Share Market HIGHLIGHTS: Sensex ends volatile day 208 pts lower, Nifty cracks below 18,300; LIC up 1% ahead of Q4 results
Share Market HIGHLIGHTS: The equity market ended with over 0.30 per cent losses on May 24, Wednesday, amid selling in blue chip counters such as HDFC duo, ICICI Bank, and Reliance Industries. Besides, weak global cues, too, dented investor sentiment. Catch minute-by-minute updates of all the action in the Indian share market, market commentary, and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy, and trade recommendations only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: The equity market ended with over 0.30 per cent losses on May 24, Wednesday, amid selling in blue chip counters such as HDFC duo, ICICI Bank, and Reliance Industries. Besides, weak global cues, too, dented investor sentiment. As per a Reuters report, global stocks lurched downwards as US debt ceiling negotiations dragged on without resolution, stoking a general malaise in markets that saw safe-haven assets like the dollar and gold hold near recent highs.
The S&P BSE Sensex ended at 61,773.78, down 208 points, or 0.34 per cent while NSE's Nifty settled at 18,285.40, down 62.6 points, or 0.34 per cent.
Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
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Share Market HIGHLIGHTS: Sensex ends volatile day 208 pts lower, Nifty cracks below 18,300
Nifty 50
Nifty ends below 18,300 at 18,285.4, down by 0.34 per cent or 62.6 points.
Source: NSE
Sensex
Sensex ends 208 points lower at 61,773.78.
Source: BSE
Share Market HIGHLIGHTS | Adani Enterprises, Adani Ports, Tata Motors emerge as top losers; Sun Pharma, Dr Reddy's, ITC rise most in 50-scrip blue-chip basket
Adani Enterprises, Adani Ports, Tata Motors and HDFC Bank are among the top losers, down nearly 6-1 per cent. On the other hand, Sun Pharma, Dr Reddy's, ITC and IndusInd Bank are among the top gainers in the Nifty basket, trading with gains of around 2-1 per cent.
Source: NSE
Hindalco Industries reports 37% YoY drop in Q4 PAT; announces 300% dividend for FY23
Hindalco Industries Q4 results: Hindalco Industries on May 24, Wednesday, reported a 37 per cent year-on-year (YoY) drop in consolidated net profit or profit after tax (PAT) of Rs 2,411 crore. However, on a sequential basis, the profit jumped 77 per cent. Consolidated revenue stood at Rs 55,857 crore, which was unchanged on a YoY basis but was up 5 per cent sequentially, the company said in its earnings release. Read more
Nifty Today LIVE |HDFC twins, RIL, ICICI Bank among top draggers
HDFC twins, RIL, ICICI Bank and Kotak Bank are among the top draggers in both the Sensex and Nifty baskets at this hour. On the contrary, ITC, Sun Pharma Titan and Maruti Suzuki are the top movers.
Here's a look at the heatmap in the 50-scrip universe by weight:
Source: NSE
Share Market Today LIVE | India Cements slides deeper into the red as Q4 loss far exceeds analysts' estimates
India Cements shares drop nearly 3 per cent as Q4 loss far exceeds analysts' estimates. The stock quotes Rs 190.15, down by 2.81 per cent or Rs 5.50.
Source: NSE
Avanti Feeds Q4 result: Net profit rises 11% to Rs 93 crore
Avanti Feeds on May 24, 2023, reported a consolidated net profit of Rs 93.34 crore for the Q4FY23, up 10.65 per cent against Rs 84.35 crore logged in the year-ago period. Revenue from operations stood at Rs 1,093 crore, down 18 per cent against Rs 1,332 crore registered in the March 2022 quarter. Read more
HG Infra wins Rs 42.5-crore order from NTPC
HG Infra has bagged Rs 42.5-crore order from NTPC on Monday. HG Infra shares quote Rs 921.55 on NSE, down by 0.94 per cent or Rs 8.75.
Share Market Today LIVE | TVS Motor, L&T Finance, Ramco Cements, Poonawalla Fincorp hit 52-week highs
Here are some of the other stocks that also scaled 52-week peaks:
- Apollo Tyres
- Ceat
- Cholamandalam Financial
- ELGI Equipments
- Kajaria Ceramics
- Mahindra CIE
- Narayana Hrudayalaya
Engineers India shares rise as much as 7.5 per cent to a 52-week high of Rs 108.3 apiece on BSE
The stock holds on to much of its intraday gains in early afternoon deals trading in huge volumes, quoting 6.9 per cent higher at Rs 107.7 apiece on the bourse. As many as 23.7 lakh Engineers India shares have changed hands so far today, as against a daily average of 11.5 lakh over the past two weeks, according to provisional exchange data.
