Sensex Today Trades Higher | Nifty Above 22,600 Level | Hindustan Zinc Surges 5%

Fri, 31 May 10:30 am

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Asian stocks climbed Friday as the latest round of US economic data signaled momentum is slowing, boosting the case for the Federal Reserve to start cutting interest rates this year.

Australian and Japanese shares rose, while equity futures in Hong Kong pointed to an early gain.

US stocks slid on Thursday after the revised data showed the US economy grew less than previously expected in the first quarter.

Here's a table showing how US stocks performed on Thursday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	173.56	-3.84	-2.16%	176.69	173.23	179.95	115.83
Apple	191.29	1	0.53%	192.18	190.63	199.62	164.08
Meta	467.05	-7.31	-1.54%	471.73	464.71	531.49	258.45
Tesla	178.79	2.6	1.48%	182.67	175.38	299.29	138.8
Netflix	647.66	-6.96	-1.06%	656.49	644.73	664.25	344.73
Amazon	179.32	-2.7	-1.48%	181.34	178.36	191.7	118.35
Microsoft	414.67	-14.5	-3.38%	424.3	414.24	433.6	309.45
Dow Jones	38111.48	-330.06	-0.86%	38493.6	38000.96	40077.4	32327.2
Nasdaq	18538.66	-198.09	-1.06%	18705.26	18487.76	18907.54	14058.33

Source: Equitymaster

At present, the BSE Sensex is trading 510 points higher and NSE Nifty is trading 148 points lower.

Adani Enterprises, M&M and NTPC are among the top gainers today.

Infosys, Cipla and Bharti Airtel the other hand are among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets are trading on negative note. The BSE Midcap index ended flat and the BSE Smallcap index is trading 0.3% higher.

Sectoral indices are trading mixed, with socks in realty sector and power sector witnessed buying. Meanwhile the stocks in IT sector, and media sector witnessed selling pressure.

The rupee is trading at Rs 83.28 against the US dollar.

In commodity markets, gold prices are trading marginally lower at Rs 72,190 per 10 grams today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock market, Research Analyst, Richa Agarwal, in her latest video talks that While data is the new gold, the data center ecosystem could be the goldmine to strike it rich.

Tune in for list of stocks to ride this opportunity.

Bharat Dynamics Q4 Results

Defence public sector company Bharat Dynamics on Thursday reported an 89% year-on-year (YoY) jump in net profit at Rs 2.9 billion (bn) for the March 2024 quarter.

In the corresponding quarter of FY23, Bharat Dynamics posted a net profit of Rs 1.5 bn, the company said in a regulatory filing. Its revenue from operations increased 7% to Rs 8.5 bn against Rs 7.9 bn in the year-ago period.

At the operating level, EBITDA zoomed 72.6% to Rs 3.2 bn in the fourth quarter of this fiscal over Rs 1.8 bn in the corresponding period in the previous fiscal.

The EBITDA margin stood at 37.1% in the reporting quarter versus 23% in the fourth quarter of FY23. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The board has recommended a final dividend of Rs 0.9 per share (face value of Rs 5 each) for the year ending March 2024. This dividend, if approved by the shareholders at the coming annual general meeting, will be paid within 30 days of the AGM.

Bharat Dynamics is one of India's manufacturers of ammunition and missile systems.

The company was established in the year 1970 to be a manufacturing base for guided weapon systems.

MSCI Quarterly Rebalance

MSCI's quarterly rejig will come into effect following the market close on 31 May, leading to potential inflows of around US$ 2 billion (bn) into the Indian equity markets.

MSCI's quarterly rebalancing will lead to 13 new stocks being added to the MSCI Global Standard Index, while three stocks will be excluded.

Bosch, Canara Bank, Indus Towers, Jindal Stainless, JSW Energy, Mankind Pharma, NHPC, PB Fintech, Phoenix Mills, Solar Industries, Sundaram Finance, Thermax and Torrent Power are among the new stocks which will be added.

As a result, the MSCI index will include up to 146 Indian counters, compared to 136 names earlier. India's weight in the MSCI EM Index will rise to 18.8%.

On the other hand, Thermax is seen sitting on the borderline to receive an inclusion in the MSCI index, Nuvama believes. If its inclusion goes through, the stock can see inflows worth US$ 139 m.

Paytm, Indraprastha Gas, and Berger Paints are stocks that will be excluded. If it does happen, these stocks can see combined outflows of around US$ 283 m.

The MSCI Smallcap Index will also see changes, as a result of which, it will include 497 listed entities from India.

As for the MSCI Smallcap index, stocks such as Waaree Renewable, Vedant Fashions, Va Tech Wabag, RR Kabel, and Sanghvi Movers, among others are to receive an inclusion.

On the flip side, Tatva Chintan Pharma, Borosil, Sharda Cropchem, and Dreamfolks Services are to be excluded.

Beacon Trusteeship SME IPO

Beacon Trusteeship's initial public offering received an overwhelming response from investors as they bought 1.7 bn equity shares, which is 432.46 times higher than the offer size of 3.9 m shares on 30 May, the final day of bidding.

Non-institutional investors topped the list, buying 781.5 times the allotted quota, while retail investors were at the second spot, picking 502.2 times the portion set aside for them. Qualified institutional buyers booked 163.5 times the reserved portion.

Beacon is a debenture trustee offering trustee services in various segments such as Debenture Trustee, Security Trustee, Trustee to Alternate Investment Fund (AIF), Trustee to ESOP, Securitization Trustee, Bond Trusteeship, and Escrow Services.

The company launched its Rs 325.2 m public issue on 28 May, with a price band of Rs 57-60 per share. The IPO was a mix of a fresh issue of 3.9 m equity shares worth Rs 232.3 m at the upper price band and an offer-for-sale of 1.5 m shares worth Rs 92.9 m.

The Mumbai-based company, currently managed by a group of professionals, will finalise the basis of allotment of IPO shares by 31 May. Successful investors will receive equity shares in their demat accounts by 3 June.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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