Sensex, Nifty end flat; Adani shares rally for 3rd day, SpiceJet sinks 14%

CLOSING BELL: Adani Enterprises led from the front with a near 13-per cent rally, followed by Divis Labs, Bajaj Finserv, BPCL, SBI Life, TC, Asian Paints, Tata Motors, and IndusInd Bank (1 per cent)

4:19 PM

COMMENT:: Key events in the US likely to impact global markets

"Domestic benchmark indices closed flat after a positive session, driven by buying in the metal, pharma, and auto sectors. However, market sentiment was challenged by a sell-off in IT stocks, influenced by weak signals from the US market. The direction of the US market is anticipated to impact global equities, with investors closely monitoring upcoming events such as the release of FOMC minutes, US PMI, and progress in debt-ceiling talks."

 

- Vinod Nair, Head of Research at Geojit Financial Services
 

4:19 PM

VIEW:: Nifty 50 can rally to 18,800 if it conquers the 18,500 hurdle

"During the day, the Nifty index exhibited a predominantly sideways movement, hovering around the 18,400 level. Despite the lack of significant fluctuations, market sentiment remained optimistic as the Nifty managed to sustain its position above the support level of 18,300. However, a notable resistance was observed at 18,500. If the Nifty manages to break through this resistance decisively, it could potentially trigger a rally towards the 18,800 level"

 

- Rupak De, Senior Technical Analyst at LKP Securities

4:19 PM

VIEW:: Nifty needs to break and sustain above 18,550 to rally to a new high

“The Bank Nifty index today saw shorting of the 44,000 put options of this week's expiry converting the existing sold calls that traders had into short straddles of 44,000. This means that traders are not expecting a large movement in either direction for this week's expiry for this index. Nifty is also having almost equal number of sold puts and sold calls going into this expiry. For Nifty to start its next leg of up move it has to close above the 18,550 mark and sustain over there which would be its next trigger to break its all-time high.”

 

- Rahul Ghose, Founder & CEO – Hedged, an algorithm-powered advisory platform
 

4:15 PM

Adani Group shares extend rally; Adani Enterprises zooms 42% in 3 days

Adani Wilmar hit 10 per cent upper circuit, while, Adani Transmission, Adani Green Energy, Adani Total Gas, and NDTV hit the respective 5 per cent upper circuit for the second straight day. READ MORE

4:13 PM

Analysts see 24% upside in IndiGo; suggest tracking costs, airfare cap

Reports suggest that a parliamentary panel has summoned private airlines to discuss rising airfares. READ MORE

4:11 PM

Divi's Lab surges 10% in two days on strong revenue growth guidance

The stock was quoting at its highest level since February 1, 2023 and has recovered 25 per cent from its 52-week low of Rs 2,730, touched on March 14, 2023. READ MORE

4:06 PM

IndusInd Bank gains 15% in one month; nears 52-week high on healthy outlook

The management introduced planning cycle - 6 (FY23-26) wherein they have guided for 18-23% YoY credit growth, mainly-driven by retail (55-60% proportion) and PPOP margins to be 5.25-5.75%. READ MORE

4:04 PM

eMudhra hits new high, zooms 57% in one month post Q4 results

The company said strong growth led by Enterprise Solutions; change in model for Trust Services resulting in diversification and better quality of revenue for trust services. READ MORE

4:03 PM

Analysts see rich valuations for paint, tyre stocks; time to book profit?

Shares of related companies have gained up to 84 per cent, as against a 14 per cent rise in the S&P BSE Sensex. READ MORE

4:01 PM

OMCs extend gains on improved operational performance; IOC hits 52-week high

In the past six months, IOCL (up 28%), HPCL (up 22%) and BPCL (up 19%) have outperformed the benchmark S&P BSE Sensex index. READ MORE

3:57 PM

SpiceJet cracks to near 8-year low on heavy volumes, ends 14% lower

Average trading volumes on the counter jumped over eight-fold with around 15.91 million equity shares, representing around 2 per cent of total equity of SpiceJet changing hands on the BSE on Tuesday. READ MORE

