Stock Market Live: Markets trade volatile! Nifty above 22,550, Sensex near 74,100; Realty and FMCG stocks shine – Market News

14:02 (IST) 22 May 2024

Stock market today live updates | Go Digit IPO: Check GMP and other details ahead of listing on May 23

Go Digit’s IPO will be live in the secondary markets from May 23. The shares of the company – in which Virat Kohli and Anushka Sharma have invested – were attracting a premium of over 11% in the grey market. It is an unofficial market where shares change hands in an illegal way before listing. Market participants take cues by tracking grey market premiums. 

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Share Market Highlights: Sensex, Nifty end flat! Nifty settles above 22,500, Sensex near 74,000, Metal and PSU Banks shine

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Will Nifty break consolidation and move higher? See GIFT Nifty, FII data, F&O, crude, and more before market opens

The insurance company opened its IPO on May 15 and closed it on May 17. Go Digit raised Rs 2,614.65 crore via a combination of fresh issues and an offer for sale price band at Rs 258 to Rs 272 per equity share. A retail investor had to bid for a minimum of 55 shares aggregating to Rs 14,960. 

13:23 (IST) 22 May 2024

Stock market today live updates | Hindustan Zinc gains over 7%

Shares of Hindustan Zinc, primarily owned by Vedanta, rose another 7% on Wednesday, marking gains for the sixth consecutive day. The stock reached an intraday high of Rs 807.7 in today’s trading session and has gained in eight out of the last nine trading sessions.

13:10 (IST) 22 May 2024

Share market today live updates | Cipla top gainer in Nifty 50

The stock of Cipla rose 3.5% to an intraday high of Rs 1,492.25. The stock was the top gainer in the Nifty 50. The company’s stock hit its 52-week high of Rs 1,519 on March 11, 2024.

12:14 (IST) 22 May 2024

Stock market today live updates | Nuvama on BHEL

Nuvama has maintained a ‘Buy’ rating on BHEL, raising the target price significantly to Rs 400 from Rs 265. In its detailed report, Nuvama pointed out that while higher provisioning has negatively impacted BHEL’s profitability, the company’s project pipeline looks robust and promising. 

BHEL is considered to be in an excellent position to benefit from the anticipated thermal power wave over the next 12-24 months. Additionally, Nuvama has adjusted its earnings per share (EPS) estimates for FY25 and FY26, revising them upwards by 0.4% and 7%, respectively. 

This revision takes into account the ongoing execution of low operating profit margin (OPM) legacy orders until FY25 and a projected increase in new order executions starting from FY26, indicating a positive long-term outlook for the company.

12:11 (IST) 22 May 2024

Share market today live updates | Spicejet rises on Rs 450 crore refund from Maran

Shares of Spicejet rose 3.7% to an intraday high of Rs 63.25 after it will ask for a refund of Rs 450 crore from Kalanithi Maran. The refund amount is out of the Rs 730 crore it has previously paid to former promoter Maran and his firm, KAL Airways, following the Delhi High Court’s order on May 17.

11:47 (IST) 22 May 2024

Stock market today live updates | Hitachi Energy jumps over 8%

Hitachi Energy’s share price surged over 8% in the early trading session on Wednesday, following the company’s report of more than doubling its net profit in the Q4 results. The shares soared as much as 8.01%, reaching an intra-day high of Rs 11,700 per share on the NSE.

11:15 (IST) 22 May 2024

Stock market today live updates | Awfis Space Solutions IPO opens

Co-working office services provider Awfis Space Solution’s IPO opened on May 22 for subscription. The company has kept the price band in a range of Rs 364 to 383 per equity share. It will raise Rs 598.93 crore from investors by offering them 15.6 million shares via a combination of fresh issue and offer for sale.

10:40 (IST) 22 May 2024

Sensex today live updates | Sensex index movers

Courtesy: BSE

10:25 (IST) 22 May 2024

Share market today live updates | Nifty 50 index movers

Courtesy: NSE

09:57 (IST) 22 May 2024

Stock market today live updates | BHEL plunges over 8%

The shares of Bharat Heavy Electricals plunged over 8% in eary trading session on Wednesday after the company reported a 25% drop in net profit year-on-year in Q4FY24. The share price of BHEL slipped 8.20% to intra-day low of Rs 295 on NSE.

