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

Closing Bell on Tuesday, May 21, 2024: Equity benchmark indices traded listless on Tuesday and ended on a flat note. The S&P BSE Sensex ended at 73,953, down 53 points or 0.07 per cent, while the Nifty50 shut shop at 22,529, up 27 points or 0.12 per cent.

Meanwhile, the market capitalisation of all the companies listed on the BSE hit $5 trillion-mark intraday. The m-cap stood at $4.97 trillion (Rs 414 trillion) at close.

JSW Steel, Tata Steel, Power Grid, NTPC, SBI, Tech M, and Asian Paints lent support to the 30-stock index. Hindalco, Coal India, Adani Ports, Cipla, BPCL, Adani Enterprises, and BPCL were the other gainers on the 50-stock benchmark. All these shares gained in the range of 1 per cent and 5 per cent.

On the downside, Nestle India, Maruti Suzuki, ICICI Bank, InduInd Bank, Ultratech Cement, and HUL were the top laggards.

In the broader markets, the BSE MidCap index added 0.34 per cent, but the BSE SmallCap index fell 0.18 per cent.

Among sectors, the Nifty Metal index soared 3.7 per cent, followed by the Nifty PSU Bank index (1.5 per cent). The Nifty FMCG, and Private Bank indices, on the other hand, fell 0.4 per cent and 0.7 per cent, respectively.

 

3:48 PM

Tech View :: Nifty to consolidate until it breaches 22,600

The index remained within the range of 22,400 and 22,600. Strong put writing at 22,400 and 22,500 might provide support to the Nifty. On the higher end, a decisive move above 22,600 might induce a rally towards 22,800 in the near term. Till then the index might continue consolidating as long as it remains within the range of 22,400 to 22,600.

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

3:45 PM

ALERT :: M-cap of all BSE listed firms its $5 trillion-mark intraday

>> It ended at $4.97 trillion or Rs 4.14 trillion.

3:41 PM

Broader markets :: SmallCap index underperforms peers

3:40 PM

Sectoral trends :: Metal, PSBs, Media stocks were in demand on May 21

3:38 PM

Sensex Heatmap :: Metal, power stocks help benchmark trim losses

3:37 PM

Closing Bell :: Nifty holds 22,500

3:36 PM

Closing Bell :: Sensex ends mildly lower amid selling in pvt banks, FMCG stocks

3:28 PM

M&M Finance appoints Mahesh Rajaraman as CRO, to replace Mallika Mittal

The Non-banking Finance Company (NBFC) said in the interim period that Gaurav Verma, Head Underwriting & Product Policy, would exclusively oversee the risk management function and would be responsible for the responsibilities under the role of CRO until Rajaraman joins as the CRO. READ MORE

3:18 PM

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 Q4FY23, showing a 8-14 per cent Y-o-Y jump in its topline, registering revenues in the range of Rs 11,858 crore and Rs 12,472 crore, according to brokerage estimates. The company recorded a revenue of Rs 10,930 crore in the Q4FY23. READ MORE

3:05 PM

CPSE stocks on a roll; RVNL, Hudco, SJVN, Cochin Shipyard surge up to 15%

At 02:08 PM, the CPSE index, the top gainer among broader indices, was up 2.5 per cent as compared to 0.06 per cent rise in the S&P BSE Sensex. In the past one month, the index has rallied 12.6 per cent as against less than 1 per cent gain in the benchmark index. Further, in the past six months, the CPSE index has zoomed 68 per cent, as compared to the 12.3 per cent rise in the Sensex. READ MORE

2:50 PM

ALERT :: Update on Centre's borrowing plans

2:40 PM

Shriram Properties inks JV for housing project; eyes over Rs 250 cr revenue

"The proposed project will comprise of 270 apartments with an aggregate saleable area of 3.8 lakh square feet. The project has aggregate revenue potential of over Rs 250 crore and is expected to be developed over the next 3 years," Shriram Properties said. READ MORE

2:26 PM

India's Q4 GDP growth projected at 6.7%, FY24 growth at 7.8%, says ICRA

ICRA Chief Economist, Head-Research & Outreach Aditi Nayar said the lower volume growth coupled with diminishing gains from commodity prices dampening the profitability of some of the industrial sectors is expected to dampen India's GVA growth in Q4 FY2024. READ MORE

2:13 PM

March Quarter Results :: RateGain Tech posts profit of Rs 50 cr vs Rs 34 cr YoY

>> Ebitda at Rs 54.2 cr vs Rs 33.2 cr YoY

>> Ebitda margin at 21.21% vs 17.61% YoY

1:55 PM

ALERT :: Nibe freezes at 5% upper circuit on agreement with Vehicles Research & Development Establishment

>> The company has entered into a Licensing Agreement with Vehicles Research & Development Establishment (VRDE), Ahmednagar, Defence Research & Development Organisation (DRDO), Ministry of Defence, Government of India for Transfer of Technology to manufacture and sell Anti-Terrorist Vehicle (ATV) in India to Indian Armed Forces/Other Govt. Agencies (Central and State).