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Stock Market Highlights:Nifty trades sideways and its short-term trend continues to be up. What’s in store for D-Street
15 May 2024 | 08:09:48 PM IST
Nifty on Wednesday ended 17 points lower to form a high wave type candle on the daily chart. The index largely traded sideways and failed to generate any significant directional breakout.
The short-term trend of Nifty continues to be up. Further consolidation or minor dip in the market is expected before showing further upmove.
Show moreThe short-term trend of Nifty continues to be up. Further consolidation or minor dip in the market is expected before showing further upmove.
1 New Update
NCC Q4 Results: Net profit jumps 25% YoY to Rs 239 crore
Infrastructure firm NCC reported a 25% rise in fourth-quarter profit on Wednesday, aided by the execution of major projects. The company reported a consolidated net profit after tax of Rs 239 crore for the quarter ended March 31, up from Rs 191 crore a year ago.
Mankind Pharma Q4 Results: PAT zooms 62% YoY to Rs 477 crore, revenue up 19%
Mankind Pharma on Wednesday reported a consolidated net profit of Rs 477 crore for the quarter ended March 31, 2024, which was up by 62.2% versus Rs 294 crore reported by the company in the year-ago period.
S&P 500, Nasdaq hit intraday record highs after inflation data
Wall Street's main indexes opened higher on Wednesday, with the Nasdaq and the S&P 500 hitting intraday record highs after consumer prices increased less than expected in April, supporting market bets for a September interest rate cut.
The Dow Jones Industrial Average rose 56.99 points, or 0.14%, at the open to 39,615.10.
The S&P 500 opened higher by 16.58 points, or 0.32%, at 5,263.26, while the Nasdaq Composite gained 89.96 points, or 0.54%, to 16,601.14 at the opening bell.
The Dow Jones Industrial Average rose 56.99 points, or 0.14%, at the open to 39,615.10.
The S&P 500 opened higher by 16.58 points, or 0.32%, at 5,263.26, while the Nasdaq Composite gained 89.96 points, or 0.54%, to 16,601.14 at the opening bell.
"Trading volume for GameStop shares has increased by three times (3X) in the last two days crossing 1 crore on Vested platform. Similarly, the number of investors trading in GameStop has increased by six times (6X). While the level of interest is not as much as the last wave in 2021, there is definitely a spike in interest this time around as well."
- Viram Shah, CEO, Vested on GameStop buzz
Tech View: Nifty forms high wave type candle. What traders should do on Thursday
Nifty on Wednesday ended 17 points lower to form a high wave type candle on the daily chart. The index failed to generate any significant directional breakout. Further consolidation or minor dip in the market is expected before showing further upmove.
Jindal Stainless Q4 Results: Revenue at Rs. 9454 cr vs Rs. 9765 cr, down 3.2% YoY
Nifty Bank holds above 50-DMA; fresh longs possible on a breach above 48,000: Experts
The Nifty Bank closed lower on Wednesday after closing in the green for the past two trading sessions. The index witnessed selling pressure around 48,000 for the second day in a row.
Rupee edges up 1 paisa to 83.50 against US dollar
The rupee inched up 1 paisa to settle at 83.50 (provisional) against the US dollar on Wednesday as the American currency retreated from its elevated level. However, sustained foreign fund outflows and a weak trend in domestic equities weighed on the local unit.With foreign investors buying US dollars and the Reserve Bank of India (RBI) selling the greenback, the USD/INR pair is expected to remain range-bound with a bit of a weakness bias, according to forex traders.
"The Nifty largely traded sideways as the index failed to generate any significant directional breakout. Bulls struggled to push Nifty above the 22250 mark on a closing basis. Sentiment remains subdued as long as it stays below 22250. A decisive move beyond this level could potentially propel Nifty towards 22600 and beyond. Conversely, a failure to sustain above 22200 might invite selling pressure in the market."
- Rupak De, Senior Technical Analyst, LKP Securities
Jyothy Labs Q4 net profit up 32% to Rs 78 cr
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Price as on 04.53.31 PM, Click on company names for their live prices.
