Sensex ends 298 pts up, Nifty reclaims 18,200 led by Adani, auto, IT stocks

CLOSING BELL ON MAY 19, 2023: Shares of Adani Group rallied smartly after the SC reported said it could not pinpoint regulatory failure in the Adani-Hindenburg case.

3:56 PM

COMMENT :: What all happened in the markets today?

The domestic market, though experienced a lack of decisive direction, closed the day on a positive note. The optimism in the US market was fuelled by progress in debt ceiling talks and stronger-than-expected jobless claims. However, the prospect of a stronger US economy suggests that the Federal Reserve may keep policy rates elevated for an extended duration.

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

3:55 PM

Comment :: What's happening in stock markets?

The markets trended lower during the week gone by, as IT sector witnessed a drag owing to a weak set of numbers being declared by one of the majors. The concerns regarding global economic outlook too impacted the sentiments; a strong growth reported by China failed to meaningfully influence the bulls. Over the near term the markets may be expected to be volatile, led by very stock specific movements as the earnings season goes underway in full swing

Views by: Joseph Thomas, Head of Research, Emkay Wealth Management 

3:54 PM

Currency check :: Rupee ends weaker at 82.66/$ against Thursday's close of 82.60/$

3:52 PM

Buzzing stock :: HT Media declines over 5% as Q4 loss widens

3:51 PM

Buzzing stock :: UNO Minda drops 5% post Q4 result announcement

3:49 PM

Buzzing stock :: Nexus Select REOT ends with 4% premium on debut day

3:48 PM

Buzzing stock :: Thomas Cook sinks 8% even as Co narrows loss in Q4

3:46 PM

Buzzing stock :: Gland Pharma freezes at 20% lower circuit on disappointing Q4

3:45 PM

Buzzing stock :: The Ramco Cements surges 8% as investors cheer Q4 show

3:43 PM

Buzzing stock :: Tata Motors zooms over 3%, ends as top gainer on Sensex

3:42 PM

Buzzing stocks :: All Adani group stocks gain in trade as SC Panel report remains 'inconclusive'

The Supreme Court’s six-member panel said that “prima facie it would not be possible to conclude if there has been a regulatory failure around the allegation of price manipulation in the Adani scrips,” in the Adani-Hindenburg case. It has recommended that all investigation be completed in a time-bound manner.

3:39 PM

Broader market check :: Mid, SmallCap indices see profit booking

3:37 PM

Sectoral check :: All but Pharma, FMCG indices settle with gains

3:35 PM

Sensex Heatmap :: Gainers outrun losers in fag-end; TaMo rises 3%, Tech M 2%

3:34 PM

CLOSING BELL :: Nifty reclaims 18,200

3:33 PM

CLOSING BELL :: Sensex snaps 3-day losing streak, settles nearly 300 pts higher

3:27 PM

Repro zooms 48% in 1 week after Madhuri Kela acquires 3.6% stake in company

According to disclosure made by Repro India, on May 15, 2023, Madhuri Madhusudan Kela and Brijkishor Trading Private Limited collectively acquired 475,000 equity shares, representing 3.59 per cent stake, of Repro India via the open market. Post the acquisition, their total holding in the company has increased to 6.89 per cent from 3.30 per cent, it added. READ MORE

3:15 PM

ALERT:: Godrej Industries Q4 net jumps 33%; stock up 2%

Godrej Industries today reported a 33 per cent growth in Q4 consolidated net profit at Rs 562.16 crore for the quarter ended March 2023 when compared with Rs 422.82 crore in the corresponding quarter a year ago. Total income was up 7.6 per cent YoY at Rs 5,085.24 crore.

 

3:07 PM

ALERT:: Route Mobile Q4 net zooms 119%; stock up 1.5%

Route Mobile reported a 119.4 per cent surge in Q4FY23 net profit at Rs 104.05 crore as against Rs 47.42 crore in Q4FY22. Total income rose 61.3 per cent YoY to Rs 1,023.26 crore.

2:58 PM

Expect RBI to start rate cuts by end of FY24: HDFC Bank chief economist

Abheek Barua said that the Indian economy is expected to grow at 4.4% in the quarter ended March 31. READ MORE

2:49 PM

ALERT:: RateGain Technologies Q4 net jumps 3-fold; stock rallies 4%

RateGain Travel Technologies Q4FY23 net profit soared by 191 per cent to Rs 33.79 crore as against Rs 11.61 crore in Q4FY22. Total income rose 64.7 per cent YoY to Rs 187.73 crore.

2:41 PM

ALERT:: WPIL Q4 net rises 32%; stock hits 5% upper limit

2:33 PM

Hard to pinpoint regulatory lapse in curbing Adani price rigging: SC panel

In a briefing called by the committee, Sebi said it did not find any evidence of "wash trades" even after putting Adani group scrips under various surveillance measures. READ MORE

2:25 PM

ALERT:: Kirloskar Oil Engines Q4 net falls 46%; stock cracks 6%

Kirloskar Oil Engines today reported a net profit of Rs 64.89 crore for the fourth quarter ended March 2023 when compared with Rs 119.56 crore in the corresponding quarter a year ago. Total income was up 16.7 per cent YoY at Rs 1,163.97 crore.

2:16 PM

ALERT:: TajGVK Hotels Q4 net soars 435%; stock flat

TajGVK Hotels reported a net profit of Rs 14.40 crore for Q4FY23 as against Rs 2.70 crore in Q4FY22 - up 434.8 per cent. Total income rose 63 per cent YoY to Rs 106.26 crore.

2:08 PM

Asian Market Update:: Hang Seng slips 1.3%; Nikkei gains 0.8%

Source: Yahoo Finance

1:54 PM

SC Panel report on Adani-Hindenburg case: Info about 42 investors in FPIs is available under PMLA Rules

>> Sebi made reference to ED, CBDT w.r.t ownership pattern of 42 investors

>> Regulator's suspicion can't be translated into a firm case of violation

1:49 PM

Adani Group stocks trade mixed as SC panel makes investigation report public

An expert committee, constituted by India's Supreme Court, to investigate the Adani Group said it was not possible to conclude if there has been regulatory failure regarding price manipulations. READ MORE

1:38 PM

SEBI plans to restrict borrowing by AIFs to prevent systemic risk

Market regulator also proposes mandatory renewal of AIF registrations on completing five years. READ MORE

1:32 PM

STOCK ALERT:: Adani Enterprises gains 2% after SC Panel report made public