Stock Market Special Session Highlights: Sensex, Nifty end flat; Small, MidCap indices gain up to 1%

Stock Market Special Trading Session, Saturday, May 18, 2024: In the broader markets, the BSE MidCap, and the BSE SmallCap indices gained 0.48 per cent and 0.76 per cent, respectively

8:35 AM

FPI selling tops $3.5 billion amid Lok Sabha poll jitters, flows to China

Traders are getting increasingly anxious about the incumbent National Democratic Alliance regime’s margin of victory in the ongoing Lok Sabha elections and its impact on policy continuity. India Vix, a gauge of market volatility, rose to 20.6 this month.
 

Since the beginning of the elections, it has gained 47 per cent. “There could be modest knee-jerk weakness in forex and risk assets if the Bharatiya Janata Party (BJP) loses some seats and maintains a majority,” wrote MUFJ in a note. READ MORE

8:29 AM

Bajaj Finserv MF adds to variety in multi-asset allocation category

Chandan said that currently, one could create a good portfolio with an average dividend yield of 1.5-1.8 per cent. The scheme will invest 20-25 per cent in fixed-income instruments and 10-12 per cent in gold. READ MORE

8:22 AM

Trent, Bharat Electronics poised as contenders for Nifty50 in September

If added, both stocks could receive passive inflows in excess of Rs 3,000 crore, as per an analysis by Nuvama Alternative & Quantitative Research. Meanwhile, LTI Mindtree and Divi’s Labs are seen as exclusion candidates. If deleted, both stocks could see outflows of over Rs 1,500 crore from passive funds tracking the Nifty50 index. READ MORE

8:16 AM

Go Digit IPO: Issue subscribed over 9.6 times on final day, QIBs bet big

Following the IPO, the promoter stake in the company will reduce to 75 per cent from the current 83 per cent. The promoter group includes Fairfax, GoDigit Infoworks, Kamlesh Goyal, and Oben Ventures. The issue’s price band was set at Rs 258 to Rs 272 per equity share. READ MORE

8:10 AM

Stock market volatility: It is a good time to rebalance equity portfolio

The decline in equity flows reflects investors' nervousness ahead of the Lok Sabha 2024 elections amid high index levels. This could be addressed once the election outcome is known, or if the index corrects itself. Additionally, if the corporate earnings of the Nifty 50 index start to accelerate, investors will become more comfortable with the high index levels. READ MORE

8:04 AM

Stocks to Watch, May 18: Vodafone Idea, ZEE, Delhivery, Sobha, Zydus Life

Vodafone Idea (Vi): The company  disclosed its strategic initiatives during a conference call post Q4 earnings. The company is directing capital expenditure towards enhancing its 4G service coverage, aiming to expand its subscriber base. Additionally, Vi has fulfilled its minimum rollout obligations for 5G. Vi's management stressed upon its robust digital roadmap, which the company has diligently executed, positioning the company for future growth and competitiveness. READ MORE

7:59 AM

Dow tops 40K, Gift Nifty at 22,550: What will move stock markets on May 18?

Foreign portfolio investors (FPI) have pulled out $3.5 billion in Indian equity markets so far this month. The selling has come on the back of election uncertainty and rotation of flows out of India and into China, where stocks are available at half the valuations. If the selling pressure remains at current levels, this will be the worst FPI pullout since January 2023. READ MORE

7:51 AM

Shriram Fin, JublFood, Titan; top picks from Anand Rathi for May 18

Jubilant FoodWorks

Jubilant FoodWorks has two key technical analysis signals: a bull divergence on the daily Moving Average Convergence Divergence (MACD) indicator and a violation of a bearish trend line that had been in place for 3-4 months.
 

A bull divergence occurs when the stock price forms lower lows while the MACD indicator forms higher lows, indicating a potential reversal from a downtrend to an uptrend. READ MORE

7:44 AM

NSE, BSE special session: Why are Indian stock markets open today, May 18?

"Members are requested to note that Exchange shall be conducting a special live trading session with intra-day switch over from Primary site to Disaster Recovery site on Saturday, May 18, 2024 in Equity and Equity Derivatives segments," NSE and BSE had said in separate statements on May 7. READ MORE

7:37 AM

ALERT :: No GIFT Nifty cues available on Saturday, May 18

7:32 AM

ALERT :: Asian markets are shut today for weekend break

7:27 AM

ALERT :: Dow closes at record high above 40,000 to cinch a five-week winning streak

>> The Dow Jones Industrial Average closed Friday above the key 40,000 level for the first time in history, a day after hitting that benchmark in the previous trading session.

 

>> The 30-stock average rose 134.21 points, or 0.34%, to 40,003.59.

>> The S&P 500 inched up 6.17 points, or 0.12%, to 5,303.27, while Nasdaq Composite ended down 12.35 points, or 0.07%, at 16,685.97.
 

7:24 AM

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