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Sensex up 186 pts; Adani Ent spurts 6.31%

Published on May 31, 2024 13:41

The key equity indices traded with decent gains in afternoon trade. The Nifty traded above the 22,550 mark. Realty, metal and consumer durables shares advanced while healthcare, media and IT shares decline.

At 13:30 IST, the barometer index, the S&P BSE Sensex, was up 186.44 points or 0.25% to 74,073.03. The Nifty 50 index rose 64.20 points or 0.29% to 22,552.85.

In the broader market, the S&P BSE Mid-Cap index declined 0.15% and the S&P BSE Small-Cap index rose 0.45%.

The market breadth was negative. On the BSE, 1,699 shares rose and 2,051 shares fell. A total of 104 shares were unchanged.

Gainers & Losers:

Adani Enterprises (up 6.31%), Adani Ports and Special Economic Zone (up 3.61%), Shriram Finance (up 2.10%), Infosys (up 1.85%) and Tata Steel (up 1.80%) were major Nifty gainers.

Bharti Airtel (down 2.68%), HeroMotocorp (down 1.39%), LTIMindtree (down 1.24%), Eicher Motors (down 1.17%) and Sun Pharmaceutical Industries (down 1.11%) were major Nifty losers.

Stocks in Spotlight:

Mrs. Bectors Food Specialities rallied 4.14% after the company reported 21.6% rise in net profit to Rs 33.6 crore on a 17.4% increase in revenues to Rs 406.4 crore in Q4 FY24 as compared with Q4 FY23.

Bharat Dynamics slipped 1.28%. The missiles maker�s net profit soared 89.04% to Rs 288.78 crore in Q4 FY24 as against Rs 152.76 crore recorded in Q4 FY23. Revenue from operations stood at Rs 848.57 crore in the March quarter, up 6.5% from Rs 796.79 crore reported in Q4 FY23.

Apollo Hospitals Enterprise rose 0.84%. The company�s consoloidated net profit surged 75.64% to Rs 253.8 crore as compared to Rs 144.5 crore reported in Q4 FY23. Revenue from operations jumped 14.92% year on year to Rs 4,943.9 crore in the quarter ended 31 March 2024.

Swan Energy was locked in 5% lower circuit after the company reported a 10.55% decline in consolidated net profit to Rs 55.58 crore as compared to Rs 62.14 crore posted in Q4 FY23. Revenue from operations climbed 49.79% to Rs 1,397.90 crore in Q4 FY24 over Q4 FY23.

Global Markets:

Most of the European stocks advanced while Asian stocks traded mixed on Friday as investors awaited inflation readings from Europe and the U.S., which will likely dictate the path of interest rates globally.

China stocks rose, even though the nation`s manufacturing activity unexpectedly fell in May. This weak economic data fueled calls for additional government stimulus to counteract the ongoing property crisis, which is still impacting businesses, consumers, and investor confidence.

U.S. stocks fell further on Friday on concerns about a delayed interest rate cut. The Dow Jones Industrial Average dropped 0.86%, the Nasdaq Composite fell 1.0%, and the S&P 500 closed down 0.6%.

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