09:47 (IST) 22 May 2024

Stock market today live updates | Top movers on NSE

Coal India, Reliance, Hindustan Unilever, Ultra Tech Cement, and NTPC are the top gainers on NSE Nifty 50 index whereas top laggards include, Sun Pharma, Power Grid, JSW Steel, Hindalco, and Shriram Finance.

09:23 (IST) 22 May 2024

Share market today live updates | Geojit on markets

“The market is likely to respond to the election outcome earlier than June 4th. Investors can consider buying stocks before the results. Priority can be given to largecaps which are fairly valued compared to the broader market where valuations are much higher. A possibility around the election results time is both FIIs and DIIs turning buyers lifting the largecaps and the indexes to higher levels,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

08:59 (IST) 22 May 2024

Stock market today live updates | Nifty’s outlook by Vaishali Parekh

“With the overall bias maintained positive, we expect the levels near the 22400 zone to be sustained in the coming days, and a decisive breach above 22600 levels shall further strengthen the trend to expect for the next target of the 22900 level,” said Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher.

08:42 (IST) 22 May 2024

Stock market today live updates | Markets’ outlook before opening

“Early action at GIFT Nifty suggests a volatile day as sentiment wavers after Federal Reserve officials, including Governor Christopher Waller, reiterated the need for sustained inflation decline before considering rate cuts. Anxiety prevails ahead of the FOMC minutes release. Despite record FPI outflows and rising India VIX above 21, Nifty’s outlook remains optimistic. Metal stocks, buoyed by rising copper prices due to Chinese housing market interventions, are in focus. The falling WTI crude prices at $78 per barrel add a positive note. Technically, Nifty remains bullish, aiming for all-time highs of 22,795 and beyond,” said Prashanth Tapse, Senior Vice President of Research at Mehta Equities.

08:30 (IST) 22 May 2024

Share market today live updates | Gold movement today

“The FOMC minutes for the May FOMC meeting will be released today, which will be crucial for the yellow metal. US existing home sales (April) and the UK’s CPI (April) data will also be in focus. Gold is expected to range trade ahead of the FOMC minutes. Support is at $2400/$2380, whereas resistance is at $2450/$2475. Traders continue to buy the dips as their preferred strategy. The metal may reach the $2500 level in the short term,” said Praveen Singh, Associate Vice President of Fundamental Currencies and Commodities at Sharekhan by BNP Paribas.

08:26 (IST) 22 May 2024

Stock market today live updates | Expert’s view on Nifty

“On the daily charts, we can observe that the Nifty has been in the recovery process after testing the lower end of the rising channel. It has now reached the 22570 – 22600 zone where resistance in the form of 78.6% Fibonacci retracement level is placed. The hourly momentum indicator has triggered a negative crossover which indicates that the Nifty is likely to consolidate. Considering that prices have reached a crucial level and there is a loss of momentum on the hourly time frame we can expect the Nifty to consolidate over the next few trading session. We should keep a stoploss of 22400 for the long positions,” said Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas.

08:16 (IST) 22 May 2024

Share market today live updates | FII and DII data

Foreign institutional investors (FII) sold shares net worth Rs 1,874.54 crore. However, domestic institutional investors (DII) bought shares net worth Rs 3,548.97 crore on May 21, 2024, according to the provisional data available on the NSE.

08:04 (IST) 22 May 2024

Stock market today live updates | Crude Oil

WTI crude prices were trading at $78.13 down by 0.67%, while Brent crude prices were trading at $82.40 down by 0.58%, on Wednesday morning.

07:55 (IST) 22 May 2024

Share market today live updates | Dollar Index

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, traded lower, 0.01% at 104.61.

07:37 (IST) 22 May 2024

Stock market today live updates | Wall Street

The Wall Street or US market rose as investors awaited Nvidia to report its quarterly results. Also, market participants are waiting for the Fed MPC’s minutes of the meeting to be released on Wednesday. Further, the Nasdaq and S&P 500 reached an all-time high. The tech-heavy index Nasdaq Composite gained 37.75 points or 0.22% to settle at 16,832.62. The S&P 500 advanced 13.28 points or 0.25% to settle the session at 5,321.41. The Dow Jones Industrial Average advanced 66.22 points or 0.17% to 39,872.99.

 

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