Share Market Today Live Updates May 21, 2024: Gold’s future hinges on Fed rate cuts and

• Gold prices surged due to Middle East tensions and Fed’s policy stance, but may face resistance at $2,370-$2,390 levels. Analysts suggest sustained levels depend on US rate cuts and dollar decline.

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• The crypto market is surging as investors react to a torrent of good news. ETH has skyrocketed 19% in 24 hours to surpass $3,700, while Bitcoin has crossed $71,000, up nearly 8%.

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• Hindustan Zinc shares surged by 20% to an all-time high of ₹743.60 apiece, marking a 133% gain for the year. Market capitalisation crossed ₹3 lakh crore.

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• Balkrishna sees stable demand in the US market. And in India, the tyremaker is targeting a 10% market share in the medium-term, up from 5-6% now
• The Street gave Balkrishna’s upbeat commentary and better-than-anticipated Q4 results a thumbs-up, with the stock hitting a fresh 52-week high on Tuesday

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• Top Gainers and Losers Today : The Sensex lost 52.63 points, or -0.07, to settle at 74005.94, while the Nifty gained 27.05 points, or 0.12, to close at 22502.0.

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• The staid utilities industry has become a top-performing sector.

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• Several high-profile companies and startups including Tata Capital, Hexaware, Ola Electric, and Swiggy are preparing for their public market debut in 2024-25
• Investment bankers expect the IPO lineup in FY25 to be twice as many as in FY24, including some that are expected to exceed $1 billion

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• Sensex, Nifty 50 end flat; BSE Midcap, Smallcap hit fresh all-time highs

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• Financial experts favor ICICI Bank over Axis Bank for long-term investment. Here’s why.

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• HAL is set for substantial growth ahead aided by defence modernization, gains from newer markets segment and sustained profit margin.

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• Crude oil prices fell despite the ongoing geopolitical tensions and ahead of the meeting of the Organization of the Petroleum Exporting Countries and its affiliates, together known as OPEC+ on supply. Both benchmarks fell less than 1% on Monday.

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• Q4 Results Review: Zydus Lifesciences share price with 115% rise in a year, 335% rise in 5 years has given Multibagger returns to investors. The stock scaled all time highs on Tuesday. The strong growth guidance by company post Q4 results as per analysts has led them raise earnings estimates

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• Power stocks are surging due to increased power demand from economic activities, with major players like Suzlon Energy and Bharat Heavy Electricals showing significant gains. The country’s power consumption is rising, driven by industrial and household sectors.

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• Shares of RateGain Travel Technologies surged almost 12 percent in intra-day deals on Tuesday after the firm posted strong results for the quarter ended March 2024 (Q4FY24).

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• Stock to buy: IREDA share price gained more than 4% on Tuesday during intraday trades to around ₹184 levels. Sumeet Bagaria recommends IREDA with more than 10% gains . Here’s why

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• Expert view: Hemant Sood, MD of Findoc, optimistic about the Indian stock market, suggests buying on dips for potential double-digit returns but warns of overvaluation. Diversification is key for equity investments.

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• Kotak notes high market volatility in May amid election anxiety and foreign outflows. It recommends a neutral equity allocation with a focus on defensive sectors.

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• As the IPL 2024 is ending, let’s draw parallels between crafting investment portfolios and selecting cricket teams.

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• According to market observers, the shares of Awfis Space Solutions are trading at a premium of ₹165 in the grey market.

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• China’s measures to stabilise the property market boosted metal prices. Industrial output grew in April, surpassing expectations. Expectations of a US Fed rate cut in September also fueled the rally. Amid this, Indian metal stocks soared, with Nifty Metal hitting multiple record highs in 2024.

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• Kotak Institutional Equities warns of high P/E multiples in Indian equity market, with 104 companies trading above 50X P/E and 9 above 100X P/E.

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• Stock Market today: Rail Vikas Nigam Ltd (RVNL) share price gained more than 15% to hit all time high of ₹345.90 on the NSE, during intraday trades on Tuesday. RVNL had announced large order win from the South Eastern Railways on Monday.

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• Gold price today: MCX Gold fell over half a per cent tracking weak global cues. Gold in international markets eased from its record-high levels as the US dollar dented the bullion’s safe-haven appeal.

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• Following shares hit their 52 week low today – LANCOR HOLDINGS ORD, Brightcom Group, POPULAR VEHICLES AND SERVICES ORD, Anupam Rasayan India, Vels Film International

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• Following shares hit their 52 week high today – Coal India, Havells India, Siemens, NMDC, Steel Authority Of India

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• Investors can check Quest Laboratories IPO allotment status on Bigshare Services Pvt Ltd website on Tuesday, May 21. Allotted shares will be credited to demat accounts while refunds will be issued for unallotted shares. Quest Laboratories shares will debut on NSE SME on May 23.

