Stock Market Highlights, May 17: Sensex up 253 pts, Nifty tops 22,450; broader indices outperform

Stock markethighlights on May 17, 2024: M&M, JSW Steel, Ultratech Cement, Kotak Bank, ITC, Maruti Suzuki, NTPC, and Tata Motors were the top gainers on the Sensex

3:49 PM

Tech View :: 'Nifty Bank will see short-covering rally if it surpasses 48,200'

The Bank Nifty index managed to close above the level of 48,000 but was unable to surpass the 20-DMA, which is placed at 48,200. A break above the 20-DMA will lead to further upside towards 49,000, with short covering likely to come into play. The lower-end support is placed at the 47,600-47,500 levels, and as long as the index sustains above this level, the view remains bullish.

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

3:46 PM

Tech View :: 'Nifty needs to break 22,500 decisively for bullish trend'

The Nifty index continued its ongoing momentum but failed to surpass the 22,500 mark, where the highest open interest is built up on the call side. For the index to achieve its all-time high level in the near term, it needs to break this level decisively. The downside support is placed at 22,300, and dips towards this support level should be seen as an ideal opportunity to initiate long positions.

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

3:45 PM

Comment :: What all happened in the markets today?

Despite mixed global signals and uncertainties surrounding the US Fed, the Indian market experienced a robust recovery, largely fuelled by the outperformance of the broader market and positive Q4 earnings. Further, some index heavyweight earnings surpassed expectations, and midcap and small-cap stocks continued to exhibit buying interest during dips. Auto and consumer durables particularly stood out with strong earnings momentum

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

3:41 PM

Currency check :: Rupee strengthens 16 paise vs US dollar

3:39 PM

Broder markets :: VIX cools off, Nifty SmallCap index surges 1.6%

>> Nifty MidCap hits record high intraday

3:37 PM

Sensex Heatmap :: M&M ends as top gainer for 2nd day, IT stocks sag

3:36 PM

Closing Bell :: Nifty holds 22,450

3:35 PM

Closing Bell :: Sensex ends range-bound session over 250 points higher

3:27 PM

Gifting shares? Bombay HC ruling clarifies capital gains tax treatment

For capital gains tax to apply, there must be a transfer of a capital asset resulting in a profit or gain. Since a gift involves no exchange of money, there's no profit to be taxed. READ MORE

3:15 PM

ALERT :: Delhi HC quashes order upholding arbitral award in favour of Kalanithi Maran, says report

3:00 PM

GSK Pharma Q4 results: Net profit up 46% at Rs 194.48 cr on higher sales

Consolidated revenue from operations in the quarter under review stood at Rs 929.8 crore as against Rs 787.45 crore in the year-ago period, it added. READ MORE

2:47 PM

GPT Infraprojects hits 52-week high on strong Q4 results

GPT Infraprojects Q4 net profit rises 55.8% to Rs 16.2 crore while its revenue surges a little over 10% to Rs 295 crore.

 

2:34 PM

Container volume likely to grow 8% to 342 million tonnes in FY25: Report

Container volume is expected to grow by 8 per cent to 342 million tonnes this fiscal despite the risk of a prolonged Red Sea crisis, CareEdge Ratings said on Thursday. READ MORE

2:30 PM

Go Digit Subscription Status, Day 3: IPO subscribed 6x, QIBs steal the show

The initial public offer (IPO) of Go Digit Insurance will open for the third, and final day, today, May 17, 2024. The offer, which opened on Wednesday, May 15, was subscribed 79 per cent at the end of Day 2. READ MORE

2:28 PM

LT Foods announces Q4 results

LT Foods Q4 net profit rises over 15% Y-o-Y to Rs 148.8 crore. Its revenue soars 14% to Rs 2,074 crore.