The only difference was TMC won with a huge majority. Election results will have a negligible impact on the market today.
The fourth quarterly results of Reliance and IndusInd bank announced after the market hours on Friday. The results were impressive, may impact positively on the market today.
Today’s quarterly result- Kotak Mahindra Bank, SBI Life Insurance Company, Godrej Properties, Tata Chemicals, L&T Technology Services, IDBI Bank, Mahindra Holidays & Resort, Apollo Tricoat Tubes, Varun Beverages, and others
You can visit this page again to read more updates on Indian stock market news today after the market gets open.
You may also like to read, Bank Nifty Technical Analysis | Nifty Trends for (3-7 May)
These Nifty Stocks gained up to 34% during the week
Happy Investing !!
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