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• Delhivery’s shares tumbled 12% in intra-day deals after Q4FY24 loss of ₹96.2 crore. Revenue for the quarter fell over 7% QoQ to ₹1,878.77 crore, with EBITDA at ₹46 crore. Expenses surged to ₹2,257.2 crore.

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• Stocks to buy: Experts highlight potential stock opportunities. Recommendations include Concor, BF Utilities, GAIL, IEX, and Titan Company. Investors are advised to consult certified experts before making investment decisions.

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• Bharat Electronics (BEL) shares surged 9.35% to ₹283 after strong Q4 and FY24 results. Net profit increased by 30% to ₹1,797 crore and revenue grew by 32.18% to ₹8,564 crore for the quarter. Motilal Oswal revised its target price to ₹310 apiece, upgrading the rating from ‘Neutral’ to ‘Buy’.

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• Gold And Silver Prices Today:Gold And Silver Prices Today : 10 gm of 24 carat gold was at Rs.75071.0 in Delhi whereas 1 kg of silver was Rs.86460.0 in Delhi.

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• GAIL India share price has risen over 15% in the past three months, while the shares have gained over 28% year-to-date (YTD). In the past one year, GAIL shares have rallied more than 98% and over 114% in three years.

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• ABS Marine Services share price lists with a stellar 100% premium over the issue price, on ₹294, on the NSE SME. The issue had opened for subscription on Friday 10, May 2024 and closed on Wednesday , 15 May 2024.

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• Mandeep Auto Industries share price had a lackluster debut on NSE SME, starting at ₹62.25, a 7.63% premium over the issue price of ₹67. The IPO subscription period ran from May 13 to May 15, with a price band of ₹67 and 77.23 times subscription status.

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• Veritaas Advertising share price debuts positively on NSE SME with share price opening at ₹275, 141% higher than the issue price of ₹114.

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• The Indian stock market has been volatile for the last few weeks ahead of the Lok Sabha election 2024 outcome even though the market is still fairly hopeful that the BJP-led NDA will retain power after the election.

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• Go Digit IPO allotment date is today, May 21. The public issue opened for subscription on May 15 and closed on May 17. Go Digit IPO listing date is May 23 and the company’s shares will be listed on both the stock exchanges, BSE and NSE.

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• Stock Market Today: Multibagger stock IRFC share price that has given 419% returns in last one year remains in focus post Q4 results. IRFC reported a 33.6% YoY increase in net profit to ₹1,717 crore during Q4 from ₹1,285 crore during the same period last yeat year

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• The bank’s valuation, at 1.4x of its adjusted book value for FY24, remains undemanding. But there are too many moving parts that need to be monitored.

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• Stocks to buy or sell: Sumeet Bagadia has recommended buying these five breakout stocks today — Premier Explosives, Bharat Bijlee, Balkrishna Industries, Kaynes Technology India, and Affle (India).

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• The SME IPO market offers lucrative opportunities for investors, but retail investors often miss out due to limited share allocation to them and oversubscription issues.

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• Here are a few stocks likely to be in focus on Tuesday, May 21:

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• Stocks to buy: Chandan Taparia has recommended three stocks to buy today which he believes are technically placed to likely see an uptrend going ahead. These three stocks to buy today include NMDC, Indian Railway Finance Corporation, and GAIL India.

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• Stocks to buy today: Experts have recommended buying these six shares — Tata Motors, Indian Energy Exchange, Vedanta, West Coast Paper Mills, Fertilisers and Chemicals Travancore, and Royal Orchid Hotels.

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• The trends on Gift Nifty also indicate a strong start for the Indian benchmark index. The Gift Nifty was trading around 22,610 level, a premium of nearly 70 points from the Nifty futures’ previous close.

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• Q4 results on May 21: PI Industries, Hitachi Energy India, GE T&D India, Ircon International, NMDC Steel, Action Construction Equipment, Godawari Power & Ispat, Eris Lifesciences, and Aether Industries are also among the 28 companies that will announce their Q4 earnings today.

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• Indian stock market: Gift Nifty was trading around the 22,605 level, a premium of nearly 60 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.

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• While Shree Cement is grappling with weaker pricing trends in eastern India, there are glimmers of hope in its recent performance and future strategies. Investors have reasons to stay optimistic

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• Aditya Birla Capital, Balrampur Chini Mills, Bandhan Bank, Biocon, Birlasoft, GMR Airports Infrastructure, Granules India, Hindustan Copper, Vodafone Idea, India Cements, Piramal Enterprises, SAIL, and ZEEL are the 13 stocks in the F&O ban list of the NSE for May 21

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• Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Gujarat State Fertilizers and Chemicals Ltd, Welspun Corp Ltd, and HFCL Ltd.

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