Stock Market Highlights, May 24: Indices end flat after hitting record highs; Nifty below 23,000

Stock market highlights on Friday, May 24: Among sectors, the Nifty Bank, and Private Bank indices added 0.4 per cent each

3:19 PM

Lok Sabha election result 2024 :: NDA racing forward on 294, INDIA Alliance on 232 seats

3:46 PM

Comment :: 'Buy dip around 22,750-22,850 in Nifty'

It's common to see a pause after a strong upward move, and traders should view any dip around 22,750-22,850 in Nifty as a buying opportunity.

While key sectors are contributing to the upward movement, we are now seeing more selective participation. Therefore, it is advisable to focus on stock selection, with a preference for large-cap and large mid-cap stocks.

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

3:44 PM

Currency check :: Rupee ends 19 paise higher at 83.09/$ vs Wednesday's close

3:42 PM

IPO Update :: Awfis Space issue subscribed 10x so far on day 3

3:40 PM

Broader markets :: Indices end mixed; MidCap outperforms peers

3:39 PM

Sectoral trends :: Bank, Financial Services' indices rise the most

3:37 PM

Sensex Heatmap :: HDFC Bank, Airtel, L&T help index trim losses

3:36 PM

Closing Bell :: Nifty fails to hold 23,000

3:35 PM

Closing Bell :: Sensex ends 8 pts lower after a choppy session in narrow range

3:28 PM

Defense stocks extend rally; BDL, CSL, GRSE, BEL zoom over 25% in 1 week

In the past one week, CSL (44 per cent), BDL (42 per cent), GRSE (39 per cent) and BEL (27 per cent) have soared more than 25 per cent each. The remaining three stocks gained between 18 per cent and 19 per cent. In comparison, the S&P BSE Sensex was up 2.5 per cent during the period. READ MORE

3:15 PM

Hindalco Q4 results: Net profit rises 31.6% to Rs 3,174 crore, revenue flat

Consolidated revenue from operations for the fourth quarter grew marginally by 0.25 per cent to Rs 55,994 crore Y-o-Y from Rs 55,857 crore. READ MORE

3:04 PM

Defense stocks extend rally; BDL, CSL, GRSE, BEL zoom over 25% in 1 week

Bharat Dynamics hit a new high of Rs 1,650, zooming 17% in intra-day trade after the stock of state-owned defense company turned ex-date for 1:2 split on Friday. READ MORE

2:51 PM

Small-cap firm Cheviot to buyback shares worth Rs 31.5 cr at Rs 1,800/ sh

Cheviot buyback news: Shares of Cheviot Co declined 5.3 per cent to Rs 1,476 apiece on the BSE on Friday. READ MORE

2:38 PM

PSP Projects slips 4% after Q4 profit plunges 66%; check details here

PSP Projects stocks fall:PSP Projects stock fell sharply after the company announced its Q4FY24 results during market hours, on Friday. The stock fell as much as 4.27 per cent to hit an intraday low of Rs 656.20 per share. READ MORE

2:28 PM

ALERT:: Ashok Leyland Q4 net rises 53%; 3.4-fold; stock up 1%

Ashok Leyland today posted 53.3 per cent growth in Q4 consolidated net at Rs 933.69 crore for the quarter ended March 2024 as against Rs 608.85 crore in the year ago period. Revenue from operations was up 2.8 per cent YoY at Rs 13,577.58 crore from Rs 13,202.50 crore.

2:18 PM

PE funds partly behind the 62% drop in India's net FDI? Samir Arora's view

The ace fund manager was reacting on 'X' to a Business Standard story that quotes a Reserve Bank of India (RBI) data on gross FDI flows into the country in FY24. READ MORE

2:06 PM

ALERT:: Hindalco Q4 net jumps 3.4-fold; stock up 1%

Hindalco today reported 239 per cent surge in Q4FY24 net profit to Rs 8,174 crore when compared with Rs 2,411 crore in Q4FY23. Revenue from operations rose 0.2 per cent YoY to Rs 55,994 crore from Rs 55,857 crore in the same period.

1:57 PM

This small-cap stock dropped 7% in trade on May 24; dividend announced

Landmark Cars' net profit dropped over 54 per cent to about Rs 11 crore in the fourth quarter of financial year 2024 (Q4FY24), from Rs 24.3 crore in the same quarter previous fiscal (Q4FY23). READ MORE

1:46 PM

Large MFs less likely to confront promoters in voting on resolutions

Mutual funds are becoming more assertive with companies they have investments in, but the largest ones are less likely to take confrontational positions. READ MORE

1:35 PM

Honasa Consumer zooms 7% on record Q4 profit; should you buy, sell, hold?

Honasa Consumer stock price: The spurt comes as the beauty and personal care company reported its highest-ever net profit of Rs 30.5 crore in the March quarter of the financial year 2023-24 (Q4FY24). READ MORE

1:23 PM

This smallcap stock has zoomed 463% in 1 year; trades 3:1 ex-bonus on Friday

Inox Wind stock update: The stock hit a record high of Rs 166 and was locked at the 10% upper circuit on turning ex-bonus on Friday. READ MORE

1:11 PM

Adani Enterprises recovers all stock market losses sparked by Hindenburg

The flagship's stock rose 1.7% to 3,445.05 in Mumbai on Friday and has now almost tripled since its nadir in February 2023. READ MORE

1:00 PM

Bayer CropScience stock declines 6% on Friday post Q4; Check details here

Bayer CropScience's revenue slipped 19.5 per cent on a year-on-year (Y-o-Y) basis to Rs 792 crore as opposed to Rs 983 crore in the same quarter a year ago. READ MORE

12:49 PM

Special situation funds: Ideal for high-risk investors with long horizon

These funds at times invest in companies going through corporate restructuring, such as mergers, demergers, or buybacks. READ MORE

12:38 PM

Asian Market Update:: Nikkei, Hang Seng sulk in Asian trade, dip over 1%

12:26 PM

Finolex Cables stock hits record high; zooms 19% on healthy Q4 results

Finolex Cables stock update: The company's board also recommended a dividend of 400% i.e. Rs 8 per share on face value of Rs 2. READ MORE

12:15 PM

Shriram Life posts FY24 PAT at Rs 158 cr, new business premium rises 62%

Shriram Life Insurance has reported a profit after tax of Rs 158 crore for the financial year ending March 31, 2024. The company had registered a PAT of Rs 156 crore during the same period of last financial year. READ MORE

12:04 PM

JK Lakshmi Cement shares rally 7% on healthy Q4; up 15% in last one year

The surge in JK Lakshmi Cement share was fuelled by robust Q4FY24 results, which came in line with street estimates. READ MORE

11:53 AM

Adani Enterprises stock at 16-mth high; here's what aided the recent gains

Adani Enterprises stock update: The stock was up 2 per cent in Friday's intra-day deals after the company said its board will meet on 28 May to consider fund raise. READ MORE

 

11:40 AM

HDFC Securities recommends Bull Spread on Bank Nifty

>> Long build up is seen in the BANK NIFTY Futures, where Open Interest rose by 1 per cent (Prov) with BANK NIFTY rising by 2.05 per cent.

 

>> The short-term trend turned positive as BANK NIFTY has closed above its 5,11 and 20-day EMA. READ MORE