Stock Market Highlights, May 2: Sensex ends range-bound session 128 pts up, Nifty near 22,650

Stock Market Highlights on Thursday, May 2: Markets settled with positive bias a day after the US Fed kept interest rates unchanged

Closing Bell on May 2, 2024: Benchmark indices ended a range-bound session with a positive bias on Thursday, a dy after the US Federal Reserve kept key interest rates unchanged at 5.5 per cent.

The S&P BSE Sensex closed at 74,611, up 128 points or 0.17 per cent, while the Nifty50 ended at 22,648, up 43 points or 0.19 per cent.

In the broader markets, the BSE MidCap and SmallCap indices closed 0.9 per cent and 0.0.29 per cent, respectively.

On the BSE, Power Grid, Asian Paints were the top gainers while Bharti Airtel, Kotak Mahindra Bank were among the major laggards.

Similarly, on the NSE, BPCL, Power Grid were the top gainers while Kotak Mahindra Bank, Tata Consumer were among the top losers.

Sectorally, the Nifty Metal and Auto led with 1.3 per cent gains each, followed by Oil and Gas (up 0.83 per cent).

3:51 PM

Tech View :: Key levels to watch on Nifty, Bank Nifty

Nifty50
On the daily charts, we can observe that the Nifty after the sell in the previous trading session has consolidated. 22,700 on the upside remains a crucial resistance while 22,450 is the crucial support from short term perspective. The Nifty is likely to consolidate within this range over the next few trading sessions. 

 

Bank Nifty

The Bank Nifty witnessed follow through selling pressure and closed in the red down ~166 points. Overall, the Bank Nifty can also consolidate. Key support on the downside is 49,000 – 48,900 while resistance is placed at 49,800 – 49,850. Overall, we expect some consolidation in both the indices.

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

 

 

3:48 PM

Comment :: What all happened in the markets today?

Benchmark indices saw moderate gains, mirroring global trends after the FED decided to maintain its interest rate, as widely accepted. The US central bank hinted at potential rate cuts while remaining cautious about sustaining the high inflation trend. The broader market largely traded range bound, while positive commentary from the auto companies on recent volume numbers led the sector to outperform.

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

3:45 PM

Broader markets :: MidCap index gains nearly 1%

3:42 PM

Sector check :: Auto, Metal indices rise 1%

3:39 PM

Sensex Heatmap :: 12 of 30 stocks decline; Airtel, Wipro, Axis Bank weigh

3:37 PM

CLOSING BELL :: Nifty ends near 22,650

3:37 PM

CLOSING BELL :: Sensex ends higher after US Fed keeps rates unchanged

3:30 PM

Why is gold up 20% in the last one year, and what should investors do?

While the yellow metal has shown promising short-term performance, with a return of about 20 per cent over the past year, its long-term returns are less impressive. Over a decade, gold has returned around 8 per cent, a figure that pales in comparison to other asset classes such as equities (Sensex), which has returned over 12 per cent in the same period. READ MORE

3:16 PM

South Indian Bank Q4 results: Net profit dips 14% to Rs 288 crore

The bank's board has recommended a dividend of Rs.0.30 per equity shares of face value of Re 1 each (30 per cent) for the financial year ended March 31, 2024 READ MORE

3:01 PM

ALERT:: Adani Enterprises Q4 net dips 22%; stock slips into red

Adani Enterprises today reported 22 per cent drop in Q4 consolidated net at Rs 623.20 crore for the quarter ended March 2024 when compared with Rs 799.26 crore posted in the quarter ended March 2023. Total income, however, was up 1.1 per cent YoY at Rs 29,630.29 crore as against Rs 29,311.42 crore. 

2:51 PM

Analysts recommend buying these 3 finance stocks, see up to 25% upside

The earnings season is in full swing and so are the financial services stocks, on an index level Nifty Financial Services has shot up by 3 per cent in the last one month, while in comparison Nifty 50 rose by 0.90 per cent till Thursday's intraday deals. READ MORE

2:41 PM

Iron & steel stocks rally up to 11% on strong March quarter results

Surya Roshni, Gallantt Ispat, Sarda Energy & Minerals, Welspun Corp and Vardhman Special Steels (VSSL) have surged between 5 per cent and 11 per cent in Thursday's intra-day trade. READ MORE

2:32 PM

Travel distribution firm TBO Tek eyes Rs 1K cr via IPO; issue to open May 8

The company's maiden public issue comprises a fresh issue of equity shares aggregating up to Rs 400 crore and an Offer-for-Sale (0FS) of up to 1.25 crore equity shares by promoters and investors. READ MORE

2:22 PM

ALERT:: Dabur India Q4 net rises 17%; stock up 1%

2:13 PM

Global check:: US stock futures up day after Fed outcome; UK mixed