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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

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			<strong>Closing Bell on Tuesday, May 21, 2024: </strong>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.<br />
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			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.</div>
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			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.</div>
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			On the downside, Nestle India, Maruti Suzuki, ICICI Bank, InduInd Bank, Ultratech Cement, and HUL were the top laggards.</div>
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			In the broader markets, the BSE MidCap index added 0.34 per cent, but the BSE SmallCap index fell 0.18 per cent.</div>
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			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.</div>
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Stock Market Highlights, May 21: Market-cap of BSE-listed firms hits $5 trillion mark

Business Standard

Stock Market Highlights, May 21: Market-cap of BSE-listed firms hits $5 trillion mark | News on Markets - Business Standard

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Track all the latest markets-related updates here.

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

&gt;&gt; It ended at $4.97 trillion or Rs 4.14 trillion.<br />
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Broader markets :: SmallCap index underperforms peers

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

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

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

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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.&nbsp;<a href="https://www.business-standard.com/markets/news/sun-pharma-q4-preview-profits-may-grow-up-to-41-on-higher-specialty-sales-124052100713_1.html?1716284766" target="_blank"><strong>READ MORE</strong></a><br />
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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&amp;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. <a href="https://www.business-standard.com/markets/news/cpse-stocks-on-roll-rvnl-hudco-sjvn-cochin-shipyard-surge-up-to-15-124052100702_1.html?1716284017" target="_blank"><strong>READ MORE</strong></a><br />
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Nifty Metal index hits record high on May 21; what's fuelling the rally?

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	The Nifty Metal index surged 3.45 per cent on Tuesday, to hit a record high of 9,944.65 points. By comparison, the Nifty50 index saw a modest increase of 0.16 per cent, and was trading at 22,537.85 points, at 12:35 PM.</div>
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	The surge in the metal index, analysts believe, is largely credited to Vedanta&#39;s robust Q4 performance and its first interim dividend declaration of Rs 11 for FY25, which has considerably bolstered the index on its own. <a href="https://www.business-standard.com/markets/news/nifty-metal-index-hits-record-high-on-may-21-what-s-fuelling-the-rally-124052100509_1.html" target="_blank"><strong>Read more</strong></a><br />
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PE exits in India surge 355% in first quarter of 2024, hit 50 deals: report

Private equity (PE) exits in India witnessed a phenomenal surge in Q1 2024, marking a significant shift in the investment landscape. The quarter saw a staggering 354.5 per cent increase in PE exits compared to Q1 2023. This translates to a jump from just 11 exits in the previous year&#39;s first quarter to a robust 50 exits in Q1 2024,&nbsp; according a report by Mazars&nbsp; in India, a global audit, tax, and advisory services firm. <a href="https://www.business-standard.com/finance/personal-finance/pe-exits-in-india-surge-355-in-first-quarter-of-2024-hit-50-deals-report-124052100479_1.html" target="_blank"><strong>Read more</strong></a><br />
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This stock has zoomed 1172% against IPO price in 5 yrs; m-cap hits Rs 1 trn

Polycab India joined the elite club of companies having market capitalisation (market cap) of Rs 1 trillion, as the stock price of the wires and cables (W&amp;C) maker hit a new high of Rs 6,843.80, rallying 5 per cent on the BSE in Tuesday&rsquo;s intra-day trade.<strong> <a href="https://www.business-standard.com/markets/news/this-stock-has-zoomed-1172-against-ipo-price-in-5-yrs-m-cap-hits-rs-1-trn-124052100469_1.html?1716276027" target="_blank">Read more</a></strong>

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Nifty Metal soars over 3%, hits record high

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Vedanta nears record high on improved outlook; zooms 94% from March low