Berger Paints India Q4 net profit grows 19.68% to Rs 222.62 crore
Berger Paints India Ltd on Wednesday reported a 19.68 per cent increase in consolidated net profit to Rs 222.62 crore in the fourth quarter ended March 2024. The company had posted a consolidated net profit of Rs 186.01 crore in the same quarter a year ago, Berger Paints India said in a regulatory filing.Consolidated revenue from operations in the quarter under review stood at Rs 2,520.28 crore as against Rs 2,443.63 crore in the corresponding period of the previous year.Total expenses in the fourth quarter were higher at Rs 2,274.13 crore as compared to Rs 2,178.58 crore a year ago.
Berger Paints Q4 Results: Revenue at Rs. 2520 cr vs Rs. 2444 cr, up 3.1% YoY
The market witnessed a sideways movement throughout the day as the emotions of investors were impacted by the election-led jitters. FIIs continued to remain in the selling mode; however, domestic investors were largely concentrated on stock-specific picks. The positive results from the capital goods sector and robust growth outlook gained investors’ attention and led the segment to outperform. A drop in US 10yr yield ahead of the release of sensitive CPI data from the US will be watched carefully by the market to gain insights on rates.
- Vinod Nair, Head of Research, Geojit Financial Services
Indian rupee closes little changed ahead of key US CPI data
The Indian rupee sidestepped gains in its broader Asian peers to end barely changed on Wednesday, as traders awaited the U.S. consumer inflation data for cues on when the Federal Reserve may kick off rate cuts.
The rupee closed at 83.50 against the U.S. dollar, compared to its previous close of 83.51.
The rupee closed at 83.50 against the U.S. dollar, compared to its previous close of 83.51.
Top gainers & losers in closing trade
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Price as on 03.34.23 PM, Click on company names for their live prices.
Closing Bell: Sensex ends 3-day upmove, settles 118 pts lower; Nifty below 22,250; Tata Motors, Asian Paints drop 2% each
Sensex Today | Stock Market Live Updates | Sicagen India Q4 Results
- Cons net profit at Rs 3.07 cr versus profit of Rs 11.17 cr
- Cons revenue from operations at Rs 221 cr versus Rs 227 cr
Sensex Today | Stock Market Live Updates | TVS Motor Company on Wednesday unveiled its new variant of the electric two-wheeler, TVS iQube with 2.2 kWh battery in Bengaluru.
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Price as on 03.21.29 PM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates | Keystone Realtors Q4 Results
- Revenue Rs 812 crore.
- EBITDA Rs 67 crore.
- PAT Rs 31 crore.
- Pre-Sales during FY24 at Rs 2266 crore (up 41% YoY) & Rs 8.43 crore for Q4FY24 (up 37% QoQ).
- Collections during FY24 at Rs 2203 crore (up 18% YoY) & Rs 670 crore for Q4FY24 (up 48% QoQ).
Sensex Today | Stock Market Live Updates | CSL Finance announces final dividend of Rs 2.50 per share
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Price as on 02.28.40 PM, Click on company names for their live prices.
European stock markets rise at open
At the opening of trading on Wednesday, European stock markets saw an increase, with investors anticipating the release of important US inflation figures to gauge potential adjustments in interest rates. London's FTSE 100 rose by 0.5 percent to reach 8,470.66 points. Meanwhile, in the eurozone, Paris's CAC 40 index advanced by 0.3 percent to 8,249.41 points, and Frankfurt's DAX saw a 0.4 percent climb to 18,782.67 points.
Stock Market Live Updates | Drugmaker Granules India posted a 1.6% fall in fourth-quarter revenue on Wednesday, hurt by a decline in paracetamol sales and price erosion.The company's consolidated revenue fell year-on-year to 11.76 billion rupees (nearly $141 million) for the three months to March 31.
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Price as on 01.56.51 PM, Click on company names for their live prices.
