The key equity benchmarks ended with limited gains in the special trading session on Saturday. The Nifty settled above the 22,500 level. All the sectoral indices on the NSE were traded in green. As per the provisional closing data, the barometer index, the S&P BSE Sensex advanced 88.91 points or 0.12% to 74,005.94. The Nifty 50 index added 40.65 points or 0.18% to 22,506.75.
The National Stock Exchange and Bombay Stock Exchange held a special live trading session today, 18 May 2024, in the equity and equity derivative segments with an intra-day switchover from the Primary site to the Disaster Recovery site. The special session was divided into two parts ? the first session began at 9:15 am and concluded at 10 am, followed by another session started at 11:30 am and ended at 12:30 pm.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.48% while the S&P BSE Small-Cap index gained 0.77%.
The market breadth was strong. On the BSE, 2,465 shares rose and 1,021 shares fell. A total of 137 shares were unchanged.
Buzzing Index:
The Nifty Media index advanced 1.31% to 1,835.60. The index jumped 3.56% in the past two trading session.
Zee Entertainment Enterprises (up 4.04%), Dish TV India (up 1.22%), Nazara Technologies (up 0.53%), Hathway Cable & Datacom (up 0.47%) and Network 18 Media & Investments (up 0.31%), TV18 Broadcast (up 0.23%), Sun TV Network (up 0.15%) and PVR Inox (up 0.04%) advanced.
Stocks in spotlight:
Zydus Lifesciences hit an upper circuit of 5% after the pharma major reported consolidated net profit of Rs 1,182.3 crore in Q4 FY24 steeply higher than Rs 296.6 crore recorded in Q4 FY23. Revenue from operations jumped 10.44% to Rs 5,533.8 crore during the quarter as compared with Rs 5,010.6 crore posted in corresponding quarter last year.
Rail Vikas Nigam (RVNL) rallied 3.22% after the company reported 33.16% increase in consolidated net profit to Rs 478.40 crore in Q4 FY24 as compared with Rs 359.25 crore in Q4 FY23. Revenue from operations jumped 17.38% year on year (YoY) to Rs 6,714.01 crore in the fourth quarter of FY24.
Bandhan Bank rose 0.94%. The bank's net profit tumbled 93.24% to Rs 54.62 crore in Q4 FY24 as compared to Rs 808.29 crore recorded in Q4 FY23. However total income grew by 20.13% to Rs 5,883.46 crore in the fourth quarter of FY24 from Rs 4,897.39 crore posted in Q4 FY23.
Go Fashion (India) rose 1.28% after the company said that it has entered into a new five-year franchise agreement with Apparel Group, a leader in global fashion and lifestyle retail.
Global market:
US equities on Friday gained, with the Dow Jones closing above the historic 40,000-level for the first time ever. The Dow Jones Industrial Average climbed 0.34% to settle at an impressive 40,003.59. While the broader S&P 500 managed a modest gain of 0.1%, the tech-heavy Nasdaq Composite ended the day flat with a slight downward tilt. These positive market movements likely stem from a combination of strong corporate earnings reports and economic data that has fueled investor optimism about potential Federal Reserve interest rate reductions later this year.
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