Stock Market Today: Sensex, Nifty Trade Flat; Auto, Bank, FMCG Gain


by Sandip Das on 15 May 2024,  4 min read


The Indian stock market was trading flat intraday on May 15, 2024 amid volatility. At 12:25 PM, Sensex shed 147 points at 72,957.41 while Nifty shed 25 points and was trading at 22,192.75.

Around 2,293 stocks advanced and 1,380 stocks declined while 135 stocks remained unchanged.

Among the sectors, selling was seen in Auto, Bank Nifty and FMCG which shed 0.5 percent each. On the other hand, buying was seen in PSU Bank, Realty and Metals.

Top Nifty50 Gainers
  • Cipla: 3.83%
  • Coal India: 3.35%
  • NTPC: 1.41%
  • Dr Reddy’s Laboratories: 1.24%
  • HCL Technologies: 1.17%
Top Nifty50 Losers
  • Eicher Motors: -2.29%
  • Sun Pharma: -1.37%
  • Bajaj Auto: -1.28%
  • HDFC Bank: -1.25%
  • Tata Motors: -1.17%
Stocks in News

TBO Tek’s shares had an impressive debut on the stock exchanges on May 15, opening at Rs 1,426 on the NSE, which marked a significant premium of 55 percent over the issue price of Rs 920. This strong start was in line with expectations, as data from the grey market had indicated a potential listing premium of approximately 50 percent. Grey market information provides insights into the positioning of a company’s shares in the unlisted market and may experience rapid fluctuations.

Also read: Hero MotoCorp, Aditya Birla Fashion Top 2 Stocks to Buy for Up to 15% Return
Aadhar Housing Finance

Aadhar Housing Finance shares had a lackluster debut on Dalal Street, opening at Rs 314 per share on May 15, marking a slight decrease of 0.3 percent compared to the issue price of Rs 315 per share. The initial public offering (IPO) of Aadhar Housing, valued at Rs 3,000 crore, saw robust subscription rates, with an overall subscription of 26.76 times. Notably, it garnered 76.4 times subscription from qualified institutional buyers (QIBs), 17.3 times from non-institutional investors (NIIs), and 2.5 times from retail investors.

The Aadhar Housing IPO concluded on May 10, with a price band set between Rs 300 and Rs 315 per share. The company plans to utilize the IPO’s net proceeds to fulfill future capital requirements for lending activities and for general corporate purposes.

Life Insurance Corporation

The Securities and Exchange Board of India (SEBI) has extended the deadline for Life Insurance Corporation of India (LIC) to achieve a 10 percent public shareholding by three years. LIC, the largest life insurer in the country, disclosed this on May 15. The new deadline for LIC to reach the 10 percent mark is now on or before May 16, 2027, nearly two years after its initial public offering.

Following this announcement, the LIC stock saw a rise, trading 3.3 percent higher at Rs 962.20 at 10:53 am. As of March 31, 2023, the public shareholding in LIC stood at 3.5 percent. The government still needs to divest 6.5 percent over the next three years to meet the minimum 10 percent shareholding requirement.

Source: NSE, BSE

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Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment

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