- Ahead of the long weekend holidays, the key Indian indices, the Sensex and Nifty, are trading steadily.
- In Indian markets, foreign portfolio investors kept selling and increased their short positions in index futures.
- Leading gainers on the NSE were M&M, JSW Steel, Grasim, Ultratech Cement, and Kotak Bank
Ahead of the long weekend holidays, the key Indian indices, the Sensex and Nifty, are trading steadily. Since local polling for the general election is scheduled to end on Monday, it is anticipated that market participation will remain low.
In Indian markets, foreign portfolio investors kept selling and increased their short positions in index futures. Despite closing down, the Dow Jones Industrial Average achieved 40,000 for the first time. Although there was optimistic momentum, analysts cautioned that a fresh upward trajectory would require the defense of critical supports.
Asian stocks
Leading gainers on the NSE were M&M, JSW Steel, Grasim, Ultratech Cement, and Kotak Bank; significant losses were TCS, Cipla, SBI Life, Hindustan Unilever, and Britannia. 152 equities on the BSE remained stable while 2,352 stocks increased against 1,416 that decreased. 3,920 shares were exchanged in total.
Mahatva Plastic Products And Building Materials Private Limited and Sintex-BAPL Limited have merged, according to a statement from Welspun Corp, following approval by the Ahmedabad Bench of NCLT. At ₹607 on the NSE, Welspun Corp’s stock is up 0.84%.
Concerning its manufacturing Unit II at Valthera, Gujarat, Concord Biotech announced that the Saudi Food and Drug Authority had concluded its inspection. The NSE’s upper circuit is where GPT Infraprojects’ stock is trading, up 4.99% at ₹245.15.
For the quarter ending in March 2024, the company declared a consolidated net profit of ₹16.18 crore, which represents a decrease from ₹10.40 crore during the same period the previous year. The National Highways Authority of India (NHAI) awarded Diplank an EPC Project under NHDP-IV, and as a result, the company obtained an arbitral award of ₹29.07 crore. DBL stock drops 1.20% on the NSE, closing at ₹440.70.
Prakash Industries’ shares rose 6.05% on the NSE after the company announced a ₹88.77 crore net profit for the quarter that concluded in March 2024. The share price of Info Edge (India) surges by 6.28% on the BSE, closing at ₹6,236.20.
An MOU for the forward and backward integration of the pure vegetable cattle feed business was inked by Ajooni Biotech Limited and Unati AgriAllied & Marketing Multi-state Cooperative Society Limited (UAMMCL). On the NSE, Ajooni Biotech’s stock increases by 2.33%.
For a period of five years, ending on May 14, 2029, Go Fashion (India) and Apparel Group have signed a franchise agreement for the Go Colors brand in the United Arab Emirates and Saudi Arabia. On the NSE, Go Fashion‘s stock rises by 0.95%.
Fin One is a digital-first campaign to transform financial literacy, established by financial brokerage Angel One. To help underprivileged women borrowers in India receive more microloans, IFC gave HDFC Bank a US$500 million extension. As of 1.10 pm, the Nifty 50 was up 63.85 points, or 0.28%, trading at 22,467.70.