Stock Market Live Updates | Power Finance Corporation (PFC) on Wednesday posted over 23 per cent rise in consolidated net profit at Rs 7,556.43 crore for March quarter FY24 on account of growth in loan portfolio.
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Price as on 01.44.30 PM, Click on company names for their live prices.
Dare to buy these 8 multibagger stocks trading above 100 PE multiples?
If we analyze solely based on the PE multiple, indicating the number of years required for a company's earnings to match its current price, Zomato stands out as one of the priciest stocks on Dalal Street, boasting a remarkably high PE of 487x. Despite experiencing a surge of over 200% in the past year, this multibagger stock still manages to draw in investors.
Sensex Today | Stock Market Live Updates | Top gainers & losers at this hour
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Price as on 01.14.01 PM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates | Granules India re-appoints Krishna Prasad Chigurupati as Chairman, MD
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Price as on 12.41.08 PM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates | Coal India, NMDC exploring lithium mines overseas, mines secretary says
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Price as on 12.31.13 PM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates: Paradeep Phosphates Q4 PAT rises
- PAT at Rs 21.5 crore vs Rs 9.98 crore YoY
- Revenue at Rs 2243 crore vs Rs 3644 crore YoY
Sensex Today | Stock Market Live Updates: These 5 power stocks rally up to 6%
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Price as on 12.11.16 PM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates | Oil India to consider proposal for issue of bonus shares on May 20
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Price as on 11.52.52 AM, Click on company names for their live prices.
Tokyo's Nikkei index finishes with small gains
Tokyo's Nikkei index closed slightly higher on Wednesday as Sony Group soared after a US media report said it was rethinking its bid for TV and film giant Paramount.
The benchmark Nikkei 225 index gained 0.08 percent, or 29.67 points, to end at 38,385.73, while the broader Topix index was flat, losing just 0.07 points to 2,730.88.
The benchmark Nikkei 225 index gained 0.08 percent, or 29.67 points, to end at 38,385.73, while the broader Topix index was flat, losing just 0.07 points to 2,730.88.
Sensex Today | Stock Market View: How to trade TBO Tek after solid debut?
Despite muted market sentiments TBO Tek listed in line with our expectations, considering the strong subscription demand during the issue from the QIB category. The healthy listing is justified as the company holds a strong position in the global travel and tourism industry which offers a comprehensive platform that creates significant value for both suppliers and buyers. We had recommended our investors to apply for listing gains only, hence, considering the ongoing market mood, we continue to hold our view and recommend investors to book profits on listing day.
Prashanth Tapse, Senior VP (Research), Mehta Equities
Prashanth Tapse, Senior VP (Research), Mehta Equities
India to get $2.5 billion FII boost from MSCI rejig, 21 stocks to benefit
After a quarterly adjustment conducted by the renowned global index services provider, India's representation within the highly sought-after MSCI Emerging Markets (EM) index is slated to rise from 18.3% to nearly 19% starting May 31. This adjustment may trigger foreign institutional investor (FII) inflows amounting to approximately $2.5 billion.
Sensex Today | Stock Market Live Updates: Aarti Pharmalabs: Expect EBITDA growth of about 10-12% in FY25
- Commercialization of Atali project expansion expected in Q4FY25
- Aim to achieve long-term goal of over 15% annual growth in next 3 years
Sensex Today | Stock Market Live Updates | Nucleus Software Exports appoints Surya Prakash Kanodia as CFO
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Price as on 10.44.17 AM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates | Easy Trip Planners partners with Google Wallet
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Price as on 10.41.58 AM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates: LIC - Sebi grants additional 3-year time for co to achieve 10% public shareholding
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Price as on 10.25.57 AM, Click on company names for their live prices.
In light of the recent surge in the 10-year United States Treasuries (UST) yields as well as the geopolitical tensions, markets are expected to remain volatile, despite a resilient economy, tighter job markets and slowing down of inflation levels in the Indian Economy. Benchmark yields are expected to trade with a positive bias in view of movement in 10Y USTs. While RBI is expected to provide temporary liquidity support, Liquidity may still come under pressure due to GST outflows and foreign exchange intervention. Foreign Portfolio Investments (FPI) flows in the Indian debt market has turned negative, turning them into net sellers for the month of April, due to the response to the swings in the yields of USTs.
