Stock Market LIVE Updates: GIFT Nifty indicates a negative start; Asian markets weak, US closes mixed

The Indian rupee is expected to open flat-to-slightly weaker on Tuesday amid a decline in Asian peers and an uptick on the dollar index.

Non-deliverable forwards indicate rupee will open at 83.33-83.36 to the U.S. dollar compared with 83.3350 on Friday. Indian financial markets were closed on Monday.

Action in the primary market will continue in the current truncated week as well with only two companies – one from the mainboard segment and other from SME segment – will be coming out with initial public offerings during the week, while on the listing front, there will be total eight firms making their debut on the bourses. Read More

Aditya Birla Capital, Balrampur Chini Mills, Bandhan Bank, Biocon, Birlasoft, GMR Airports Infrastructure, Granules India, Hindustan Copper, Vodafone Idea, India Cements, Piramal Enterprises, SAIL, Zee Entertainment Enterprises.

The company will make its debut on the NSE Emerge on May 21. The final issue price has been fixed at Rs 147 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.

The trading in equity shares of the company will commence on the NSE Emerge, with effect from May 21. The issue price has been fixed at Rs 114 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.

#1 Ujjivan Small Finance Bank: Q4 profit up 6.5% at Rs 329.6 crore

#2 Trident: Q4 profit tanks 55% at Rs 59 crore Vs Rs 130.7 crore

#3 Anupam Rasayan: Q4 profit declines 45.5% to Rs 30.9 crore Vs Rs 56.7 crore

#4 Patel Engineering: Q4 consolidated profit spikes 83% to Rs 141 crore Vs Rs 77 crore

#5 India Cements: Q4 net loss narrows to Rs 29.3 crore Vs loss of Rs 217.8 crore

#6 ONGC: Q4 consolidated profit grows 3.8% to Rs 11,526.5 crore Vs Rs 11,104.5 crore

#7 Bharat Electronics: Q4 profit grows 30% to Rs 1,796.7 crore Vs Rs 1,382 crore

BHEL, Metropolis Healthcare, Aether Industries, Eris Lifesciences, GPT Healthcare, Greenply Industries, GSFC, IRCON International, JK Tyre & Industries, Laxmi Organic Industries, PI Industries, Ramco Systems, RateGain Travel Technologies, Religare Enterprises, Va Tech Wabag, and Welspun Enterprises will release March quarter earnings on May 21.

Oil and Natural Gas Corporation (ONGC) posted an increase of around 78 percent in consolidated net profit at Rs 11,526.53 crore in the fourth quarter of the financial year 2023-24, compared to Rs 6,478.23 crore in the same period last year.

Sequentially, ONGC’s consolidated net profit increased marginally in the quarter ended March 31, from Rs 11,104.50 crore posted in the previous quarter.

The state-owned oil and gas exploration major reported marginal increase in revenue from operations for the fourth quarter of the current fiscal year, amounting to Rs 1.66 lakh crore, compared to Rs 1.64 lakh crore recorded in the same period of the previous year.

The company’s board of directors recommended a final dividend of Rs 2.50 per equity share of face value of Rs 5 each for the financial year 2023-24, subject to the approval of shareholders. Read More

Institutional Investor (FII) shareholder is likely to sell stake worth Rs 425 crore in CG Power and Industrial Solutions Ltd on May 21 via block deal, sources told CNBC Awaaz on May 20.

The block deal is likely of 65 lakh shares for a deal size of Rs 425 crore. CG Power closed 5.3 percent higher at Rs 663.25 apiece on BSE on May 18 in special half-day trading session held.

The block deal is likely to happen in 2-3 percent discount to market price, sources added. Read More

Trends on GIFT Nifty indicate a weak start for the broader index in India, with a loss of 51.50 points or 0.23 percent. The Nifty futures were trading around 22,596.50 level.

A Foreign Institutional Investor (FII) shareholder is likely to sell stake worth Rs 270 crore in Indus Towers on May 21via block deal, sources told CNBC Awaaz on May 20.

The block deal is likely of 80 lakh shares for a deal size of Rs 270 crore. Indus Towers closed 1.11 percent higher at Rs 344.75 apiece on BSE on May 18 in special half-day trading session held. Read More

The dollar was firm on Tuesday while the yen struggled on the weaker side of the 156 level, though trade was mostly rangebound as investors generally stuck to their views of the expected timing and extent of Federal Reserve rate cuts this year.

Cryptocurrencies rallied, led by a surge in ether on growing anticipation of an impending approval of spot ether exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).

Against the yen, the dollar rose 0.07% to 156.37 in the early Asian session.

Oil prices fell in early Asian trade on Tuesday, with investors anticipating higher-for-longer U.S. inflation and interest rates will depress consumer and industrial demand.

Brent crude futures declined 12 cents, or 0.1%, to $83.34 a barrel by 0041 GMT. U.S. West Texas Intermediate crude (WTI) eased 8 cents, or 0.1%, to $79.72 a barrel.

Both benchmarks fell less than 1% on Monday as U.S. Federal Reserve officials said they were awaiting more signs of slowing inflation before considering interest rate cuts.