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	Shares of Vedanta hit a fresh 14-year high of Rs 483.75, surging 5.5 per cent on the BSE in Tuesday&rsquo;s intra-day trade on improved outlook. The stock is trading close to its record high of Rs 494.30 touched on April 8, 2010.</div>
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	In past three trading days, it rallied 12 per cent after the company on May 16, declared first interim dividend of Rs 11 per equity share on face value of Re 1 per equity share for the financial year 2024-25. The company has fixed May 25, 2024 as the record date for the purpose of payment of dividend. <a href="https://www.business-standard.com/markets/news/vedanta-nears-record-high-on-improved-outlook-zooms-94-from-march-low-124052100356_1.html" target="_blank"><strong>Read more</strong></a></div>

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Wheels India shares zoom 19% on healthy Q4 results; up 23% in 5 sessions

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	Shares of Wheels India zoomed as much as 18.93 per cent to hit an intraday high of Rs 700 per share on Tuesday.&nbsp;</div>
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	The uptick came after the company posted a strong set of Q4 numbers. Wheels India&rsquo;s net profit soared 79 per cent on a year-on-year (Y-o-Y) basis to Rs 38.3 crore, as opposed to Rs 21.4 crore in the same quarter a year ago (Q4FY23). <a href="https://business-standard.com/markets/news/wheels-india-shares-zoom-19-on-healthy-q4-results-up-23-in-5-sessions-124052100338_1.html" target="_blank"><strong>Read more</strong></a></div>

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Coforge announces launch of Copilot Innovation Hub

Coforge announces the launch of Copilot Innovation Hub in collaboration with Microsoft to accelerate enterprise adoption of Generative AI&nbsp;

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

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

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

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

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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. <a href="https://www.business-standard.com/markets/news/staging-a-comeback-psu-stocks-climb-peaks-but-valuation-cliff-awaits-124052001127_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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&gt;&gt; At 8:32 AM, GIFT Nifty was up 43 points at 22,587.

Can global Big Tech companies afford to ignore the Indian market?

The ex-ante provision means the Competition Commission of India (CCI) can intervene before anyone indulges in anticompetitive practices. This would be a contrast from the current framework, in which the CCI scrutinises or acts against anticompetitive practices after they have occurred. Numerous such disputes are already pending before the courts.&nbsp;<a href="https://www.business-standard.com/industry/news/can-global-big-tech-companies-afford-to-ignore-the-indian-market-124052001479_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Stocks to watch on May 21: Oil India, India Cements, Signature Global

Locally, investors will be closely monitoring key earnings releases from major companies such as BHEL, Metropolis Healthcare, and Aether Industries. Additionally, today&#39;s earnings lineup includes reports from Eris Lifesciences, GPT Healthcare, Greenply Industries, GSFC, IRCON International, JK Tyre &amp; Industries, Laxmi Organic Industries, PI Industries, Ramco Systems, RateGain Travel Technologies, Religare Enterprises, Va Tech Wabag, and Welspun Enterprises. <a href="https://www.business-standard.com/markets/news/stocks-to-watch-on-may-21-oil-india-india-cements-signature-global-124052100073_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Nifty levels, Q4 result, IPOs: Things to know before Opening Bell on May 21

&quot;Investors are expressing optimism regarding potential interest rate cuts in 2024, supported by favourable US consumer inflation data and improved jobless claims figures. However, uncertainties persist regarding the timing of the US Fed rate adjustments. The release of the PMI data for May, from both the US and India, this week will be closely monitored for further market insights,&quot; said Vinod Nair, head of research at Geojit Financial Services. <a href="https://www.business-standard.com/markets/news/nifty-levels-q4-result-ipos-things-to-know-before-opening-bell-on-may-21-124052100063_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Buy and Sell ideas: Top technical picks by ICICI Securities for May 21

Technical view: Reliance Industries, proxy of Oil &amp; Gas and Telecom, both outperforming sectors, has been in structural uptrend since its early CY24 breakout from 28-month consolidation. Current mean reversion to its 100-days ema offers fresh entry opportunity <a href="https://www.business-standard.com/markets/news/buy-and-sell-ideas-top-technical-picks-by-icici-securities-for-may-21-124052100054_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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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

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