Stock market LIVE updates on Tuesday, May 21, 2024: Indian stock markets are eyeing a positive start on the bourses on Tuesday, May 21. At 7:25 AM, GIFT Nifty was ruling 64 points higher at 22,608 level.
Volatility, however, may remain high as investors anticipate the Lok Sabha election results; India Inc enters the last leg of March quarter earnings; and foreign institutional investors (FIIs) adjust their positions in the Indian stock markets.
Global markets
Asia-Pacific markets started Tuesday mixed as tech shares pushed the Nasdaq Composite to record highs.
Nvidia shares gained more than 2 per cent overnight on multiple bullish analyst calls. With this, the tech-heavy Nasdaq gained 0.65 per cent to reach an all-time intraday high and close at a record level at 16,794.87.
The 30-stock Dow Jones, however, fell 0.49 per cent, while the broad market S&P 500 inched up 0.09 per cent.
In Asia, this morning, all but Japan’s Nikkei gave up morning gains. Hang Seng was down 2 per cent, Kospi 0.3 per cent, and ASX200 0.4 per cent. On the flipside, Nikkei was up 0.17 per cent.
Stocks to Watch on May 21, 2024:
Earnings today: BHEL, NMDC, Eris Lifesciences Ltd, Metropolis Health, JK Tyre, PI Industries, Hitachi Energy (Q1), GE T&D, Ircon, Maharashtra Seamless, Aether Industries, Sheela Foam, Galaxy Surfactants, Rategain, Laxmi Organic, Arvind Fashions, Gulf Oil Lubricants, VA Tech Wabag, Greenply, Dollar Industries, Fiem Industries, Mayur Uniquoters, Action Construction and Godawari Power are the companies scheduled to report their earnings on Tuesday, May 21, 2024.
Oil India: OIL’s Q4FY24 net profit rose 18 per cent year-on-year (Y-o-Y) to Rs 2,332.94 crore in Q4FY24 on the back of higher crude oil prices. The state-owned oil and gas producer’s Board has recommended issue of bonus shares in the ratio of 1:2.
Patel Engineering: It saw an 83 per cent Y-o-Y jump in Q4FY24 net profit at Rs 141 crore. The company’s revenue increased 11.5 per cent Y-o-Y to Rs 1,343 crore.