Stock Market Highlights, May 27: Sensex, Nifty slip into red in fag-end; metal, auto stocks weigh

Stock Market Highlights on May 27, 2024: Among sectors, the Nifty PSU Bank index gained over 1 per cent, and the Nifty Bank 0.6 per cent

3:56 PM

Tech View :: Key levels to watch on Nifty50

Nifty remained mostly volatile during the day as India awaits the final phase of the general election. The near-term outlook remains positive, with the index staying above the crucial moving averages. Support lies at 22,900, below which the index might slip towards 22,800. On the higher end, bears are active around 23,000-23,050. A decisive move above 23,050 might trigger a stronger rally towards higher levels."

Views by: Rupak De, Senior Technical Analyst, LKP Securities

3:53 PM

Comment :: What all happened in the markets today?

The bulls are facing stiff resistance at 23,000 levels as investors start booking profit at higher levels to avoid any knee jerk reaction in the market ahead of the election result. Better earnings growth, the expectation of a revival in private capex, and a moderation in FIIs selling intensity are the key positive triggers in the market. The release of India's Q4 GDP and US inflation figures this week will also influence investors to get a direction in the near term.

Views by: Vinod Nair, Head of Research, Geojit Financial Services.

3:47 PM

Currency check :: Rupee ends at 83.13/$ against Friday’s close of 83.10/$

3:43 PM

Sectoral trends :: Index end mixed; PSVs rally, Metals slip

3:40 PM

Sensex Heatmap :: Wipro, ITC, Sun Pharma weigh on index

3:37 PM

Closing Bell :: Nifty fails to hold 23,000

3:33 PM

Closing Bell :: Sensex erases all gains, ends 20 points lower

3:28 PM

Hyundai Motor adds Kotak, Morgan Stanley for possible record India IPO

The banks join Citigroup Inc., HSBC Holdings Plc and JPMorgan Chase & Co. as advisers on the IPO, which Bloomberg News has reported could raise about $2.5 billion for India’s second-biggest carmaker. READ MORE

3:15 PM

PSBs extend rally on RBI's bonanza to central Govt; IOB, PSB rally upto 10%

Indian Overseas Bank (IOB), Uco Bank, and Punjab and Sind Bank rallied between 5 per cent and 10 per cent on the National Stock Exchange (NSE) in Monday's intraday trade. Central Bank of India, Bank of Maharashtra, Punjab National Bank, Union Bank of India, and Indian Bank, on the other hand, were up in the range of 2 per cent to 4 per cent. READ MORE

3:03 PM

Sustained fiscal deficit reduction positive for India's ratings, says Fitch

Last week, the board of India's central bank approved a record surplus transfer of Rs 2.11 trn ($25.40 billion) to the government for fiscal 2024, sharply above analysts' and government projections. READ MORE

2:52 PM

ALERT:: West Coast Paper Mills Q4 net dips 59%; stock slips 4%

West Coast Paper Mills today reported a 59.4 per cent dip in Q4 consolidated net at Rs 130.43 crore for the quarter ended March 2024 when compared with Rs 320.96 crore in the corresponding quarter a year ago. Total income dipped 18.4 per cent YoY to Rs 1,128.62 crore from Rs 1,383.17 crore.

2:41 PM

Astra Microwave sprints 14%, hits record high on highest-ever profit in Q4

Astra Microwave share price: Astra Microwave Products share price soared 14.25 per cent to hit a fresh record high of Rs 914 apiece on the BSE in Monday's intraday trade after the defence and aerospace company reported over four-fold jump in net profit during the March quarter of FY24 (Q4FY24). READ MORE

2:29 PM

Karnataka Bank slips 3% on weak Q4 margins; Rs 5.50 dividend announced

The bank's net interest income (NII), which is the difference between interest earned and interest expended, fell 3 per cent to Rs 834 crore in Q4FY24, from Rs 860 crore in Q4FY23. READ MORE

2:18 PM

Modi govt reshaped, transformed Budget in last decade: FM Sitharaman

The minister asserted that the government would continue to maximise the value of taxpayers' money by putting it to the best possible use. READ MORE

2:06 PM

RVNL stock price zooms 8% on bagging Nagpur Metro project worth Rs 187 cr

The total time for execution of the project is 30 months with an overall project value of Rs 187.3 crore, RVNL said in an exchange filing on Friday. READ MORE

