Stock Market News: Trends on GIFT Nifty Suggest Positive Opening

The Indian equity market ended in the green on May 14, 2024, with Sensex adding 328 points at 73,104.61. Nifty50 gained 113 points and ended the session at 22,217.85.

Around 2,689 stocks advanced, and 1,117 stocks declined while 117 stocks remained unchanged.

Among sectoral indices, Nifty Metal was the top gainer, up 2.77 percent, followed by Nifty Auto and oil & gas, which were up 1.8 percent each. Nifty PSU Bank, Consumer durables, and realty were up 1 percent each. Among losers, Nifty FMCG and Pharma were down 0.5 percent each.

GIFT Nifty

The GIFT Nifty trends suggest a positive opening for the broader index in India.

US Markets

The Nasdaq scored a record closing high on Tuesday and the S&P 500 and the Dow also advanced as Federal Reserve Chair Jerome Powell reassured investors while they digested Tuesday’s data and waited for Wednesday’s crucial consumer inflation report.

The Dow Jones Industrial Average rose 126.60 points, or 0.32 percent, to 39,558.11. The S&P 500 gained 25.26 points, or 0.48 percent, at 5,246.68. The Nasdaq Composite advanced 122.94 points, or 0.75 percent, to 16,511.18, according to a Reuters report.

Asian Markets

Asia-Pacific markets were mostly higher Wednesday, tracking Wall Street gains overnight that saw the Nasdaq Composite index hit a fresh record closing high despite strong inflation data.

In Australia, the S&P/ASX 200 index opened 0.44 percent higher. Japan’s Nikkei 225 gained 0.75 percent, while the broader Topix added 0.53 percent. Markets in South Korea and Hong Kong were shut on Wednesday for a public holiday, according to a CNBC.com report.

Also read: PVR Inox Q4 Earnings: Net Profit Slips QoQ After Bollywood Films Disappoint

Stocks in News

• Infosys: The company announced a multi-year strategic collaboration with First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates (UAE), to optimise and modernize FAB’s IT infrastructure services.
• Siemens: The company approved the proposal to demerge its energy business into a separate legal entity – Siemens Energy India Limited.
• Mahindra & Mahindra: Mahindra Holdings (MHL), a wholly owned subsidiary of Mahindra and Mahindra, has executed a Share Purchase Agreement with Space Investments, Defati Investments Holdings BV and Infinity Partners, and New Delhi Centre for Sight (NDCFS) and the promoters of NDCFS.
• Macrotech Developers: The firm will invest Rs 3,500-4,000 crore this fiscal to acquire new land parcels, outright and through joint development agreements with
  landlords, to build housing projects as part of its expansion plan to encash a surge in demand for residential properties.
• Shilpa Medicare: The pharma company completed an ongoing Phase 3 clinical trial of its newly developed drug, SML-007, for the treatment of non-alcoholic fatty liver
  disease (NAFLD).
• Devyani International, PVR INOX: The firm announced a strategic partnership to jointly establish a company in India for the purpose of development and operation of food courts in shopping malls.

FII & DII Flow

FIIs sold shares worth Rs 4,065.52 crore. DIIs bought in Rs 3,527.86 crore worth of stocks on May 14.

Results Today

Power Finance Corporation, LIC Housing Finance, Dixon Technologies, Indian Energy Exchange, Jindal Stainless, Jyothy Labs, Mankind Pharma, Medi Assist.

Stocks under F&O ban on NSE

Birlasoft, Balrampur Chini Mills, Canara Bank, GMR Airports Infrastructure, Hindustan Copper, Vodafone Idea, Piramal Enterprises, SAIL, Zee Entertainment Enterprises.

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