Stock Market LIVE updates on Wednesday, May 15, 2024: Sectorally, the Nifty PSU Bank index rose over 1 per cent, followed by the Nifty Media, and Metal indices (up 0.6 per cent each)
Opening Bell on May 15, 2024: Indian equities clocked decent gains in early deals on Wednesday, lifted by firm global mood, and bargain buying back home. The S&P BSE Sensex quoted at 73,171, up 66 points or 0.09 per cent.
The NSE Nifty50, meanwhile, gained 37 points, or 0.17 per cent, to trade at 22,255. The benchmarks were supported by gains in Cipla, Bharti Airtel, Hindalco, BPCL, Coal India, Tata Steel, ONGC, NTPC, and SBI.
In the broader markets, the BSE MidCap, and SmallCap indices added nearly 1 per cent each.
Sectorally, the Nifty PSU Bank index rose over 1 per cent, followed by the Nifty Media, and Metal indices (up 0.6 per cent each).
9:35 AM
BSE SmallCap Heatmap:: KDDL, ITI soar up to 10%; Chalet Hotels slips 4%
9:33 AM
BSE MidCap Heatmap:: Linde India, Oberoi Realty zoom 7%; Aarti Inds down 1%
9:29 AM
Sectoral Movers:: Metals, PSU Banks, Realty shine in early trade on May 15
9:26 AM
Broader market check:: MidCap, SmallCap indices outrun Nifty; VIX up 2%
9:23 AM
Nifty Movers & Shakers:: Cipla soars 4%; HDFC Bank, HDFC Life in red
9:22 AM
Sensex 30 Heatmap:: Airtel, NTPC gain 1.5%; HDFC Bank slips 0.8%
9:20 AM
Opening Bell:: NSE Nifty 50 atop 22,250, up 39 pts
9:17 AM
Opening Bell:: Sensex opens nearly 100 pts higher at 73,194
9:08 AM
Pre-open deals: Sensex up nearly 100 pts; Nifty atop 22,250
Oakridge Bachupally Marks Another Year of Academic Success with Exceptional 2024 CBSE Results
9:05 AM
Currency check :: Rupee opens at 83.49/$ vs Tuesday’s close of 83.51/$
9:03 AM
ALERT :: China mulls Govt purchase of unsold homes to ease glut, reports Bloomberg
9:00 AM
Pre-market: Gift Nifty hints gap-up open; Bank Nifty expiry; FII, DII flows
Among key stocks – Bharti Airtel will react to its Q4 numbers released post market hours on Tuesday, the telecom major reported a 31 per cent YoY drop in net profit at Rs 2,071 crore. Cipla too will be in focus on reports that the Hamied family are planning to sell 2.53 per cent stake in Cipla via block deals on Wednesday.
8:55 AM
Stocks to watch on May 15: M&M, Radico Khaitan, Macrotech Developers
M&M:Mahindra Holdings has announced the sale of its 30.84 per cent stake in New Delhi Centre For Sight for Rs 425.4 crore to Space Investments, Defati Investments & Infinity Partners.
Radico Khaitan:The company reported its Q4 results on May 14. Its profit rose 26.5 per cent on a year-on-year basis to Rs 54 crore, as compared to Rs 42.6 crore in the same quarter a year ago. Its revenue jumped 30 per cent to Rs 1,079 crore, as opposed to Rs 832 crore in the same quarter previous fiscal.
8:50 AM
Bharti Airtel, Cipla, Paytm, Colgate among seven stocks to track on May 15
Bharti Airtel: The telecom giant reported a 31 per cent decline in consolidated net profit for Q4FY24, amounting to Rs 2,071.6 crore, compared to Rs 3,005.6 crore in the same period last year. Consolidated revenue from operations also dropped 10.5 per cent to Rs 7,467 crore year-on-year.
Cipla: Reports suggest that Cipla promoters are set to sell a 2.53 per cent stake worth Rs 2,637 crore.
8:46 AM
Nifty Bank, Private Bank indicate bullish turn on charts; key levels here
In light of these factors, traders may consider buying on dips on Nifty Bank index with targets set at the aforementioned resistance levels. Conversely, if the index breaks below the support level of 46950, it could indicate further downside momentum. In such a scenario, the next support levels to watch would be at 46,580 and 45,730.
