Skip to content
Gasoline and diesel prices have increased further;  Lic Ipo in May;  Shanghai lockdown and more

The market ended a two-day positive streak and ended lower in a volatile session on Tuesday. Sensex closed at 60,176, down 435 points and the Nifty fell nearly 100 points to 17,950. While consumer staples and consumer durables stocks rose, financials, notably the HDFC twins , Bajaj Finserv, Reliance Industries and Kotak Mahindra Bank, suffered losses.

Auto stocks were also in focus after auto sales data from the Federation of Automobile Dealers Associations today. According to FADA, retail auto sales in India increased by 7% on an annual basis in FY22, while in March retail sales were down 3% from the corresponding period one year ago.

The HDFC twins continued to make headlines after their merger announcement. HDFC and HDFC Bank shares took a breather today, a day after jumping nearly 10% each – their biggest intraday gain in 13 years. According to Morgan Stanley, the HDFC-HDFC Bank combination will be one of the largest consumer lenders in emerging markets in Asia.

Sources told CNBC-TV18 that the government is ready to launch LIC’s highly anticipated IPO in early May.

Meanwhile, market veteran and ESB member Ramesh Damani said the Indian market is in an ideal position. Democracy, China Plus One and digitalization are all playing on India’s strength and so the bull market is here to stay, he said.

Petrol and diesel prices rose by 80 paise per liter each today, bringing the total tariff increase over the past two weeks to 9.20 rupees per litre. Petrol in Delhi will now cost Rs 104.61 per liter while diesel tariffs have risen to Rs 95.87.

On the global front, Shanghai extended transportation restrictions today after a day of intensive citywide testing and saw new COVID-19 cases soar to over 13,000. there is no end to the lockdown in sight yet.

Tune in to the Top News podcast for more

If you have any questions or suggestions, please email us at


Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.