Stock Market Highlights, May 27: Sensex, Nifty slip into red in fag-end; metal, auto stocks weigh

Stock Market Highlights on May 27, 2024: Among sectors, the Nifty PSU Bank index gained over 1 per cent, and the Nifty Bank 0.6 per cent

Closing Bell on Monday, May 27, 2024: Benchmark S&P BSE Sensex, and the Nifty50 hit fresh record highs for a third straight day on Monday in intraday trade. The BSE Sensex index hit a new lifetime high of 76,010, before cooling off to end at 75,391, down 20 points or 0.03 per cent, amid weakness in metal, and auto shares.

The Nifty50, on the other hand, touched a new summit of 23,111, before settling at 22,932, down 25 points or 0.11 per cent.

In the broader markets, the BSE MidCap index hit a new all-time high of 43,985 intraday, but ended at 43,784, up 0.63 per cent.

The BSE SmallCap index, however, stayed tepid through the day and failed to notch a new high. It closed 0.09 per cent lower.

Among sectors, the Nifty PSU Bank index gained over 1 per cent, the Nifty Bank 0.6 per cent, and the Nifty Realty 0.85 per cent.

IPO update :: Awfis Space Solutions

The Rs 599-crore initial public offer of Awfis Space Solutions was subscribed 102 times till 3:30 PM on the final day of bidding.

3:56 PM

Tech View :: Key levels to watch on Nifty50

Nifty remained mostly volatile during the day as India awaits the final phase of the general election. The near-term outlook remains positive, with the index staying above the crucial moving averages. Support lies at 22,900, below which the index might slip towards 22,800. On the higher end, bears are active around 23,000-23,050. A decisive move above 23,050 might trigger a stronger rally towards higher levels."

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

3:53 PM

Comment :: What all happened in the markets today?

The bulls are facing stiff resistance at 23,000 levels as investors start booking profit at higher levels to avoid any knee jerk reaction in the market ahead of the election result. Better earnings growth, the expectation of a revival in private capex, and a moderation in FIIs selling intensity are the key positive triggers in the market. The release of India's Q4 GDP and US inflation figures this week will also influence investors to get a direction in the near term.

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

3:47 PM

Currency check :: Rupee ends at 83.13/$ against Friday’s close of 83.10/$

3:43 PM

Sectoral trends :: Index end mixed; PSVs rally, Metals slip

3:40 PM

Sensex Heatmap :: Wipro, ITC, Sun Pharma weigh on index

3:37 PM

Closing Bell :: Nifty fails to hold 23,000

3:33 PM

Closing Bell :: Sensex erases all gains, ends 20 points lower

3:28 PM

Hyundai Motor adds Kotak, Morgan Stanley for possible record India IPO

The banks join Citigroup Inc., HSBC Holdings Plc and JPMorgan Chase & Co. as advisers on the IPO, which Bloomberg News has reported could raise about $2.5 billion for India’s second-biggest carmaker. READ MORE

3:15 PM

PSBs extend rally on RBI's bonanza to central Govt; IOB, PSB rally upto 10%

Indian Overseas Bank (IOB), Uco Bank, and Punjab and Sind Bank rallied between 5 per cent and 10 per cent on the National Stock Exchange (NSE) in Monday's intraday trade. Central Bank of India, Bank of Maharashtra, Punjab National Bank, Union Bank of India, and Indian Bank, on the other hand, were up in the range of 2 per cent to 4 per cent. READ MORE

3:03 PM

Sustained fiscal deficit reduction positive for India's ratings, says Fitch

Last week, the board of India's central bank approved a record surplus transfer of Rs 2.11 trn ($25.40 billion) to the government for fiscal 2024, sharply above analysts' and government projections. READ MORE

2:52 PM

ALERT:: West Coast Paper Mills Q4 net dips 59%; stock slips 4%

West Coast Paper Mills today reported a 59.4 per cent dip in Q4 consolidated net at Rs 130.43 crore for the quarter ended March 2024 when compared with Rs 320.96 crore in the corresponding quarter a year ago. Total income dipped 18.4 per cent YoY to Rs 1,128.62 crore from Rs 1,383.17 crore.

2:41 PM

Astra Microwave sprints 14%, hits record high on highest-ever profit in Q4

Astra Microwave share price: Astra Microwave Products share price soared 14.25 per cent to hit a fresh record high of Rs 914 apiece on the BSE in Monday's intraday trade after the defence and aerospace company reported over four-fold jump in net profit during the March quarter of FY24 (Q4FY24). READ MORE

2:29 PM

Karnataka Bank slips 3% on weak Q4 margins; Rs 5.50 dividend announced

The bank's net interest income (NII), which is the difference between interest earned and interest expended, fell 3 per cent to Rs 834 crore in Q4FY24, from Rs 860 crore in Q4FY23. READ MORE

2:18 PM

Modi govt reshaped, transformed Budget in last decade: FM Sitharaman

The minister asserted that the government would continue to maximise the value of taxpayers' money by putting it to the best possible use. READ MORE

2:06 PM

RVNL stock price zooms 8% on bagging Nagpur Metro project worth Rs 187 cr

The total time for execution of the project is 30 months with an overall project value of Rs 187.3 crore, RVNL said in an exchange filing on Friday. READ MORE