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Closing Bell: Nifty ends above 15,300, Sensex gains 378 pts led by IT, realty stocks –

May 26, 2021 / 07:38 AM IST

Follow our LIVE blog for the latest updates on the novel coronavirus pandemic and its impact

May 26, 2021 / 03:41 PM IST

Vinod Nair, Head of Research at Geojit Financial Services.

Domestic markets started cautiously positive and witnessed a strong rebound as it gained momentum from expectations of another set of relief measures. The new stimulus package is expected to focus on boosting the worst-hit sectors like tourism, aviation and hospitality along with MSMEs. Value buying was seen in the IT sector while Metals stocks remained in the correction phase due to muted international commodity prices.

May 26, 2021 / 03:35 PM IST

Market Close: Benchmark indices rose 0.5 percent and ended near the day’s high levels amid buying seen in the IT and realty stocks.

At close, the Sensex was up 379.99 points or 0.75% at 51,017.52, and the Nifty was up 93.00 points or 0.61% at 15,301.50. About 1913 shares have advanced, 1146 shares declined, and 140 shares are unchanged.

Bajaj Finserv, Infosys, Bajaj Finance, Grasim Industries and UPL were among the top gainers on the Nifty, while losers included Power Grid Corp, JSW Steel, Hindalco Industries, Tata Steel and NTPC.

Among sectors, energy and metal indices shed 1-2 percent, while IT, realty indices rose 2 percent each. BSE Midcap index ended flat, while smallcap index rose 0.7 percent.

May 26, 2021 / 03:23 PM IST

ICICI Direct on Mahanagar Gas:

The government’s priority allocation of domestic gas to the CGD sector has enabled MGL to access cheaper gas for CNG and domestic business segments (~85% of sales mix). MGL’s strong gas pipeline infrastructure and expanding operations in Mumbai, its adjoining areas and Raigad district will enable the company to capture the benefits of the large and growing market given the low penetration. 

We maintain buy recommendation with an unchanged target price of Rs 1340/share (13x FY23E EPS). 

May 26, 2021 / 03:18 PM IST

J Kumar Infra Q4:

The company has posted 5.1 percent jump in its Q4 net profit at Rs 32.7 crore against Rs 31.1 crore and revenue was up 13% at Rs 992 crore versus Rs 877.8 crore (YoY), reported CNBC-TV18.    

J Kumar Infraprojects was quoting at Rs 179.50, down Rs 11.50, or 6.02 percent on the BSE.

May 26, 2021 / 03:16 PM IST

Berger Paints Q4

The company has reported net profit at Rs 208.6 crore versus Rs 103.2 crore and revenue was up 49.5% at Rs 2,026.1 crore versus Rs 1,354.8 crore (YoY) , reported CNBC-TV18.

Berger Paints India touched a 52-week high of Rs 842.55 and was quoting at Rs 832.25, up Rs 12.65, or 1.54 percent on the BSE.

May 26, 2021 / 03:13 PM IST

Divis Lab authorised manufacturer of Molnupiravir API:

Divis Laboratories is MSD’s Authorized manufacturer for Molnupiravir API and allowed to supply this API to MSD’s VL partners in India, as per the company’s release. 

Divis Laboratories was quoting at Rs 4,098.00, down Rs 1.60, or 0.04 percent on the BSE.

May 26, 2021 / 03:10 PM IST

Alembic Pharmaceuticals receives Indian regulator nod:

Alembic Pharmaceuticals has received license to manufacture Liposomal Amphotericin B Injection 50 mgNial (Lyophilized) from Drugs Controller General of India and Food & Drug Control Authority, Gujaratm, company said in its release.

Alembic Pharmaceuticals was quoting at Rs 952.00, down Rs 2.35, or 0.25 percent on the BSE.

May 26, 2021 / 03:08 PM IST

Bitcoin reclaims $40,000:

Bitcoin climbed back above $40,000 on Wednesday for the first time this week, as recent volatility in the cryptocurrency market showed few signs of dampening down.

Bitcoin jumped as much as 6.5% to $40,904. Smaller coins, which tend to rise and fall with the largest cryptocurrency, also gained, with ether climbing over 7.5% to over $2,906.

May 26, 2021 / 03:05 PM IST

D-Street Buzz: IT Stocks Edge Higher Led By Coforge, Wipro; HDFC Securities Bets On Infosys, HCL Tech, Mphasis

D-Street Buzz: IT Stocks Edge Higher Led By Coforge, Wipro; HDFC Securities Bets On Infosys, HCL Tech, Mphasis

HDFC Securities has downgraded Tata Elxsi and Persistent Systems to “add” from “buy” but remains constructive on the sector.

May 26, 2021 / 03:02 PM IST

Nish Bhatt, Founder & CEO, Millwood Kane International:

Gold prices have been steadily rising in the past few sessions tracking international gold futures prices. The rally in the yellow metal continued past Rs 49,000/10gm earlier today to make a 4-month high.

The rise in the yellow metal has been on account of the fall in US Treasury yields, softer US dollar which pushes up the gold prices. The commentary by the US Fed on rising inflation has also helped gold prices. The dollar index is currently over a 4-month low. The current scenario combined with the rising number of cases due to the second wave will lead to investors turning to a safe haven and help further rally in gold prices.

May 26, 2021 / 02:57 PM IST

Abhishek Bansal, Founder Chairman, Abans Group:

Gold rallied to a multi-month high as weakness continues in the dollar index. Additionally, gold prices also found support from weakness in global bond yields which are not able to sustain recent recovery

Gold prices are likely to find support from dollar weakness and it may trade firm while above key support of $1881 – $1863. It may face resistance around $1918 and $1936.