Sensex Today Live Updates: On May 21, foreign institutional investors (FIIs) made net purchases of shares worth ₹4,670.95 crore, while domestic institutional investors (DIIs) invested ₹146.51 crore in shares, according to provisional data from the NSE.
Sensex Today Live Updates: Market Highlights and Corporate Results
Key Updates:
- FIIs and DIIs Activity: On May 21, foreign institutional investors (FIIs) net bought shares worth ₹4,670.95 crore, while domestic institutional investors (DIIs) invested ₹146.51 crore, according to provisional data from the NSE.
Companies Reporting Results:
On May 24, several prominent companies reported their quarterly results, including:
- Hindalco Industries
- Bosch
- NTPC
- Ashok Leyland
- Hindustan Copper
- Glenmark Pharmaceuticals
- Cochin Shipyard
- Nazara Technologies
- Aegis Logistics
- Bajaj Healthcare
- DOMS Industries
- Easy Trip Planners
- Indiabulls Housing Finance
- Coffee Day Enterprises
- Karnataka Bank
- Manappuram Finance
- Narayana Hrudayalaya
- Suzlon Energy
- Torrent Pharmaceuticals
- United Spirits
Global Market Overview
European Markets:
European stocks slid on Friday, mirroring declines in the US and Asia. The Stoxx Europe 600 benchmark fell by 0.5%, with technology and financial stocks leading the decline. Contracts for US stocks edged up by about 0.2% after stronger-than-expected US business activity data caused the biggest drop in the S&P 500 Index this month. Market expectations for the Federal Reserve’s first interest rate cut shifted from November to December.
US Markets:
The shift in expectations regarding the Federal Reserve’s interest rate cuts put the dollar on track for its biggest weekly gain since early April. Rate-sensitive Treasury two-year yields traded just off their three-week highs. The minutes of the Fed’s May meeting revealed that policymakers were not in a rush to cut rates, with some even suggesting the need for more restrictive policies.
Key Insights:
Anders Faergemann, a portfolio manager at Pinebridge Investments, noted that the US economy was stronger than expected despite the current interest rate levels. Market sentiment is likely to remain firm as long as Fed Chair Jerome Powell signals potential rate cuts and dispels thoughts of further rate hikes.
Individual Stock Movers:
- DS Smith Plc: Fell as much as 4.2% in London amid uncertainty over International Paper Co.’s plan to acquire the UK packaging company.
- Micron Technology Inc. and Microchip Technology Inc.: Made gains in New York premarket trading.
- Nvidia Corp.: Slipped despite blockbuster quarterly results that propelled it to new record highs.
Commodities:
Oil prices held near their lowest level in over three months amid concerns over demand ahead of the Memorial Day weekend, marking the start of the US summer driving season.
Indian Market Performance
Sensex and Nifty Performance:
After closing at record highs on Thursday, the Indian benchmark indices faced a minor setback on Friday. Despite spirited early trades that saw both indices surpassing their previous all-time highs, they closed slightly lower.
- Sensex: Opened lower at 75,335.45, touched a low of 75,244.22, and created a fresh all-time high of 75,636.50 in early trades. It closed at 75,410.39, down 7.65 points, or 0.01%.
- Nifty 50: Opened lower at 22,930.75, touched a low of 22,908.00, and reached a new peak of 23,026.40 during intraday trades. It closed at 22,957.10, down 10.55 points, or 0.05%.
Market Sentiment:
Vaibhav Vidwani, Research Analyst at Bonanza Portfolio, commented, “Domestic market indices Sensex and Nifty stepped back after hitting all-time high levels due to weak global market cues.”
Sectoral and Stock Performance:
- Top Gainers on BSE Sensex: HDFC Bank, Bharti Airtel, Larsen & Toubro, NTPC, Axis Bank.
- Top Drags on BSE Sensex: Tech Mahindra, Asian Paints, ITC, TCS, Mahindra & Mahindra.
- Top Gainers on Nifty 50: HDFC Bank, Bharti Airtel, BPCL, Larsen & Toubro, UltraTech Cement.
- Top Drags on Nifty 50: Adani Ports & SEZ, Tech Mahindra, Mahindra & Mahindra, JSW Steel, Titan, Asian Paints.
The broader market indices ended on a mixed note:
- BSE SmallCap: Down 0.20%
- BSE MidCap: Down 0.23%
Sectoral Performance:
- Sectors closing in the red: FMCG, IT, Pharma, Healthcare.
- Sectors closing in the green: Bank, Financial Services, Auto, Media, Oil & Gas.
Corporate Results
Hindalco Industries:
- Q4 Net Profit: Increased by 31.7% to ₹3,174 crore compared to ₹2,411 crore in the previous year.
- Revenue from Operations: ₹55,994 crore compared to ₹55,857 crore last year.
- Dividend: Declared a dividend of ₹3.50 per share.
Ashok Leyland:
- Q4 Net Profit: ₹853.41 crore, up 13.72% YoY from ₹750.43 crore.
- Revenue from Operations: ₹13,577.58 crore compared to ₹13,202.55 crore last year.
- Interim Dividend: Declared an interim dividend of ₹4.95 per share.
Manappuram Finance:
- Q4 Net Profit: Increased by 35.7% YoY to ₹563.5 crore from ₹415 crore.
Interactive Elements and Call-to-Action
FAQ
Q1: What were the key factors affecting the Indian stock market on May 24? A1: The Indian stock market was influenced by weak global market cues, despite initial gains that pushed Sensex and Nifty to new record highs.
Q2: Which sectors performed well on May 24? A2: The Bank, Financial Services, Auto, Media, and Oil & Gas sectors closed in the green, while FMCG, IT, Pharma, and Healthcare sectors faced declines.
Q3: How did Hindalco Industries perform in its Q4 results? A3: Hindalco Industries reported a 31.7% increase in its Q4 net profit to ₹3,174 crore and declared a dividend of ₹3.50 per share.
Q4: What were the notable movements in the global markets? A4: European and US markets experienced declines, with the Stoxx Europe 600 falling by 0.5%. Market expectations for the Fed’s first interest rate cut shifted from November to December.
Q5: How did oil prices perform leading up to the Memorial Day weekend? A5: Oil prices held near their lowest level in over three months due to demand concerns ahead of the US summer driving season.
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