BSE Sensex ended the special session with the gain of 89 points to 74,005 and Nifty surged 35 points to 22,502. Nifty Bank rallied 83 points to 48,199 and Nifty Midcap surged 264 points to 51,869 on May 18. Nestle Shares witnessed rally of 2.33% to 2502.20 per share.
Shares of Hindustan Aeronautics Ltd hit fresh 52-week high today with the gain of 4.07%.
The Indian stock markets will remain open on Saturday, May 18, 2024. The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have planned a special trading session focusing on the equity and equity derivatives segments. This initiative aims to assess the exchanges' readiness in handling major disruptions, ensuring robust disaster preparedness. A similar special trading session was previously held on March 2, 2024.
This comes at a time when BSE-listed companies have added a staggering Rs 3 lakh crore to their market capitalization on Friday, bringing the total to a historic Rs 410 lakh crore. This surge underscores the rising investor confidence, even amidst ongoing uncertainties.
The market's positive momentum follows a week of cautious trading driven by concerns over the Lok Sabha election outcome. Despite earlier apprehensions due to low voter turnout, the Indian stock market has shown a strong recovery. This week, both the Sensex and the Nifty 50 rallied nearly 2%, marking their second consecutive session of gains after last week's losses.
The benchmarks have consistently closed in the green each day this week, except for a minor dip on Wednesday. The Sensex climbed by 1.7%, while the Nifty 50 rose by 1.9%. Additionally, the BSE Midcap and Smallcap indices outperformed the broader market, surging by 4.4% and 4.8% respectively. This broader rally highlights renewed investor optimism across various market segments.
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May 18, 2024, 12:26 pm IST
Gold Price India: Unprecedented Rally In Silver; 24K/100 Grams Gold Rises By Rs 8,700
Gold prices today witnessed rally in India. Silver prices today recorded sharp rally in the country to hit fresh all-time of Rs 93,000 per kg on sustained purchasing in industrial metal. 22K gold price today jumped by Rs 800 to Rs 68,400/10 grams and 100 grams of 22 carat yellow metal soared by Rs 8000 to Rs 6,84,000. 24K precious metal prices zoomed by Rs 870 to Rs 74,620/10 grams and 100 grams of 24 carat gold prices surged by Rs 8700 to Rs 7,46,200 on May 18.
On the other hand, 18k gold prices soared by Rs 650 to Rs 55,960/10 grams. 100 grams of 18 carat yellow metal prices rallied by Rs 6,500 to Rs 5,59,600 on Saturday.
According to Reuters, gold prices were on track for a second consecutive weekly gain amid improved interest rate cut expectations, providing support to silver which broke through the milestone and hit an 11-year high.
According to reports, rising demand for gold from China emerged as one of the key factors that led to the recent rally in yellow metal prices. The reports added that in 2022-2023, global central banks actively bought the yellow metal. Meanwhile, China's central bank, the biggest buyer, reduced its buying activity in April as spot gold prices soared to a record high of ,431.29.
May 18, 2024, 11:45 am IST
Derivative Outlook By Anand James, Chief Market Strategist, Geojit Financial Services
Nifty weekly contract has highest open interest at 23000 for Calls and 21500 for Puts while monthly contracts have highest open interest at 23000 for Calls and 21000 for Puts. Highest new OI addition was seen at 23000 for Calls and 21500 for Puts in weekly and at 23000 for Calls and 22500 for Puts in monthly contracts. FIIs increased their future index long position holdings by 10.77%, increased future index shorts by 1.16% and index options by 12.33% in Call longs, 13.36% in Call short, 12.47% in Put longs and 25.06% in Put shorts.
May 18, 2024, 11:11 am IST
Nifty Outlook By Anand James, Chief Market Strategist, Geojit Financial Services
With VIX easing, the prospects of 22720-850 have improved. Pull back below 22480 could ease the momentum, but an upside trajectory would be in play as long as 22417/400 holds. Slippage past the same could call for 22350-22227, but a collapse beyond the same is less likely.
May 18, 2024, 10:36 am IST
Balrampur Chini Mills Q4 Results
The revenue from operations for the quarter that ended in March 2024 was Rs. 1434.26 crores, down 3.8% from Rs. 1491.53 crores in the same period the previous year. EBITDA dropped by 14.6% to Rs. 344.72 crores for the quarter ending in March 2024 from Rs. 403.89 crores in the same period the previous year. Balrampur Chini Mills' net profit for the quarter ending March 2024 was Rs 203.39 crore, down 20.07% from the year-ago quarter's Rs 254.45 crore.
