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

SI Reporter New Delhi

stock market, brokers, growth, investors, investments, funds

9:21 AM

Index heatmap check

9:18 AM

Opening Bell: Sensex opens 0.25% lower at 73,822.34

9:17 AM

Opening bell: Nifty opens 0.10% lower

Nifty50 starts off the day on a lower note, down 0.10 per cent.

9:09 AM

Nifty down 0.43% at 22,404.55 levels in pre-open trade

9:08 AM

Sensex down 0.22% at 73,842.96 levels in pre-open trade

9:03 AM

Currency check :: Rupee opens little changed vs Friday's close of 83.34/$

9:00 AM

Staging a comeback: PSU stocks climb peaks, but valuation cliff awaits

Analysts attribute the rally in PSU stocks to investor expectations of a sharp rise in government capital expenditure (capex), resulting in a higher order book and increased revenues and profits for state-owned companies. READ MORE

8:56 AM

Jump in passive fund inflows in 2024 on new launches, EPFO boost

"A lot of new funds have come in on the passive side in recent months. We are seeing participation categories, be it market-cap, sector or factor-based funds. The interest is driven by strong performances and good experience in recent years," said Anand Varadarajan, Head - Institutional clients, Banking, Alternate investments and Product strategy, Tata AMC. READ MORE

8:53 AM

Sebi offers shield against M&A stock price disruptions

“The price protection framework is a welcome development. One of industry’s key concerns was the statutory linkage of the pricing of listed company deals with the pre-deal announcement traded price and the impact of rumour verification on the pricing of deals. While we await details of the framework for the calculation of unaffected price, this is a step in the right direction,” said Anchal Dhir, partner, Cyril Amarchand Mangaldas. READ MORE

8:50 AM

Ujjivan SFB board to decide universal bank transition timelines in FY25

The Reserve Bank of India (RBI) recently announced a set of norms outlining a glide path for small finance banks to voluntarily convert into universal banks. One of the eligibility criteria is a gross non-performing asset (NPA) ratio of less than 3 per cent and net NPA ratio of under 1 per cent for two straight years. Ujjivan SFB’s gross and net NPA ratios were 2.1 per cent and 0.3 per cent, respectively, in the year ended March 2024. For the previous year, these were 2.6 per cent and 0.4 per cent, respectively. READ MORE

8:47 AM

Big IPOs seen making a comeback in India after boom in smaller offerings

A flurry of small deals has made India one of Asia’s busiest IPO markets this year. Bigger share sales brighten the nation’s chances of attracting global funds as investors rotate money amid a patchy recovery in China. A mix of factors is behind the exuberance — stocks are scaling new heights, economic growth is solid and earnings are beating estimates. READ MORE

8:43 AM

Impact of Iranian President Raisi's death on oil, gold and stock market

The death of the Iranian president is likely to cause volatility in oil markets as investors gauge the potential impact on the country's oil production and exports. In early Asian trading on Monday, oil prices increased following the news of Raisi’s death. READ MORE