3:54 PM

Market Breadth was almost neutral; 128 stocks hit 52-week high

3:51 PM

BSE Smallcap Heatmap:: Zuari Group, Vimta Labs, Kirloskar Inds among top gainers

3:49 PM

BSE Midcap Heatmap:: Gland Pharma, Adani Power, Patanjali gain around 5%

3:45 PM

Nifty 50 Losers:: Apollo Hospitals, HCL Tech, Tech Mahindra slip over 1%

3:43 PM

Nifty 50 Gainers:: Adani Enterprises soars over 13%; Divi's Lab, Bajaj Finserv shine

3:40 PM

Sensex 30 Heatmap:: 13 Gainers v/s 17 Losers

chart

3:37 PM

CLOSING BELL:: NSE Nifty50 settles at 18,348 - up 34 pts

3:35 PM

CLOSING BELL:: S&P BSE Sensex slips over 300 pts towards the close, ends 18 pts higher at 61,982

 

3:27 PM

India, Mexico 'Best Structural Stories' in emerging markets: Global X

The two countries are undertaking political, fiscal and tax reforms, which create a better competitive environment for businesses to operate in, said Malcolm Dorson, senior portfolio manager at Global X Management in New York. READ MORE

3:17 PM

ALERT:: J Kumar Infraprojects Q4 net flat at Rs 74 cr; stock down 2%

J Kumar Infraprojects reported an indentical net profit of Rs 74 crore for Q4FY23 as against Q4FY22. Total income edged 1.8 per cent YoY higher to 1,134 crore.

3:01 PM

ALERT:: Kopran, Abhinandan Rasayan asset acquisition agreement terminates; stock down 1%

Kopran informed BSE, that the agreement entered into by Kopran Research Laboratories, the wholly-owned subsidiary of Kopran with M/s Abhinandan Rasayan located at MIDC - Ambernath, for acquisition of their assets of Manufacturing facility at Ambernath was terminated. 

2:50 PM

ALERT:: Indoco Remedies Q4 net drops 37%; stock down 2%

Indoco Remedies posted a net profit of Rs 25.37 crore for Q4FY23, down 37.2 per cent when compared with Rs 40.37 crore in Q4FY22. Total income, however, was up 4.6 per cent YoY at Rs 427.95 crore.

2:37 PM

SpiceJet tanks 19%, crashes to near 8-year low on heavy volumes

Average trading volumes on the counter jumped over eight-fold with around 11.47 million equity shares, representing 1.9 per cen of total equity of SpiceJet changing hands on the BSE till 01:50 pm. READ MORE

2:16 PM

Palm oil import in May to hit 27-mnth low, traders switch to soy, sunflower

The surprising drop in palm oil imports by India, the world's biggest importer of vegetable oils, could bring down palm oil prices. READ MORE

2:03 PM

NEWS ALERT:: Trent sets-up 50:50 JV with MAS Amity; stock trades flat

Trent informed BSE, that it has incorporated a 50:50 Joint Venture Company with MAS Amity in India viz., Trent MAS Fashion on May 22, 2023, for undertaking the business of design, development and manufacture of intimate apparel and apparel related products.

 

1:51 PM

International securities watchdog proposes global rules for crypto sector

The moves come after crypto exchange FTX began US bankruptcy proceedings last November following a liquidity crisis that prompted intervention from regulators worldwide. READ MORE

1:51 PM

ALERT :: GQG raises stake in Adani Group

1:40 PM

OMCs extend gains on improved operational performance; IOC hits 52-week high

In the past six months, IOCL (up 28%), HPCL (up 22%) and BPCL (up 19%) have outperformed the benchmark S&P BSE Sensex index. READ MORE

1:28 PM

ALERT:: SpiceJet announces special fare to celebrate 18th Anniversary; stock off lows, still down 14%

As part of its celebrations for completing 18 years of flying high in the Indian skies; SpiceJet announced the launch of two international UDAN fligths, and a mega sale with fares starting as low as Rs 1,818, the company said in a release to the BSE.

 

The airline also aims to bring its four grounded aircrafts back into service by June 15, the release added.