Page 1047 - Markets News
NHPC, Tech Mahindra are top buying picks by HDFC Securities for May 22
Stock Price has broken out from downward sloping trend line on the weekly chart. Stock has surpassed the previous swing high resistance
 "NHPC, Tech Mahindra are top buying picks by HDFC Securities for May 22")
Buy ideas for May 22: Britannia, Cipla; check target prices
Cipla was in a downtrend and corrected ~13 per cent in the recent fall. On the daily charts it formed an Inverted Head and Shoulders pattern which is a Trend reversal pattern
 "Buy ideas for May 22: Britannia, Cipla; check target prices")
Nifty Bank, PSU Bank signal bullish trend on charts; key levels here
The Nifty PSU Bank Index, currently at 7,264.75, exhibits a bullish trend on the charts. However, it is approaching a significant resistance range between 7,265 and 7,365
 "Nifty Bank, PSU Bank signal bullish trend on charts; key levels here")
BSE Metal index rises over 4%, posts biggest single-day jump in 17 months
Apart from the rise in metal prices, some stock-specific reasons, like the demerger of Vedanta group companies into separate entities, have also led to the rally in the metal pack
 "BSE Metal index rises over 4%, posts biggest single-day jump in 17 months")
Sebi issues framework to shield stock price impact from market rumours
Framework aimed at providing price protection to acquirers
 "Sebi issues framework to shield stock price impact from market rumours")
From 41 to 104: High-valued stock universe up 2.5x in a single year
Number of stocks commanding P/E ratios over 50x in March 2023 reflects market confidence
 "From 41 to 104: High-valued stock universe up 2.5x in a single year")
Sebi eases minimum promoter contribution norms to boost IPO process
Sebi has permitted promoter group entities and non-individual shareholders to contribute to the mandated promoters' contribution in case of a shortfall without being identified as a promoter
 "Sebi eases minimum promoter contribution norms to boost IPO process")
Sell stocks in May and go away: Here's why it may be a bad strategy in 2024
The government, too, is hopeful that the bull-run in the Indian stock market will continue. PM Modi recently said in an interview that Indian stock markets will break all previous records on June 4
 "Sell stocks in May and go away: Here's why it may be a bad strategy in 2024")
Sun Pharma Q4 Preview: Profits may grow up to 41% on higher specialty sales
Sun Pharma is set to see a strong financial earnings on a year-on-year (Y-o-Y) basis for Q4FY24, showing a 8-14 per cent Y-o-Y jump in its topline
 "Sun Pharma Q4 Preview: Profits may grow up to 41% on higher specialty sales")
Market-cap of BSE-listed firms hits $5 trillion; analysts see more upside ahead
The market capitalisation of BSE-listed companies jumped to a lifetime peak of Rs 414.62 trillion ($4.99 billion) on Tuesday by close. It had soared past the $5 trillion mark in intraday deals
 "Market-cap of BSE-listed firms hits $5 trillion; analysts see more upside ahead")
Sebi changes rule to determine mcap, 6-month average to be used now
Instead of using the market capitalisation of a single day (currently March 31), listed companies will now use the "average market capitalisation" for a six-month period
 "Sebi changes rule to determine mcap, 6-month average to be used now")
Stock Market Highlights, May 21: Market-cap of BSE-listed firms hits $5 trillion mark
Stock Market Highlights on Tuesday, May 21, 2024: The S&P BSE Sensex ended at 73,953, down 53 points, while the Nifty50 ended above 22,500, up 27 points
 "Stock Market Highlights, May 21: Market-cap of BSE-listed firms hits $5 trillion mark")
Vedanta nears record high on improved outlook; zooms 94% from March low
In past three trading days, it rallied 12% after declared first interim dividend of Rs 11 per share for FY25 and approved to raise funds up to Rs 8,500 crore by various financial instruments.
 "Vedanta nears record high on improved outlook; zooms 94% from March low")
This stock has zoomed 1172% against IPO price in 5 yrs; m-cap hits Rs 1 trn
At 12:02 PM; Polycab India was trading 4% higher at Rs 6,736.80 on the BSE
 "This stock has zoomed 1172% against IPO price in 5 yrs; m-cap hits Rs 1 trn")
CPSE stocks on a roll; RVNL, Hudco, SJVN, Cochin Shipyard surge up to 15%
CPSE stocks: At 02:08 PM, the CPSE index, the top gainer among broader indices, was up 2.5 per cent
 "CPSE stocks on a roll; RVNL, Hudco, SJVN, Cochin Shipyard surge up to 15%")
Nifty Metal index hits record high on May 21; what's fuelling the rally?
The surge in the metal index, analysts believe, is largely credited to Vedanta's robust Q4 performance and its first interim dividend declaration of Rs 11 for FY25
 "Nifty Metal index hits record high on May 21; what's fuelling the rally?")
Trident tanks 9% on weak Q4 performance; declares 36% dividend
Trident's net profit declined 54.8 per cent to Rs 59 crore in Q4 of financial year 2024, from Rs 130.6 crore in the same quarter a year ago (Q4FY23)
 "Trident tanks 9% on weak Q4 performance; declares 36% dividend")
Crude oil to trade in narrow range ahead of Opec meeting; check key levels
Crude oil outlook: Crude oil prices are expected to trade in a fairly tight range ahead of the key OPEC+ meet on June 1
 "Crude oil to trade in narrow range ahead of Opec meeting; check key levels")
Govt likely to cut bond sales aided by higher cash balance: Officials
The yield on benchmark 10-year bond was little changed at 7.09 per cent on Tuesday
 "Govt likely to cut bond sales aided by higher cash balance: Officials")
Wheels India shares zoom 19% on healthy Q4 results; up 23% in 5 sessions
The uptick came after the company posted a strong set of Q4 numbers. Wheels India's net profit soared 79 per cent on a year-on-year (Y-o-Y) basis to Rs 38.3 crore
 "Wheels India shares zoom 19% on healthy Q4 results; up 23% in 5 sessions")