Stock Market Highlights, May 28: Sensex falls 220 pts after listless session; SmallCaps bleed

Stock Market Highlights on May 28, 2024: The losses were steeper in the broader markets where the BSE MidCap fell 0.63 per cent, and the BSE SmallCap slipped 1.09 per cent

3:48 PM

Tech View :: Two technical indicators suggest bullish momentum in Bank Nifty

The Bank Nifty index found strong resistance at 49,500-49,600 due to visible selling pressure, while 49,000 serves as a robust support level.

The momentum indicator RSI at 61 and the index maintaining above its 14-day EMA indicate a bullish undertone.

A buy-on-dips strategy is recommended, with a stop-loss set at 48,700. On the higher end, 49,500-600 might continue to remain a strong resistance

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

3:46 PM

Tech View :: How to trade Nifty? Check key levels to watch

Significant Call writing was observed at the 23,000 strike price, followed by the 23,100 and 22,900 strikes.

In comparison to the heavy Call writing, Put writers were less active, leading to a decline in the PCR. The high India VIX suggests that market volatility might remain elevated.

On the higher end, the 22,950-230,00 zone might act as a strong resistance, and any rise may attract selling pressure. On the lower end, the Nifty might drift down towards 22,800/22,600.

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

3:43 PM

Currency check :: Rupee ends 4 paise lower at 83.18/$

3:41 PM

Broader markets :: SmallCap index declines 1%

3:39 PM

Sectoral trends :: Realty index suffers the most, PSBs follow

3:38 PM

Sensex Heatmap :: Power Grid, NTPC, Tech M, Airtel top laggards on 30-stock index

3:37 PM

Closing Bell :: Nifty ends below 22,900

3:36 PM

Closing Bell :: Sensex declines over 200 pts in fag-end

3:28 PM

Paytm Insider announces elevation of Varun Khare to position of COO

Paytm Insider claims to have recorded over 100 per cent growth in gross merchandise value (GMV) for the past two years under Khare's leadership as business head. The Mumbai-based company said revenues have quadrupled during the same period. READ MORE

3:22 PM

ALERT :: India, France to begin negotiations in Rs 50,000-crore Rafale Marine jet deal, says report

>> Deal is for 26 jets

>> Negotiations likely to happen this week

Source: ANI

3:10 PM

Lok Sabha 2024 poll outcome: Retail investors' boldest bet in 10 years

“The probability of the NDA not forming the government is very low. Though India VIX has spiked to 26 levels now as compared to 10.3 levels in April 2024, it is still much lower than the 35-odd levels seen in 2019. That said, retail investors can hedge their position by buying ‘Puts’. I expect profit booking to set in post the Lok Sabha poll outcome is known. The Nifty50 index can slip 3 – 4 per cent,” he said. READ MORE

3:01 PM

This software stock has soared 69% in 3 days; zoomed 100% in last 1 month

The company remains quite optimistic about the xorkee offerings with the offerings already gaining reputation of being the most user and customer friendly in the market and hence the adoption has been gaining pace. The company remains extremely optimistic in its outlook. READ MORE

2:48 PM

3M India announces Q4 results; profit rises 27% to Rs 173 crore

2:46 PM

RITES announces Q4 results

2:36 PM

Dreamfolks announces Q4 results; profit falls 29% to Rs 18 crore

2:34 PM

Shalby announces Q4 results

2:31 PM

Hind Rectifiers locked in 5% upper circuit post Q4 results

2:28 PM

Hero MotoCorp hits record high

2:20 PM

TTK Prestige announces Q4 results; profit falls 1% to Rs 57.4 crore

2:17 PM

Rail Vikas Nigam Limited emerges as lowest bidder for a project of Rs 73 crore

2:06 PM

Broader markets update; SmallCap index falls 1%

1:50 PM

Lok Sabha elections 2024: Why is India VIX up 5% on Tuesday, May 28?

Equity markets were listless in trade on Tuesday as Lok Sabha elections-related jitters kept investors on the sidelines. The volatility index, India VIX, too, showed heightened investor concern as the index rose over 5 per cent intraday to hit a high of 24.48 level.

India VIX, or Volatility Index, measures the market's expectation of volatility in the next 30 days. The index has been on an uptrend ever since the 2024 Lok Sabha elections started in India. Read more

1:39 PM

Asian markets update

1:24 PM

Marico rallies 20% in one month; check key factors behind the sharp up move

Shares of Marico hit a new high of Rs 615.60, up 2 per cent on the BSE in Tuesday’s intra-day trade in otherwise subdued market. In past one month, the stock of fast moving consumer goods (FMCG) company Marico has outperformed the market by surging 20 per cent.

In comparison, the S&P BSE Sensex was down 0.06 per cent at 75,346 at 12:30 pm. In past one month, the benchmark index and the S&P BSE FMCG index are up 1 per cent. Read more

1:09 PM

Goodyear India falls 6% on weak Q4 results; Rs 15 dividend announced

Tyre manufacturer Goodyear shares have dropped as much as 5.78 per cent to hit an intraday low of Rs 1,140 per share, on Friday, after the company announced a weak set of March quarter (Q4FY24) results.

Goodyear India’s net loss stood at Rs 4.2 crore in the March quarter of financial year 2024 (Q4FY24), as opposed to net profit of Rs 33.6 crore in the same quarter a year ago (Q4FY23). Read more

12:57 PM

Natco Pharma stock surges 8%, hits new 52-week high on strong Q4 show

Shares of Natco Pharma surged up ro 7.67 per cent, hitting its 52-week high of Rs 1,108.95 per share on the BSE in Tuesday’s intraday deals. The hike in stock price came after Natco Pharma delivered its January-March quarter earnings for the fiscal year 2023-24 (Q4FY24). 

On Monday, the company reported a 40.1 per cent year-on-year (YoY) surge in net profit, totaling Rs 386.3 crore in Q4FY23, up from Rs 275.8 crore registered in the same quarter of the previous fiscal year. Read more

 

12:45 PM

Market Check :: Nifty near day's low

12:36 PM

NMDC falls 2% on weak Q4 performance; Rs 7.25 dividend announced in FY24

The management said the company's focus in FY25 would be towards recovering the revenues lost during the challenging situation of FY24, by way of more extensive demand generation and brand building efforts, especially for recently launched products in the last 2-3 years. The company also plans to continue to follow disciplined approach towards margins, fixed costs and working capital. READ MORE

12:26 PM

India to stick to policy path whether PM Modi wins 3rd term or not: Rajan

India’s six-week elections comes to end on June 1, with results expected on June 4. Modi’s Bharatiya Janata Party is widely expected to return to office, although there’s uncertainty about whether it will be able to expand its majority as Modi has been predicting. Financial markets are bracing for a possible selloff if the BJP loses support, concerned about a possible shift away from economic reforms. READ MORE

12:16 PM

Market Check :: Broader markets nurse losses; SmallCap index slips 1%