Stock Market Highlights, May 22: Sensex up 268pts, Nifty near 22600; Awfis Space IPO subscribed 1.5x

Stock Market Highlights on Wednesday, May 22, 2024: M-cap of all BSE listed companies settled at Rs 416 trillion or $5 trillion today

3:50 PM

Tech View :: 'Nifty trend to stay positive till it holds 22,500'

Nifty continues to trend bullishly, finding support at 22,500. The index has been moving higher within a rising channel. The trend is likely to remain strong as long as it stays above 22,500. On the higher end, the index might move towards 22,800 in the short term, with immediate support at 22600. A dip below 22600 might briefly take the index towards 22500.

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

3:49 PM

Tech View :: ' Break above 48,276 will lead to sharp short-covering in Nifty Bank'

The Bank Nifty index witnessed a volatile trading session on the weekly expiry day. The index is still trading below its 20DMA, which is placed at 48,276. A break above this level will lead to sharp short-covering moves towards the 49,000 mark.

Currently, the index is stuck in a broad range between 47,500 and 48,300. A break on either side will result in trending moves. However, within this range, the view remains bullish, and dips should be utilized to buy the index

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

3:48 PM

Comment :: 'Markets ended higher despite caution among global peers'

Despite mixed global market sentiments ahead of the US FED minutes, Indian markets exhibited a subtle positive trend. Investors are optimistic about stable Q4 earnings and easing election jitters that had previously increased volatility.

Interest in the FMCG sector has risen due to the potential for an early onset of monsoon. Nevertheless, markets may underperform in the short term as they wait for the election outcome, with FIIs staying on the sidelines 

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

 

3:46 PM

Currency check :: Rupee ends 3 paise weaker

3:43 PM

IPO Update :: Awfis Space issue sails through in Day 1

3:41 PM

Broader markets :: MidCap index slips marginally, SmallCap up 0.2%

3:40 PM

Sensex Heatmap :: RIL, HUL lift index; SBI caps gains

3:38 PM

Closing Bell :: Nifty ends near 22,600

3:36 PM

Closing Bell :: Sensex gains over 250 pts after trading range-bound

3:26 PM

March Quarter Results :: Sun Pharma reports net profit of Rs 2,654.5 crore

>> Margin at 25.3% 

 

>> Other income at Rs 606 crore
 

3:09 PM

DB Corp Q4 results: Net profit rises nearly three-fold to Rs 122.52 cr

"On a quarterly basis, Q4 FY24 saw broad-based growth for the 11th quarter in a row with 24.6 per cent growth in advertisement revenue to Rs 445.7 crore; EBITDA margin expanded by 1500 bps to reach Rs 196.7 crore (31 per cent margin) with 121.2 per cent year-on-year (YOY) growth and PAT saw 198.6 YOY growth to Rs 122.5 crore," said an earning statement from DB Corp. READ MORE

2:50 PM

India, China have agreed to cooperate in paying in local currency: Maldives

The Maldives on Wednesday said both India and China have agreed to cooperate in efforts to pay for imports in their respective countries' currency instead of the US dollar, which is likely to help Male save almost 50 per cent of the annual $ 1.5 million imports bill from the two countries.

Maldives' Economic Development Minister Mohamed Saeed said he met with the Indian High Commissioner Munu Mahawar two weeks ago, who in turn, said that New Delhi would support and cooperate in arranging for the settlement of import payments in Indian Rupee. Read more

2:45 PM

Nifty FMCG soars 1.37%

2:34 PM

Ixigo's parent firm, Bansal Wire Industries get Sebi's nod to float IPO

Le Travenues Technology Ltd, which operates the travel booking platform ixigo, and steel wire manufacturer Bansal Wire Industries have received Sebi's go-ahead to raise funds through Initial Public Offering (IPOs), an update with the markets regulator showed on Wednesday.

The two companies, which filed their preliminary IPO papers with Sebi in February and March, obtained their observations during May 14-17. Read more

2:16 PM

Strides Pharma soars 7% on strong Q4 performance

Strides Pharma showcased a stellar Q4 financials, with net profit reaching Rs 18.2 crore compared to a loss of Rs 9.5 crore year-on-year. Revenue saw a healthy 10 per cent growth, amounting to Rs 1,084 crore versus Rs 986.3 crore in the previous year.