Stock Market Highlights, May 13: Sensex recoups 910 pts from low, ends 112 pts up; Nifty holds 22100

Stock market highlights, Monday, May 13, 2024: In the broader markets, the BSE MidCap index gained 0.36 per cent, while the BSE SmallCap fell 0.23 per cent

3:48 PM

Comment :: 'Breaching 22,300 for Nifty looks challenging'

Despite the persistent rise in the volatility index, the Nifty found support at the critical 21,800 level. Anticipated stability in banking majors and select heavyweights in sectors such as IT and energy may foster further upward movement, although breaching the 22,300-22,400 range could prove challenging. Given this scenario, participants are advised to adjust their positions cautiously and refrain from overly aggressive trading strategies.

Views by: Ajit Mishra – SVP, Research, Religare Broking

3:46 PM

Tech View :: 'Nifty Bank may stage pullback'

The Bank Nifty index saw a strong recovery from lower levels and managed to hold onto its support at the 100-day exponential moving average (EMA). There's a potential for a pullback towards its 20-day moving average (DMA), positioned at 48,200. As long as the index maintains the support level of 47,200 on the downside, where bullish activity is evident, the index remains in a buy mode.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

 

3:45 PM

Currency check :: Rupee ends 3 paise weaker at 83.527/$

3:42 PM

Broader markets :: SmallCap index ends lower despite broad-based rebound across markets

3:40 PM

Sectoral trends :: Auto, PSBs weigh on markets

3:39 PM

Sensex Heatmap :: Tata Motors drops 8%, Asian Paints gains over 3%

3:38 PM

Closing Bell :: Nifty holds 22,100

3:37 PM

Closing Bell :: Sensex rebounds over 900 pts from lows, ends in green

3:29 PM

Syrma SGS plunges 18% as profit margins contract in Q4FY24

Syrma SGS' gross profit margin and Ebitda margin contracted 430bps and 222bps, respectively, year-on-year (Y-o-Y) due to higher commodity costs, and change in revenue mix. This also impacted the company's profitability. READ MORE

3:21 PM

This smallcap stock has zoomed 30% in 2 days on heavy volumes

D-Link (India)'s board on Saturday recommended a dividend of Rs 8 per equity share and a special dividend of Rs 5 per equity share totalling to Rs 13 per equity share for FY24. READ MORE

3:09 PM

Zomato Q4 results preview: Analysts expect rise in food delivery revenues

Zomato is expected to deliver strong earnings growth in the fourth quarter of the financial year 2023-24. READ MORE

3:02 PM

Stock market will 'shoot up' on June 4 after PM Modi's victory: Amit Shah

The Indian stock market will 'shoot up' after the Lok Sabha elections 2024 results are announced on June 4, said Union Home Minister Amit Shah and encouraged investors to buy before that. READ MORE

2:51 PM

ALERT:: Aditya Birla Capital Q4 net zooms 105%; stock gains 3%

Aditya Birla Capital today reported 104.60 per cent surge in Q4 net profit at Rs 1,245.41 crore for the quarter ended March 2024 when compared with Rs 608.65 crore in the corresponding quarter a year ago. Reveneu from operations grew by 36.3 per cent YoY to Rs 10,939.96 crore from Rs 8,024.95 crore.

2:39 PM

Varun Beverages Q1 results: Revenue up 11.3%, net profit at Rs 537 cr

Consolidated revenue from operations in the first quarter stood at Rs 4,397.98 crore as against Rs 3,952.59 crore in the year-ago period, it added. READ MORE

2:24 PM

Brokerages mixed on Eicher Motors after Q4; check latest target prices

Overall, Eicher Motors reported promising numbers, with profits surging over 31 per cent to Rs 983.3 crore in Q4FY24, compared to Rs 747 crore in Q4FY23. READ MORE

2:13 PM

Neuland Labs plunges over 14% on weak Q4 performance; Profit, margins drop

Neuland Labs total income fell by 6 per cent year on year (YoY) to Rs 390 crore in Q4FY24 as against Rs 415 crore in Q4FY23. READ MORE

