Nifty ends May F&O series above 18,300; Sensex gains 99 points

CLOSING BELL: The broader BSE MidCap and SmallCap indices outperformed the benchmarks as both the indices registered gains of up to 0.36 per cent

4:13 PM

COMMENT:: Domestic market rebounded as US futures recouped losses

"Global markets maintained their influence, exerting downward pressure on the domestic market in response to weaker cues from the US market and the recession in Germany. However, as US futures rose, propelled by a sharp increase in sales projections from chipmaker Nvidia, the domestic market was able to efficiently recoup its earlier losses.

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:11 PM

VIEW:: Outlook for Nifty remains positive; support seen at 18,200

"Nifty remained volatile during the day, but found support at the 18,200 level before moving higher. The RSI is in bullish crossover on the lower timeframe, which suggests that the momentum is in favor of the bulls. On the higher end, resistance is seen at 18,500. Support is seen at 18,200. Overall, the outlook for the market is positive, but there is still some volatility to be expected. Traders should take profits on rallies and look for opportunities to buy on dips."

 

- Rupak De, Senior Technical Analyst at LKP Securities

4:11 PM

VIEW:: Bank Nifty can rally higher if it breaks 44,000 hurdle

"The fight between the bulls and bears continues in the Bank Nifty Index. The bulls have been trying to push the index higher, but the bears have been successful in keeping it in check. The May monthly expiry witnessed volatile trading, but the index managed to hold the support of 43,400. This is a positive sign for the bulls, as it shows that there is still demand for the index at this level. The resistance is at 44,000, where the highest open interest is built up on the call side. This means that there is a lot of potentials for the index to move higher if it can break through this resistance level."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities
 

4:06 PM

ITC hits new high, up for the 5th straight day; soars 32% so far in 2023

Analysts raised their cigarette volumes growth estimate for FY24E considering market share gains from illicit cigarettes as well as strong growth in high price cigarettes. READ MORE

4:04 PM

Zomato surges 36% in two months on improved operational performance

Management expects sequential GOV growth to be in a high single digit in Q1FY24, on the back of green shoots of recovery since February, 2023. READ MORE

4:02 PM

Stock of this aerospace & defense company has zoomed 93% thus far in 2023

Zen Technologies rallied 9% to hit a new high of Rs 354.90 on the BSE in Thursday's intra-day trade after its board approved allotment of over 4 million shares to investors on conversion of CCDs. READ MORE

4:00 PM

Indian Hotels hits record high on healthy business outlook

In the past one year, Indian Hotels has outperformed the market as shares zoomed past 75 per cent, as against a 15 per cent rise in the S&P BSE Sensex. READ MORE

3:57 PM

Star Cement surges 8% on heavy volumes; nears 4-year high

Enhanced capacity utilisation, backed by the government's thrust on infrastructure development in the NER and better pricing power would enable Star to register revenue and earnings by going forward. READ MORE

3:54 PM

Elecon Engg hits new high on positive outlook; zooms over 2900% in 3 years

The company said growth outlook for gears and MHE segments remains positive on the back of strong demand from end user industries. READ MORE

3:52 PM

Market breadth was positive; 1,877 stocks advanced v/s 1,616 declining shares on the BSE

3:49 PM

BSE Smallcap Heatmap:: Onward Tech, Hindware Home zoom up to 15%; Lincoln Pharma cracks 11%

3:46 PM

BSE Midcap Heatmap:: Jubilant Foodwork, JSW Energy soar up to 4%; Max Health dips 4%

3:43 PM

Broader indices outperform; India VIX dips 4%

3:41 PM

Nifty 50 Losers:: Wipro, Tata Motors, IndusInd Bank were down around 1%

3:40 PM

Nifty 50 Gainers:: Bajaj Auto, Adani Enterprises, Bharti Airtel rise up to 3%

3:37 PM

Sensex 30 Heatmap:: 16 Gainers v/s 14 Losers

3:35 PM

CLOSING BELL:: NSE Nifty50 settles with a gain of 36 pts at 18,321

3:33 PM

CLOSING BELL:: S&P BSE Sensex snaps ends 99 pts higher at 61,873 amid high volatility

3:23 PM

ALERT:: Bharat Dynamics Q4 net dips 42%; stock plunges 6%

Bharat Dynamics today reported a 42.2 per cent drop in Q4 net profit at Rs 152.76 crore for the quarter ended March 2023 when compared with Rs 264.36 crore in the corresponding quarter a year ago. Total income too declined 40.7 per cent YoY to Rs 835.43 crore.

3:12 PM

Wipro chairman Rishad Premji's compensation down 50% as profits fall

“Rishad A Premji is entitled to a commission at the rate of 0.35% on incremental consolidated net profits of Wipro Limited over the previous fiscal year. However, in light of the fact that the incremental consolidated net profits for fiscal year 2023 was negative, the Company determined that no commission was payable for fiscal year 2023 to Mr. Rishad A. Premji,” said the company. READ MORE

3:07 PM

Stock of this aerospace & defense company has zoomed 93% thus far in 2023

Zen Technologies rallied 9% to hit a new high of Rs 354.90 on the BSE in Thursday's intra-day trade after its board approved allotment of over 4 million shares to investors on conversion of CCDs. READ MORE

2:58 PM

ALERT:: Beardsell Q4 net jumps 89%; stock soars 9%

Beardsell posted a solid 89.5 per cent growth in Q4FY23 net profit at Rs 3.24 crore as against Rs 1.71 crore in Q4FY22. Total income was up 4 per cent YoY at Rs 60.03 crore.

2:43 PM

ALERT:: Strides Pharma Q4 revenue rises 14%; stock tanks

Strides Pharma Q4 revenue grew by 14 per cent to Rs 990.40 crore for the quarter ended March 2023 when compared with Rs 868.60 crore in the same quarter a year ago. EBITDA was up 33 per cent YoY at Rs 159.60 crore.

2:32 PM

Here's a look at companies leaving Russia and those staying back

More than 500 companies have suspended their business in Russia, and a similar number have withdrawn completely. An additional 151 are scaling back, 175 are buying time and 230 are digging in, according to database kept by Yale University. Chinese companies figure prominently in the last category. READ MORE

2:21 PM

Asian Market Update:: Hang Seng sinks 2%; Taiwan bucks trend

Source: Yahoo Finance

2:10 PM

Elecon Engg hits new high on positive outlook; zooms over 2900% in 3 years

Shares of Elecon Engineering Company (EECL) hit a new high of Rs 594.25, as they rallied 6 per cent on the BSE in Thursday’s intra-day trade in an otherwise weak market on positive industry outlook. In comparison, the S&P BSE Sensex was down 0.38 per cent at 61,541 at 01:56 PM. READ

1:59 PM

ALERT: Suven Pharma Q4 consol PAT rises 35% YoY to Rs 124 crore

1:46 PM

RBI may need to buy $18 bn of bonds to replenish banking liquidity: ICICI

India's central bank may buy as much as 1.5 trillion rupees ($18 billion) of government bonds to replenish banking liquidity that's expected to tighten later in the year, according to a top banker. READ

1:37 PM

Govt on track to meet disinvestment target of Rs 51,000 crore for FY24

The government could meet its Budget target of realising Rs 51,000 crore from disinvestment in the current financial year even if it does not take any fresh public sector undertaking for stake sale, provided plans for IDBI Bank and Concor go through. READ

1:25 PM

Telecom stocks zoom up to 4%