Stock Market Highlights, May 15: Mid, SmallCap indices shine, Benchmarks end listless

Stock Market LIVE updates on Wednesday, May 15, 2024: Among sectors, the Nifty PSU Bank index added 1.4 per cent, followed by the Nifty Realty (1 per cent)

3:52 PM

Comment :: 'Moves in US yields to be watched ahead of inflation data'

The market witnessed a sideways movement throughout the day as the emotions of investors were impacted by the election-led jitters. FIIs continued to remain in the selling mode; however, domestic investors were largely concentrated on stock-specific picks.

The positive results from the capital goods sector and robust growth outlook gained investors’ attention and led the segment to outperform. A drop in US 10yr yield ahead of the release of sensitive CPI data from the US will be watched carefully by the market to gain insights on rates.

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

3:50 PM

Tech View :: 'Nifty bank faces resistance at 48,000'

The BankNifty index experienced sideways trading during the weekly expiry day, encountering resistance at the 48,000 level. To sustain the upward momentum, the index must decisively surpass this mark, targeting levels around 48,500. On the downside, support is positioned at 47,200, presenting favorable buying opportunities on dips toward this level.

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

3:49 PM

Tech View :: 'Failure to sustain 22,200 may intensify selling in Nifty'

The Nifty largely traded sideways as the index failed to generate any significant directional breakout. Bulls struggled to push Nifty above the 22,250 mark on a closing basis. Sentiment remains subdued as long as it stays below 22,250. A decisive move beyond this level could potentially propel Nifty towards 22,600 and beyond. Conversely, a failure to sustain above 22,200 might invite selling pressure in the market.

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

3:47 PM

Comment :: 'Remain cautious on Nifty'

We maintain our cautious outlook on the Nifty index, highlighting the resistance in the 22,300-22,400 zone, and suggest continuing with a stock-specific trading approach. In addition to domestic factors, it's advisable to closely monitor the US markets for cues.

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

3:45 PM

Currency check :: Rupee ends 1 paise higher at 83.498/$

3:43 PM

Go Digit IPO update :: Issue subscribed 29% till 3:30 PM on Day 1

3:42 PM

Broader markets :: Mid, SmallCap indices outperform on May 15

3:40 PM

Sectoral trends :: PSB, Realty stocks rally; Pvt banks slip

3:39 PM

Sensex Heatmap :: HDFC Bank, RIL, TaMo weigh on benchmarks

3:38 PM

Closing Bell :: Nifty holds 22,200

3:36 PM

Closing Bell :: Sensex ends volatile session in the red

3:28 PM

This renewable EPC solution provider stk has zoomed 119% against QIP price

SWREL had a strong recovery in financial performance and the company turned Ebitda (earnings before interest, tax, depreciation and amortisation) positive at Rs 54 crore in FY24 backed by robust growth recorded in the domestic engineering, procurement, and construction (EPC) business. READ MORE

3:18 PM

ALERT :: Bharti Airtel Concall update

>> Need significant repair in tariffs

>> ARPU of Rs 300 will be among lowest

>> India will be well served with 3 telcos

>> Expect to see moderation in capex in FY25

>> Revenue earnings customer addition is based on the roll-out we have done

3:10 PM

Stock Alert :: M&M hits record high ahead of Q4 results tomorrow

2:56 PM

Market Check :: Top gainers on the BSE at this hour

2:42 PM

LS polls 2024: Foreign investors most short on India stocks since 2012

Foreign investors are the most pessimistic in over a decade on Indian stocks amid speculation over Prime Minister Narendra Modi’s party winning fewer seats in the ongoing national elections than previously estimated. READ MORE

2:34 PM

Equity Savings Funds: Where to invest during volatility as polls approach

Equity Savings Funds, a type of hybrid mutual fund, could be a suitable option for investors seeking some protection against volatility during this time, said Mirae Asset mutual fund in a note. READ MORE

2:30 PM

Indian small car exports thrive as domestic demand shifts to SUVs

Smaller Made in India cars from Maruti Suzuki, Hyundai, Kia, Citroen, Volkswagen, Honda, Nissan and Renault are finding markets abroad as domestic demand turns to SUVs and large, feature-packed vehicles, the Times of India reported. READ MORE

2:24 PM

Go Digit IPO subscription update

2:19 PM

ALERT:: April Trade data

India 'sApril exports at $34.99 billion; imports at $54.09 billion; and trade deficit at $19.1 billion.

2:17 PM

Keystone Realtors reports Q4 results

Keystone Realtors Q4 profit drops 60% to Rs 30.7 crore while revenue jumps to Rs 811 crore.
 

 

2:11 PM

$700 mn buyout deal shows new way of moving assets, holding equity in India

A new method for private equity funds to return profits to investors may gain traction in India. ChrysCapital Management Co. recently used a so-called continuation fund to raise $700 million from investors to maintain its minority stake in National Stock Exchange of India Ltd. This relatively new portfolio management tool allows private equity managers to move assets around more easily, as a way to hold them for longer. READ MORE

2:02 PM

LS polls 2024: Foreign investors most short on India stocks since 2012

The bearish positions in the derivatives market have come at a time when overseas investors have pulled out about $4 billion from local stocks since early April, reflecting a cautious outlook about the outcome of the elections. READ MORE

1:48 PM

Clean Science reports Q4 earnings

Clean Science Q4 net profit dropped nearly 13 per cent on Y-o-Y basis to Rs 70.2 crore. Its revenue, however, rose 5 per cent to Rs 227.5 crore during the same period.

1:43 PM

Rail-related stocks in demand for second straight day; RailTel, RVNL lead

Shares of railway-related companies were trading with a positive bias for the second straight trading session, after sentiment of these counters were bolstered following statements by key ministers expressing confidence over continued reforms post election results. READ MORE

1:42 PM

Shares of Union Bank, Indian Bank, and BoI jump up to 5%: here's why

Public sector banks (PSBs) Union Bank of India, Indian Bank, Canara Bank and Bank of India’s shares shot up by 4.64 per cent, 4.47 per cent, 4.37 per cent and 2.32 per cent, respectively on the BSE in Wednesday’s intraday deals. READ MORE

1:31 PM

Jyothy Labs announce Q4 results

The company’s Q4 consolidated net profit came in at Rs 78.2 crore, from Rs 59 crore Y-o-Y.

 

1:29 PM

Manali Petrochemical unit signs pact with Krahn UK for silicone oils in UK

1:21 PM

Canada imposes Rs 82 lakh penalty on Infosys for underpayment of tax

The Canadian government has fined IT giant Infosys approximately Rs 82 lakh for allegedly failing to fulfil the complete employee health tax obligation for the financial year ending December 31, 2020. READ MORE

1:12 PM

SAIL's Bhilai steel plant to install solar energy systems in premises

The flagship unit of the country's largest steel maker Steel Authority of India Limited (SAIL), BSP, has recently signed a memorandum of understanding with the Chhattisgarh State Renewable Energy Development Agency (CREDA) for the solar power generation project within the unit's premises, a statement issued by the plant management said on Wednesday. READ MORE