- Debt Outlook from Mirae Asset Investment Managers
Sensex Live Updates |Sensex erases all gains, trades in red
Sensex falls over 200 pts
Sensex Today | Stock Market Live Updates | NEW LISTINGS ALERT
- TBO Tek: NSE - Rs 1,426 (Up - Rs 506 or 55%) | BSE - Rs 1,380 (Up - Rs 460 or 50%)
- Aadhar Housing Finance: BSE - Rs 314.3 (Down - Rs 0.7 or 0.22%) | NSE - Rs 315 (listed at issue price)
- TGIF Agribusiness (SME): BSE - Rs 150 (Up - Rs 57 or 61.3%)
- Silkflex Polymers (SME): NSE - Rs 60 (Up - Rs 8 or 15.4%)
Sensex Today | Stock Market Live Updates | Virat Kohli-backed Go Digit IPO opens for subscription. Should you bid?
Today marks the commencement of the subscription period for the initial public offering (IPO) of Go Digit Insurance, supported by Virat Kohli. The IPO, which concludes on May 17, includes a fresh equity offering of Rs 1,125 crore along with an offer for sale (OFS) of up to 5.47 crore shares.
Sensex Today | Stock Market Live Updates: Abans Holdings trades flat following Q4 earnings, Sebi nod to operate as an investment manager for Alternative Investment Funds (AIFs) in India.
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Price as on 09.58.20 AM, Click on company names for their live prices.
Sensex Today | Stock Market View: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Sustained FII selling in May so far has taken the total FII sell figure to Rs 33540 crores and the sustained DII buying has taken the total DII buy figure to Rs 26500 crores. Because of this balancing of the FII selling with DII buying, the market has not moved much, though it has been highly volatile. Nifty is down only 0.25 % in the last one month.
The overarching factor driving the FII selling is the outperformance of Chinese stocks which are witnessing a rebound from beaten down valuations. The Hang Seng index is up by 14.90% in the last one month. FIIs invest in Chinese H stocks listed in Hang Seng. So long as this outperformance of Chinese stocks sustain, FIIs may continue to sell in India.
A clear change in the market direction will happen when clarity emerges on the election results in India. A high probability is DIIs, HNIs and retail investors buying aggressively if the election results are favourable from the market perspective. Such aggressive buying can put the FIIs on the back foot.
FIIs-heavy largecaps will continue to be weak and this will be an opportunity for investors to accumulate them.
The overarching factor driving the FII selling is the outperformance of Chinese stocks which are witnessing a rebound from beaten down valuations. The Hang Seng index is up by 14.90% in the last one month. FIIs invest in Chinese H stocks listed in Hang Seng. So long as this outperformance of Chinese stocks sustain, FIIs may continue to sell in India.
A clear change in the market direction will happen when clarity emerges on the election results in India. A high probability is DIIs, HNIs and retail investors buying aggressively if the election results are favourable from the market perspective. Such aggressive buying can put the FIIs on the back foot.
FIIs-heavy largecaps will continue to be weak and this will be an opportunity for investors to accumulate them.
Stock Market Live Updates | Cipla clarifies promoters have sold 2.53% shares of co for creating liquidity
Post transaction, entire promoter group continues to hold 31.67% in co
Sensex Today | Stock Market Live Updates | PFC, Mankind Pharma, RVNL, Dixon, Titagarh to announce Q4 earnings today
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Price as on 09.37.10 AM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates | Rupee rises in early trade
Rupee rises 2 paise to 83.49 against US dollar in early trade.
Sensex Today | Stock Market Live Updates | PNB, NHPC among top movers in morning trade
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Price as on 09.22.17 AM, Click on company names for their live prices.
