Sensex rallies 623 pts, Nifty settles at 11,844; ICICI Bank gains 5%

Market close: Indian indices ended near day's high level on May 24 after BJP led NDA government got clear mandate in the Lok Sabha Election 2019.

At close, the Sensex was up 623.33 points at 39434.72, while Nifty was up 187.10 points at 11844.10. About 1823 shares have advanced, 676 shares declined, and 150 shares are unchanged.

ICICI Bank, Zee Entertainment, Vedanta, Tata Steel and Bharti Airtel were among major gainers in the Nifty, while Tech Mahindra, NTPC, ONGC, TCS and HCL Tech were some of the losers.

All the sectoral indices ended in the green led by BSE PSU Bank (up 5.5%) followed by auto, metal and infra gained more than 2 percent.

Comments

Post a Comment

Popular posts from this blog

A morning walk down Dalal Street

Image
technically, the Nifty50 made a fresh record closing high but it reversed gains around 11,958 on that was similar to intraday high of 11,957 on May 27. The rupee May 28 declined by 18 paise to close at 69.69 against the US currency, weighed down by month-end dollar demand from importers and rising crude oil prices. On the institutional front, FPIs were net sellers in Indian markets for Rs 501 crore while DIIs were net buyers to the tune of Rs 269 crore, provisional data showed. Big News: On the earnings front, as many as 617 stocks will declare their results for the quarter ended March which include names like Aban Offshore, Adani Power, Bharat Electronics, Cadila Healthcare, Finolex Cables, GMR Infrastructure, Havells India, IDFC Ltd, IPCA Laboratories, Max India, NBCC etc. among others.   https://www.capitalaim.com/trading/stock-tips  
Read more

Nifty likely to show upmove towards 12,300-12,500 in the coming weeks

Image
Macro data will be in focus… GDP as well as Infrastructure output data for April is scheduled to come out post market hours later today Most experts feel that there is a high likelihood that the GDP growth could have slipped below 7 percent. A Reuters survey of economists forecast growth slipped to 6.3 percent annually in the three months ending in March, its slowest pace in six quarters. The central bank’s monetary policy committee (MPC), which has cut policy rates by 50 basis points this year, is expected to cut the repo rate by a further 25 basis points at its June 4-6 meeting, bringing it to 5.75%, the lowest since July 2010, added the Reuters report. https://www.capitalaim.com/trading/stock-tips
Read more

Nifty stocks trade at a discount to respective 10-year average P/Es

Image
Nifty50 rallied to a fresh record high of 11,856 in April but since then the momentum has fizzled out. The index is down about 3 percent from las month's high and it has also breached its crucial short-term moving averages at 5-days exponential moving average (EMA), 13, 20 and 50-days EMA in May. A large part of the fall can be attributed to selling seen in the largecap stocks and about 25 such companies, or 50 percent, of the Nifty50 constituents are trading below their respective 10-year PE averages. PE multiple, or price-to-earnings ratio, is a valuation metric which measures the current stock price relative to the company's earnings. It is also sometimes referred to as earnings multiple. As many as 25 companies in the Nifty50 basket are trading below their respective 10-year average earnings multiple. These include Eicher Motors, Hero MotoCorp, L&T, Axis Bank, Yes Bank, SBI, NTPC and Power Grid, according to a report by Motilal Oswal. https://www.capitalaim.co...
Read more