8:46 AM
Nifty Bank, Private Bank indicate bullish turn on charts; key levels here
In light of these factors, traders may consider buying on dips on Nifty Bank index with targets set at the aforementioned resistance levels. Conversely, if the index breaks below the support level of 46950, it could indicate further downside momentum. In such a scenario, the next support levels to watch would be at 46,580 and 45,730.
8:42 AM
Silver, Natural Gas: Check target price, trading strategies for May 15
On the daily chart, silver is showing a bullish trend with a pattern of higher highs and higher lows. Similarly, the Relative Strength Index (RSI) is mirroring this pattern, further indicating bullish sentiment. Key resistance levels for silver are around 85,800 and 86,200, while support levels are at approximately 84,800 and 84,370.
8:38 AM
MOIL, TechM: Top buy & sell ideas from Vinay Rajani of HDFC Securities
Stock Market Buy Tech Mahindra (Rs 1,275): | Target: Rs 1,380 | Stop loss: Rs 1,215
On April 26, stock broke out from the downward sloping trend line on the daily chart. Price rise was accompanied by rise in volumes. Post breakout, stock witnessed correction and reached a gap support on the daily chart. After taking support in the gap, sock resumed its primary uptrend. Indicators and oscillators have turned bullish on the daily chart.
8:33 AM
Fund Flow :: DIIs buy equities worth Rs 3,527.86 crore on May 14
8:27 AM
Fund Flow :: FIIs/FPIs sell equities worth Rs 4,065.52 crore on May 14
8:22 AM
ALERT :: GIFT Nifty suggests positive start on Wednesday
>> At 8:22 AM, the index was up 58 points at 22,367 level
8:19 AM
Stock Market are little changed as Wall Street readies for key inflation report
>> Stock futures were little changed as Wall Street braced for April’s consumer price index.
>> Futures tied to the Dow Jones Industrial Average added 17 points, while S&P 500 futures and Nasdaq 100 futures hovered near the flatline.
8:16 AM
China’s BYD launches hybrid pickup in Mexico as US hikes EV tariffs
>> Chinese automaker BYD unveiled the Shark, a mid-size hybrid-electric pickup truck, in Mexico on Tuesday, as its regional chief brushed off new US tariff hikes on Chinese EVs, saying the company was not eyeing an entry to the US market.
>> The Shark strengthens BYD’s foothold in the North American market with a vehicle aimed directly at incumbents Ford, General Motors, and Toyota.
>> It is for now only available in Mexico, executives said, and is the first time the world’s largest electric-vehicle (EV) maker has launched a new product outside its home country.
8:12 AM
ALERT :: China’s central bank leaves key policy rate unchanged
>> China’s central bank left a key policy rate unchanged when rolling over maturing medium-term lending facility (MLF) loans on Wednesday, in line with market expectations.
>> The People’s Bank of China (PBOC) said it was keeping the rate on 125 billion yuan ($17.28 billion) in one-year MLF loans to some financial institutions unchanged at 2.50% from the previous operation.
8:09 AM
Stock Market ALERT :: China’s economy reveals pockets of softness
>> As China’s economy moves into the second quarter of the year, a few indicators are pointing to sluggish growth ahead if things don’t turn around.
>> Meanwhile, the National Bureau of Statistics is due to release data on retail sales, industrial production and fixed asset investment for April on Friday.
>> The same day, China plans to issue its first ultra-long bond — 30 years in term — as Beijing kicks off a previously announced program for a total of 1 trillion yuan ($138.25 billion) in funds for major strategic projects.
>> The central government bond program comes as the drag from real estate persists, while businesses and consumers largely remain conservative about spending.
>> The People’s Bank of China over the weekend released new loan data for April that pointed to a sharp slump in demand, with several metrics at their lowest in at least two decades.
8:06 AM
Stock Market ALERT :: Fed Chair Powell says inflation has been higher than thought
>> Fed Chair Jerome Powell reiterated Tuesday that inflation is falling more slowly than expected, likely keeping interest rates elevated for an extended period.
>> “We did not expect this to be a smooth road. But these [inflation readings] were higher than I think anybody expected,” Powell said in Amsterdam. “What that has told us is that we’ll need to be patient and let restrictive policy do its work.”
>> Tuesday brought a fresh round of discouraging inflation data, when the producer price index rose a higher-than-expected 0.5% in April.
8:03 AM
Stock Market Asian markets :: Nikkei, ASX gain on strong Wall St handover
>> Kospi, and Hang Seng are shut today
7:58 AM
Wall Street check :: Nasdaq ends at record close
7:53 AM
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