Share Market Today Live Updates May 24, 2024: Stock market today: Sensex, Nifty 50 end

• Stock market today: The Sensex and the Nifty 50, equity benchmarks of the Indian stock market, closed flat with negative bias on Friday, May 24.

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• Expert view: If the BJP falls short of 350 seats in the Lok Sabha election, the market may face volatility. The focus will shift to appointing the finance minister and Budget, contributing to further market volatility, says Sunil Damania, Chief Investment Officer, MojoPMS.

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• Sharma observed that the household financial position began deteriorating in the pre-pandemic years and continued to worsen in recent years as well.

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• Lok Sabha Elections 2024: The benchmark Nifty-50 index crossed 23000 mark and is trading near highs as market participants expect ruling National Democratic alliance led by BJP, retaining power. Nevertheless market may see sharp 20% decline in event of election outcome is not as per expectations.

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• Transformers & Rectifiers India (TRIL) shares hit 5% upper circuit limit at ₹620 apiece after significant order win of ₹161 crore.

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• Indian PSU stocks, especially defence shipbuilders like Mazagon Dock, Garden Reach, and Cochin Shipyard, are witnessing substantial share price surges. Cochin Shipyard’s recent order for a hybrid service operation vessel pushed its stock by 34% in just four sessions.

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• While Petronet LNG’s diversification plan could be to derisk itself from natural gas price volatility, the move could erode its margins significantly

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• Indian market’s outperformance makes foreign investors cautious, prompting a potential shift in sentiment, says Chris Wood.

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• GSM Foils IPO subscriptions began on May 24 and will end on May 28 at a price band of ₹32 per share. The company produces Blister Foils and Aluminium Pharma Foils for pharmaceutical packaging. Promoters are Mohansingh L. Parmar and Sagar Girish Bhanushali.

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• ITC reported a 1.3 percent YoY decline in its standalone net profit to ₹5,020.20 crore for the quarter ending March 2024, slightly below the ₹5,150 crore estimated by analysts in a Bloomberg poll.

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• Gold price today: Gold prices experience profit-taking as US Federal Reserve’s hawkish tone diminishes rate cut prospects. MCX Gold trades lacklustre on weak global cues.

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• How bonds can fit into your portfolio.

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• Max Healthcare share price that has risen by around 44% in last one year, is down more than 10% since highs in February and around 5% since Q4 results on 22 May. The Q4 results as per analysts were in line post completion of acquisitions. Buy or Sell?

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• Brent and WTI prices declined due to demand concerns and US interest rates. Fed’s cautious stance on rate cuts affected prices. US stockpiles increased, while Russia exceeded production quota. OPEC+ meeting in June likely to extend output cuts to balance global supply.

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• New funds will allow mainstream investors to buy and sell the cryptocurrency as easily as stocks or mutual funds

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• Shares of Adani Enterprises Ltd., the flagship of Indian billionaire Gautam Adani’s group, have erased all the losses inflicted by a scathing short-seller report in early 2023, after the conglomerate cut debt and landed major projects.

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• Following shares hit their 52 week low today – Varanium Cloud, Semac Consultants, GSS Infotech, MEGASTAR FOOD, Brightcom Group

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• Following shares hit their 52 week high today – Havells India, Samvardhana Motherson International, Ambuja Cements, State Bank Of India, Divis Laboratories

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• Finolex Cables stock surges over 14% to record high of ₹1,308.25 after posting better-than-expected Q4FY24 results. Revenue up 18.3% to ₹1,450.69 crore. Net profit rises 6.3% YoY to ₹186.1 crore. EBITDA increases 11.2% to ₹162 crore.

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• Hariom Atta & Spices (HOAC Foods India) had a strong market debut with shares opening at ₹147 on NSE SME, a premium of 206% over the issue price. The IPO received exceptional subscription of 2,013.64 times, aiming to use proceeds for working capital and general purposes.

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• Gold And Silver Prices Today:Gold And Silver Prices Today : 10 gm of 24 carat gold was at Rs.74574.0 in Delhi whereas 1 kg of silver was Rs.90240.0 in Delhi.

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• Rulka Electricals share price had a strong debut on NSE SME, with shares opening at ₹525, a 123.40% increase from the issue price.

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• Stock in focus: Rajesh Palviya has recommended to buy, hold, and accumulate Infosys Ltd, Bajaj Finance Ltd, and ACC Ltd.

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• NSE-listed companies reached $5 trillion market cap in just 6 months, with Nifty hitting new highs. Nifty 500 index also reached an all-time high, indicating broad-based growth. Market participation has expanded, with corporate resource mobilization and improved liquidity in the secondary market.

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• Stock Market Today: JK Lakshmi Cement share price gained more than 7% post Q4 Results that were declared after the market hours on Thursday.

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• Nifty hits 23,000 for the first time

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• Vodafone Idea share price rose 4% as UBS upgraded rating to ‘buy’ with target price at ₹18. Analyst predicts 70-80% rally due to potential AGR decrease or equity conversion. Technical Analyst expects further upmoves towards 15.8 with support at 14.10.

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• Awfis Space Solutions IPO price band is fixed at ₹364 to ₹383 per share. The IPO lot size is 39 shares. The issue includes a reservation of up to 57,636 shares for employees and the company has offered at a discount of ₹36.

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• Stocks to buy or sell: Sumeet Bagadia has recommended buying these five breakout stocks today — Cochin Shipyard Ltd, Saregama India Ltd, Rail Vikas Nigam Ltd (RVNL), Olectra Greentech Ltd, and Mazagon Dock Shipbuilders Ltd.

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• Here are a few stocks likely to be in focus on Friday, May 24:

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• Stocks to buy: Chandan Taparia recommends three stocks to buy today. These three stocks to buy today include, Cochin Shipyard, Bharti Airtel and Bharat Electronics (BEL).

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• Stocks to buy today: Experts have recommended buying these five shares — Shriram Finance Ltd, Tata Motors Ltd, Chennai Petroleum Corporation Ltd, Bajaj Auto Ltd, and State Bank of India (SBI).

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• The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 22,950 level, a discount of nearly 50 points from the Nifty futures’ previous close.

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• Indian stock market: Gift Nifty was trading around the 22,950 level, a discount of nearly 50 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.

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• Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Axis Bank Ltd, Birlasoft Ltd, and IndusInd Bank Ltd.

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• Vedanta has declared an interim dividend of ₹11.00 per equity share; Tata Consumer Products has declared a final dividend of ₹7.75 per equity share

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• Aditya Birla Capital, Balrampur Chini Mills, Bandhan Bank, Hindustan Copper, IEX, India Cements, Metropolis Healthcare, National Aluminium, Piramal Enterprises, PNB, and ZEEL are the 11 stocks in the F&O ban list of the NSE for May 24

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