1:54 PM

Aster undertakes Rs 250-cr expansion in Bengaluru, plans to add 350 beds

Aster CMI Hospital, located in Hebbal, Bengaluru, spans 445,000 square feet. With this development, the company is strengthening its presence in Bengaluru, bringing its total bed capacity to 1,602. READ MORE

Photo: Shutterstock

1:42 PM

Ashok Leyland soars 6%, hits new high on healthy Q4 operational performance

Ashok Leyland stock price: Demand momentum in domestic market continues to remain healthy, led by pick-up in replacement demand. READ MORE

1:32 PM

NSE lowers tick size to 1 paisa: Over 1,300 stocks to be impacted

Analysts believe a lower tick size can bolster price discovery and market efficiency, rendering trading more appealing for both retail investors and traders. READ MORE

1:21 PM

Bosch soars 5% on strong Q4 results; up 45% in last 6 months

Bosch's net profit rose 41.5 per cent on a year-on-year (Y-o-Y) basis to Rs 564 crore, from Rs 399 crore in the same quarter a year ago (Q4FY23). READ MORE

1:10 PM

Foreign investors eye Indian long-term bonds as JPMorgan inclusion nears

Overseas investors are buying longer-duration Indian government bonds ahead of their inclusion in JPMorgan's emerging market debt index, as they expect these securities to draw a large chunk of passive flows. READ MORE

12:57 PM

Pharma stocks in focus; Astrazeneca, Glenmark, Divi's, Torrent soar upto 9%

Torrent Pharma hits a new high of Rs 2,839.90, surging 9% in the intraday trade after the company reported a strong 56% Y-o-Y jump in Q4 profit. READ MORE

12:42 PM

5 Breakout stocks: Aavas, HFCL, Tata Chem can potentially zoom up to 20%

Chart check on May 27: LTIMindtree and Tata Technologies are the other two seen trading above the higher-end of the Bollinger Bands on the daily scale on Monday. READ MORE

12:23 PM

Indian bonds best bet in Asia for JPMorgan asset before inclusion

JPMorgan Asset joins a slew of global investors, including Abrdn Plc and Zurich-based Vontobel Asset Management, in turning to Indian bonds ahead of their inclusion. READ MORE

12:07 PM

Goldman Sachs ups India 2024 GDP forecast to 6.7%; sees RBI rate cut in Q4

RBI's MPC has sounded cautious on sticky food inflation, Goldman Sachs said, owing to supply-side disruptions due to the ongoing hot weather conditions in many parts of India. READ MORE

11:52 AM

Kolte-Patil Developers share price drops 7% on Rs 26-crore Q4FY24 net loss

New area sales volume, meanwhile, was 1.03 million sq. ft., up 6 per cent Y-o-Y from 0.97 million sq. ft, and 4 per cent Q-o-Q from 0.98 million sq. ft. in Q3FY24. READ MORE

11:36 AM

Jefferies to Nuvama: These brokerage have raised NTPC target price post Q4

Meanwhile, Nuvama pointed out that NTPC missed its 4QFY24E adjusted profit after tax, despite a 13 per cent higher year-on-year (Y-o-Y) regulated equity, indicating profit growth spill-over to FY25. Analysts highlighted FY24 consolidated profit after tax (PAT) rose 25 per cent year-on-year (Y-o-Y), on higher subsidiaries’ and joint venture (JV) share in profit. READ MORE

11:19 AM

ALERT :: NSE to launch 1 paisa tick size for all stocks below Rs 250

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11:05 AM

ALERT :: Transformers and Rectifiers (India) tests, supplies 220 MVA, Electric Arc Furnace Transformer

>> The company has successfully tested and supplied 220 MVA, Electric Arc Furnace Transformer, the world’s third-largest.

>> This transformer is supplied to one of the world’s leading companies engaged in production of steel plant.

10:50 AM

Centre targets Rs 10,000 crore from monetisation of ports in FY25

The Ministry of Ports, Shipping and Waterways has submitted a monetisation pipeline of Rs 10,000 crore, consisting of five-seven projects, to NITI Aayog — the central think tank and nodal government body for asset monetisation — according to a senior government official. READ MORE

10:38 AM

F&O Alert: These 3 Nifty stocks trade with high PCR; check key levels here

Technically, the NSE Nifty 50 index has recovered smartly from a mid-month correction, and is up 5.2 per cent (1,136 points) from its recent low of 21,821 hit on 13th May. The Nifty hit a record high at 23,026 on Friday, 24th May, 2024. READ MORE