Opening Bell: Sensex flat, Nifty above 22,250; Cipla gains 5%, Airtel 2%
Sensex Today | Stock Market Live Updates | Pre-open session: Sensex gains 95 points, Nifty above 22,250
Sensex Today | Stock Market Live Updates: BLOCK DEAL IN CIPLA
- 2.04 crore shares of Cipla traded via block deal in pre-market trade
- 2.52% equity traded via 3 block deals
Sensex Today | Stock Market Live Updates: Key earnings to track today
PFC, Mankind Pharma, RVNL, Dixon and Titagarh will be in focus as the companies will announce their fourth quarter results today.
Sensex Today | Stock Market Live Updates: How to trade Finolex Industries, M&M and HAL on Wednesday
On Tuesday, several stocks captured attention in the market. Finolex Industries surged by 11% to achieve a new record high, while M&M saw a nearly 4% increase. Additionally, Hindustan Aeronautics rose by more than 3% to reach a fresh record high.
Sensex Today | Stock Market Live Updates: Stocks in F&O ban today
1) Vodafone Idea
2) Canara Bank
3) ZEE
4) Balrampur Chini Mills
5) GMR Infra
6) SAIL
7) Hindustan Copper
8) PEL
9) PNB
2) Canara Bank
3) ZEE
4) Balrampur Chini Mills
5) GMR Infra
6) SAIL
7) Hindustan Copper
8) PEL
9) PNB
Sensex Today | Stock Market Live Updates | Market Trading Guide: 4 stock recommendations for Wednesday
- Buy GAIL at Rs 198-200
- Buy Biocon at Rs 308-310
- Buy IRFC at Rs 151-158
- Buy FSL at Rs 183-191
Sensex Today | Stock Market Live Updates: Stocks rise ahead of US inflation report
Asian stocks advanced on Wednesday as the dollar remained subdued, with traders assessing mixed U.S. producer price data and anticipating the influential consumer price report later in the day, which could impact the near-term policy direction of the Federal Reserve. MSCI's broadest index of Asia-Pacific shares outside Japan climbed by 0.38%, reaching a new 15-month high earlier in the session. Japan's Nikkei index also recorded gains, rising by 0.58%.
Sensex Today | Stock Market Live Updates: Oil prices up on wildfires in Canada, US inventories drawdown expectations
Early on Wednesday, oil prices climbed as significant wildfires posed a threat to Canada's oil sands, while market anticipation grew for a drawdown in U.S. crude oil and gasoline inventories later in the day. Brent crude futures increased by 34 cents, or 0.4%, reaching $82.71 a barrel. Similarly, U.S. West Texas Intermediate crude futures (WTI) saw a rise of 38 cents, or 0.5%, reaching $78.39 a barrel by 0016 GMT.
Sensex Today | Stock Market Live Updates: Nasdaq closes at record high
On Tuesday, the Nasdaq achieved a record closing high, accompanied by gains in the S&P 500 and the Dow, following reassurances from Federal Reserve Chair Jerome Powell. Investors digested Tuesday's data and awaited Wednesday's crucial consumer inflation report.
Sensex Today | Stock Market Live Updates: Dollar droops ahead of crucial CPI test; yen under pressure
On Wednesday, the dollar hovered close to a one-month low against the euro, driven by lower Treasury yields, with traders preparing for a significant U.S. inflation report later in the day that could shape Federal Reserve policy. Meanwhile, the yen remained near a two-week low, as the substantial yield gap between Japanese bonds and their U.S. counterparts continued to prompt selling of the Japanese currency.
Sensex Today | Stock Market Live Updates: Rupee closes little changed
On Tuesday, the Indian rupee closed largely unchanged, supported by dollar sales from state-run banks. The local currency, which had faced pressure in recent sessions due to heightened outflows from equities, ended the day at 83.51 against the U.S. dollar, just marginally different from its previous close of 83.53.
Sensex Today | Stock Market Live Updates: Sensex, Nifty end higher for 3rd day in a row
The 30-share BSE benchmark Sensex rose by 328 points or 0.45% to end at 73,104. Similarly, the broader NSE Nifty gained 114 points or 0.51%, finishing at 22,218.
