Stock Market Highlights, May 14: Sensex rises for 3rd day, gains 328 pts; Nifty tops 22,200

Stock market highlights on May 14: The broader markets, meanwhile, outperformed the frontline indices as the BSE MidCap added 1.14 per cent, and the BSE SmallCap rose 1.8 per cent

Closing Bell on May 14, 2024: Equity markets rose for a third day on Tuesday, driven by auto, metal, and banking shares. The S&P BSE Sensex closed 328 points, or 0.45 per cent, higher at 73,105 levels, while the Nifty50 ended at 22,218, with gains of 114 points or 0.51 per cent.

M&M, L&T, JSW Steel, Sun Pharma, NTPC, Ultratech Cement, Maruti Suzuki, Reliance Industries, IndusInd Bank, SBI, Titan, and Tech M gained between 1 per cent and 4 per cent.

The broader markets, meanwhile, outperformed the frontline indices as the BSE MidCap added 1.14 per cent, and the BSE SmallCap rose 1.8 per cent.

 

3:52 PM

Comment :: 'Volatile, range-bound trade to persist in near-term'

The domestic market has sustained its recovery path from recent lows, aided by a moderation in India’s CPI and favourable signals from its Asian peers. However, investors are cautious ahead of the upcoming US CPI data, which is anticipated to show a slight increase from the previous month and could raise concerns about rate cut expectations. Volatility and range-bound trading are likely to persist in the near term, given the ongoing uncertainty surrounding the low turnout.

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

3:50 PM

Tech View :: Nifty may hit 22,600 if it surpasses this level

The bulls propelled the index higher following a positive trading session. However, the index closed just below the lower band of the rising channel. The Nifty managed to close above the crucial level of 22,200; nonetheless, it needs to return within the channel to sustain momentum in the upcoming days.

In the near term, a decisive move above 22,250 could propel the index towards the higher level of 22,600 in the short term. Conversely, a failure to maintain levels above 22,200 might trigger selling pressure in the market.

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

3:49 PM

Tech View :: Nifty Bank fails to surpass resistance of 48,000.. again!

The BankNifty witnessed a consolidated move throughout the session but failed to close above the resistance of 48,000. To sustain the upward momentum, the index needs to decisively surpass this mark, targeting the 48,500 level. On the downside, support is situated at the 47,500-47,400 zone, presenting an ideal opportunity to initiate long positions in case of a dip towards this level.


Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

 

3:46 PM

Currency check :: Rupee ends 2 paise higher

3:45 PM

Broader markets :: SmallCap index adds roughly 2%

3:43 PM

Sectoral trends :: Metal index gains nearly 3%, Auto 2%

3:40 PM

Sensex Heatmap :: M&M, L&T, JSW Steel lead today's rally

3:37 PM

Closing Bell :: Nifty reclaims 22,200

3:34 PM

Closing Bell :: Sensex rises 300 pts, ends near day's high

3:28 PM

Adani group stocks in focus; Power, Enterprises, Total Gas rally up to 8%

Adani Enterprises, the group's flagship firm, having interests spanning from new energy to airports and data centres, plans to spend Rs 80,000 crore across businesses in the current financial year, PTI reported on Sunday quoting a senior company executive READ MORE

3:15 PM

Snack maker Haldiram's eyed by foreign investors like Blackstone, ADIA

From fried Indian snacks to local sweet delicacies, family-run Indian snack maker Haldiram's has long been one of the country's most popular food brands. Now, foreign investors like Blackstone and Abu Dhabi Investment Authority want a big bite of it  READ MORE

3:01 PM

ALERT:: Bajaj Electricals Q4 net dips 44%; stock down 3%

Bajaj Electricals Q4 net dipped 43.6 per cent to Rs 29.31 crore in Q4FY24 when compared with Rs 51.98 crore in Q4FY23. Total income declined 7.8 per cent YoY to Rs 1,210.54 crore from Rs 1,312.61 crore. 

2:50 PM

Return of debt funds, preference for hybrid funds: MF trends in April 2024

In March, a lot of money (Rs 1.98 trillion) flowed out of the "debt fund" buckets, which hold investments in bonds and similar things. But in April, a massive amount of money (Rs 1.90 trillion) flowed back into debt funds, almost refilling those buckets. This was especially true for "liquid funds" which are like easily accessible savings accounts within debt funds. READ MORE

2:37 PM

ALERT:: Apar Industries Q4 dips 3%; stock up 3%

Apar Industries today reported a 2.7 per cent dip in Q4 consolidated net at Rs 236.22 crore for the quarter ended March 2024 as against Rs 242.73 crore in the year ago period. Total income was up 9.6 per cent YoY at Rs 4,487.92 crore from Rs 4,095.01  crore. 

2:24 PM

Vedanta hits 14-year high on fund raising plan; zooms 75% in 2 months

The recent surge in commodity prices, particularly aluminum, zinc and silver, the company said it is going to unlock tremendous value. READ MORE