Source: NSE
Suzlon Energy bags order of 300 MW from Torrent Power
Suzlon Energy shares surges over 8 per cent after the company received an order from Torrent Power of 300 MW.
"This is to inform that Suzlon secures a major order of 300 MW from Torrent Power Limited, a Torrent Group Company. The press release in this regard is attached herewith," the company's regulatory filing reads.
Indiabulls Real Estate up 12%; remains in F&O ban
Indiabulls Real Estate shares on Monday zoom over 12 per cent. The stock quotes Rs 65, up by Rs 7.15 or 12.36 per cent on NSE. The stock continues to be restricted from the derivatives segments.
Source: NSE
Polyplex Corp down 8.5% on weak Q4 results, promoters selling stake
Polyplex Corp shares are down 8.5 per cent on Wednesday after the company posted weak seat of Q4 results.
Source: NSE
Polyplex Corp reported a decline of 11.6 per cent year-on-year (YoY) in its consolidated revenue to Rs 1,667.07 crore against Rs 1,885.87 crore logged in Q4FY2023. The company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) declined by 85.39 per cent to Rs 55.37 crore from Rs 379.03 registered in the year-ago period.
The company reported a 95.9 per cent fall in Profit after tax (PAT) to Rs 7.61 crore from Rs 185.78 crore a year ago. The company's margin — a key measure of profitability for a business — has dropped to 3.32% per cent from 20.09% per cent.
Promoter to sell 24.3 per cent stake to AGP Holdco ltd for 1,380 crore. Deal struck at approx Rs 1,810 (at 19.2 per cent premium). Zee Business Analyst Varun Dubey recommends buying the stock for a target of Rs 1,570 with a stop loss at Rs 1,510.
India's economic growth will be close to 6.5% in FY23-24 says RBI Governor Shaktikanta Das
India's economic growth in the current fiscal (FY23-24) will be close to 6.5 per cent, the Reserve Bank of India (RBI) Governor Shaktikanta Das said at the annual session of Confederation of Indian Industry (CII) on May 24, 2023. The governor further said that inflation has moderated but there is no room for complacency. Read more
Share Market Today LIVE | SBI Life, Tata Power, Balkrishna Industries, Jubilant FoodWorks among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Rakesh Bansal, Ambareesh Baliga, Vishvesh Chauhan and Sumeet Bagadia share their top recommendations for the day in this special segment, Pick of the Day. Read more
Share Market LIVE Updates: Dixon Tech shares in demand
Dixon Tech shares were in demand on Dalal Street on Wednesday, a day after the electronic goods maker reported a strong set of numbers for the quarter ended March 2023. Read More
Share Market LIVE Updates: Indices open in red
Share Market LIVE Updates: Traders’ Dairy
The Zee Business research team shares exclusive research on 20 stocks that investors and traders can track on Wednesday. Check out which stocks are on analysts Kushal Gupta and Varun Dubey's radar, and what they recommend in cash and derivative segments. Read More
Share Market LIVE Updates: Anil Singhvi Market Strategy
Zee Business Managing Editor Anil Singhvi expects strong support in the Nifty50 benchmark at 18,265-18,315 levels on Wednesday, May 24, and a strong buy zone at 18,150-18,215 levels. For the Nifty Bank, he sees support coming in at 43,675-43,800 levels and a strong buy zone at 43,450-43,525 levels.Read More
Share Market LIVE Updates: Stocks in focus
Hindalco Industries, Ashok Leyland, Kolte Patil Developers, SpiceJet, and others are key stocks to track during Wednesday’s session. They are in the focus today mainly due to their Q4 earnings or corporate action besides other triggers. Read More
Share Market LIVE Updates: Global Cues Update
The US stock markets slipped as talks on debt crisis face deadlock, Dow Jones fell 230 points, and Nasdaq too down by 160 points on Tuesday.
US President Biden, House Republican Speaker's meeting on the debt ceiling is worrying investors as they fear it may end without any conclusion.
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