2:05 PM

ALERT:: Sensex rebounds, up 900 pts from day's low

1:43 PM

Airtel, Google Cloud partner to propel cloud adoption & gen AI in India

Telecom major Bharti Airtel and Google Cloud have announced a long-term collaboration aimed at delivering cutting-edge cloud solutions to businesses across India. READ MORE

1:30 PM

Asian Market Update:: Hang Seng, Taiwan up in mixed trade

1:17 PM

This large cap MNC stock has zoomed 101% since November

Siemens stock update: In past three months, since Q1 results, Siemens has appreciated by 54 per cent after the company reported healthy earnings. READ MORE

1:04 PM

ALERT:: Royal Orchid Hotels launches 5-star hotel in Gujarat; stock down 4%

Royal Orchid Hotels in an exchange filing today announced the launch of 'The World', the largest All-Suite 5-star hotel in Gujarat and the debut hotel by ROHL in Surat.

12:49 PM

Piramal Pharma zooms over 10% on strong Q4 earnings; CDMO biz gives boost

In Q4FY24, Piramal Pharma reported a 102 per cent Year-on-Year (YoY) surge in Profit After Tax (PAT), totaling Rs 101.27 crore. READ MORE

https://www.business-standard.com/markets/news/phase-4-lok-sabha-polls-stock-markets-is-low-voter-turnout-a-worry-124051300385_1.html?1715582593

12:34 PM

Lok Sabha polls & stock market: Is the voter turnout dip worrying D-Street?

The first phase of Lok Sabha polls 2024 took place on April 19. The Nifty plunged 1 per cent in intra-day deals, but eventually ended 0.7 per cent higher, data shows. READ MORE

12:21 PM

Sensex sinks 800 pts, Nifty below 21,850: What's worrying the Street?

Indian equities continued their downward trend on Monday, May 13, amid caution ahead of the Lok Sabha election results. Additionally, offloading of shares by foreign institutional investors (FIIs), and lacklustre Q4 results from blue-chip companies, further dampened the market sentiment. READ MORE

12:07 PM

BEML surges 13% on solid jump in Q4 net, hefty dividend

BEML's order book as on April 01, 2024, stood at Rs 11,872 crore as against Rs 8,570 crore in the previous year, an increase of 38.5 per cent. READ MORE

11:46 AM

Cipla surges 6% in weak market on upbeat management commentary

Shares of Cipla surged 6 per cent to Rs 1,465.25 on the BSE in Monday's intraday trade, in an otherwise weak market, on upbeat management commentary which guided 24.5 per cent-25.5 per cent Ebitda (earnings before interest, taxes, depreciation, and amortisation) margin for FY25. This guidance does not factor in USFDA compliance at the Goa site. Read more

11:39 AM

India, Iran to ink Chabahar Port deal today; Sonowal flies after EC's nod

India and Iran are set to sign the long-term agreement for the operation and management of Chabahar Port on Monday. Union shipping minister Sarbananda Sonowal will be in Tehran to ink the pact, sources told Business Standard. Read more

11:20 AM

State-owned Bank of India tanks over 12% as slippages, credit cost soars

Shares of State-owned Bank of India (BoI) tanked 12.3 per cent at Rs 121.70 per share on the BSE in Monday’s intraday deals. The steep drop in the stock prices came despite registering a decent increase in the bank’s net profits and interest income. Read more

11:08 AM

India VIX soars 16%, hits 21-mark on NSE on May 13; more volatility ahead?

The Indian stock market's fear gauge -- India VIX -- soared 16 per cent in the early morning deals on Monday, May 13, 2024, to hit 21.41-mark on the National Stock Exchange (NSE).  

India VIX, or Volatility Index, which measures the market's expectation of volatility in the next 30 days, has been seeing wild swings over the past few days as investors try to pre-empt the number of seats that the ruling Bharatiya Janata Party (BJP) might win during the 2024 Lok Sabha elections. Read more

10:44 AM

Cyient, KPIT, Tata Tech: Analysts cut FY25 earnings of E&RD cos; here's why

The Indian engineering research and development (ER&D) players, such as Tata Technologies, Tata Elxsi and Cyient among others had a subdued January-March quarter (Q4) of fiscal year 2023-24 (FY24). And, as outlook for FY25 also remains unexciting amidst weak discretionary spends, analysts have cut their growth expectations for the ongoing financial year (FY25). Read more