Thursday, 30 May 2024
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Stock Market

Volatility in Sensex and Nifty trading

  • The Nifty 50 and BSE Sensex both saw volatility on Thursday.
  • The Nifty 50 dropped 37.85 points while the Sensex fell 88.68 points.
  • Consolidated PAT for Mahindra & Mahindra Ltd. increased by 25% to ₹11,269 crore in FY24.

The Nifty 50 and BSE Sensex both saw volatility on Thursday. The Nifty 50 dropped 37.85 points, or 0.17%, to 22,162.70, while the Sensex fell 88.68 points, or 0.12%, to 72,898.35. Following a two-day retreat recovery, the market is stabilizing around the 50-day and 20-day SMA levels.

According to Kotak Securities Head of Equity Research Shrikant Chouhan, the 50-day SMA will serve as an instant breakout milestone, and if it breaks above 22,300, it may rise to 22,400–22,450/73,500–73,600. Selling pressure, however, might intensify below 22,150/72,800, potentially leading to a retesting of 22,050-22,000/72,500-72,300 levels.

Sensex and Nifty

Consolidated PAT for Mahindra & Mahindra Ltd. increased by 25% to ₹11,269 crore in FY24. The corporation announced a 30% increase in dividends, totaling ₹21.10 per share. On the BSE, the stocks are up 0.58% at ₹2,315 as of right now.

Sectoral indices saw mixed trading; at 12:37 p.m., Nifty realty increased 1.27% to trade at 977.25. Nifty Bank was down by 0.26 percent to finish at 47,565.20, while Nifty PSU Bank fell 1.29 percent to trade at 7,068.05.

On the NSE, Bharti Airtel (1.93%), Tata Consumer Products (0.80%), Tech Mahindra (1.53%), LTIMindtree (1.21%), and Infosys (1.17%) were the top gainers. Leading decliners were Tata Motos (-1.89%), Power Grid (-1.81%), SBI (-1.44%), Bajaj Auto (-1.37%), Maruti (-2.59%), and Power Grid (-1.81%).

A partnership was formed between Google and Aurionpro Transit, a subsidiary of Aurionpro Solutions Ltd, to integrate Google Wallet with its ORS and app-based ticketing service. A worker under the ESOP 2016 plan was given 7,500 stock options by Mphasis Limited.

The options vest over five years and can be exercised within sixty months of the date of vesting. A net profit of ₹93.37 crore and an EBITDA of ₹134.33 crore were the financial results for Lincoln Pharmaceuticals Ltd. in FY 2023–2024 that were published.

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