May 18, 2024, 10:05 am IST
Bank Nifty Outlook By Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
We expect the pullback to continue towards 48320 – 48700 from short term perspective. Hourly momentum indicator has a positive crossover which is a buy signal. The trailing stop-loss for the long positions should be kept at 47500.
May 18, 2024, 10:04 am IST
Nifty Outlook By Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
On the daily charts we can observe that the Nifty is steadily inching towards the 22570 – 22600 resistance zone. The daily momentum indicator has a positive crossover which is a buy signal and hence all the intraday dips / minor degree pullback towards the support zone 22350 – 22330 should be bought into. We should keep a stop-loss of 22200 for the long positions.
May 18, 2024, 9:48 am IST
JSW Steel Top Nifty 50 Loser After Q4 Earnings Report
Shares of JSW Steel dropped, making it the top loser on the Nifty 50, following the company's quarterly earnings report on Friday. The steel giant reported a 64.66% year-on-year decline in net profit, with earnings for the fourth quarter ending March 31, 2024, at ₹1,322 crore.
May 18, 2024, 9:19 am IST
Market Opens With Mild Gains In Special Trading Session
In today's special trading session, the Sensex opened flat, gaining 4.43 points (0.01%) to reach 73,921.46, while the Nifty rose by 46.70 points (0.21%) to surpass the 22,500 mark at 22,512.80.
May 18, 2024, 9:07 am IST
Dow Jones Closes Above 40,000 For The First Time
The Dow Jones Industrial Average has closed above the 40,000 mark for the first time in history. The S&P 500 also saw an increase, rising by 6.17 points (0.12%) to reach 5,303.27, while the Nasdaq Composite slightly declined, dropping 12.35 points (0.07%) to 16,685.97.
Earlier this week, data showed softening consumer prices in April, which has led to expectations that the U.S. central bank might implement two rate cuts this year, potentially starting in September. However, future rate cuts will depend on ongoing price pressures, and Federal Reserve officials have indicated that rate decreases may not happen soon.
For the week, the Dow rose by 1.2%, the S&P 500 climbed by 1.5%, and the Nasdaq advanced by 2.1%.
May 18, 2024, 9:05 am IST
Stocks to Watch: JSW Steel, Delhivery, IOC
JSW Steel, Delhivery, IOC, Bandhan Bank, and Zee are expected to be in the spotlight during today's special live trading session.
May 18, 2024, 8:48 am IST
Timings For Trading Session On Primary Site
The second part of the trading session will be on Disaster Recovery site:
Pre-Open open time: 11:15 hours
Pre-Open close time: 11:23 hours - Normal Market open time: 11:30 hours - Call Auction Illiquid session 2 open time: 11:45 hours - Call Auction Illiquid session 2 close time: 12:00 hours - Normal Market close time:12:30 hours - Closing Session open time: 12:40 hours - Closing Session close time: 12:50 hours - Trade Modification end time: 13:00 hours.
May 18, 2024, 8:46 am IST
Timings For Trading Session On Primary Site
Morning Block Deal Window Session-1 open time: 08:45 hours
Morning Block Deal Window Session-1 close time: 09:00 hours
Pre-Open open time: 09:00 hours
Pre-Open close time: 09:08 hours
Normal Market Open Time: 09:15 hours
Call Auction Illiquid session 1 open time: 09:30 hours
Call Auction Illiquid session 1 close time: 09:30 hours
Normal Market close time: 10:00 hours.
May 18, 2024, 8:46 am IST
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher
PICKS
BUY CIE INDIA cmp 501.65 Stop Loss 490 Target 522
BUY TEXRAIL cmp 193.15 Stop Loss 189 Target 203
BUY LEMON TREE cmp 144.85 Stop Loss 142 Target 152
Nifty Spot Index
Support – 22350
Resistance - 22600
Bank Nifty Spot Index
Support – 47800
Resistance – 48400
May 18, 2024, 8:36 am IST
GIFT Nifty Hints At Higher Start
GIFT Nifty indicates a positive start for domestic indices BSE Sensex and NSE Nifty 50 for special trading session
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