Nifty Closed at Record High level

Indian equity indices closed at record high level on Thursday. Nifty opened at 22614.10 a gap up of 38.10 points from Wednesday’s close and made an intraday high of 22993.60 and closed at record level of 22967.65 up 369.85 points or 1.64%. Heavy-weight stocks like HDFC Bank, ICICI Bank, Reliance Industries, Larsen & Toubro, and Axis Bank contributed to the gains in the Nifty 50. While Sun Pharmaceutical, Powergrid Corp, Hindalco Industries, Coal India, and NTPC weighed on the index. The S&P BSE Sensex ended 1,196.98 points, or 1.61%, higher at 75,418.04, a record closing high.

The broader market underperformed the Market; The S&P BSE Mid-Cap index advanced by 0.58% while the S&P BSE Small-Cap index rose by 0.27%. On BSE, 2,010 stocks declined, 1,822 stocks advanced and 113 remained unchanged.

Among the sectoral indices, the Nifty Auto index (up 2.25%), the Nifty Bank index (up 2.06%) and the Nifty Private Bank (up 2.00%) outperformed the Nifty 50 index. Meanwhile, Nifty FMCG index (up by 0.26%), Nifty Healthcare index (down 0.79%) and the Nifty Pharma index (down 0.52%) weighed the Nifty 50 index.

DERIVATIVE PICKS

TOP DELIVERY PERCENTAGE

UPCOMING ECONOMIC DATA

NEWS UPDATES

•The Indian benchmark indices ended on positive note on May 22 with Nifty reclaiming 22,600 in a volatile session ahead of release of the Fed’s latest meeting minutes. At close, the Sensex was up 267.75 points or 0.36 percent at 74,221.06, while the Nifty was up 68.80 points or 0.31 percent at 22,597.80. Cipla, HUL, Tata Consumer Products, HUL, Coal India and Britannia Industries were among the major gainers on the Nifty, while losers included SBI, Hindalco Industries, Shriram Finance, Hero MotoCorp and Apollo Hospitals. •The Reserve Bank of India’s (RBI) Central Board of Directors has approved the transfer of Rs 2,10,874 crore as surplus to the government for the financial year 2023-24, the RBI said on May 22. •India’s largest domestic drug maker Sun Pharmaceutical Industries on Wednesday reported a 33.8 per cent rise in consolidated net profit at Rs 2,654.58 crore for the quarter ending on March 31 (Q4) for the financial year 2023-24 (FY24). During the same period last year, the pharma had reported a net profit of Rs 1,984.47 crore. The company’s total revenue from operations for the fourth quarter stood at Rs 11,982.9 crore, up 9.6% year-on-year (Y-o-Y) from Rs 10,930.67 crore. Source: Economic Times,  Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

CORPORATE ACTION

Company Name	Ex-Date	Purpose	Company Name	Ex-Date	Purpose
ABHISHEK	24-May-24	Resolution Plan -Suspension	PENINLAND	29-May-24	E.G.M.
BDL	24-May-24	Stock  Split From Rs.10/- to Rs.5/-	VIAANINDUS	29-May-24	Resolution Plan -Suspension
BIRET	24-May-24	Income Distribution RITES	AJANTPHARM	30-May-24	Buy Back of Shares
CUBEINVIT	24-May-24	Income Distribution (InvIT)	ASHIS	30-May-24	E.G.M.
GMBREW	24-May-24	Bonus issue 1:4	GPTINFRA	30-May-24	Interim Dividend – Rs. – 1.0000
INOXWIND	24-May-24	Bonus issue 3:1	LTFOODS	30-May-24	Interim Dividend – Rs. – 0.5000
ISCITRUST	24-May-24	InvIT – Return of Capital	ADVANIHOTR	31-May-24	Interim Dividend – Rs. – 0.8000
QGO	24-May-24	Interim Dividend – Rs. – 0.1500	ALICON	31-May-24	Interim Dividend – Rs. – 3.0000
SDBL	24-May-24	Stock  Split From Rs.5/- to Rs.2/-	ANZEN	31-May-24	Income Distribution (InvIT)
TATACONSUM	24-May-24	Final Dividend – Rs. – 7.7500	CAPLIPOINT	31-May-24	Interim Dividend – Rs. – 2.5000
VEDL	24-May-24	Interim Dividend – Rs. – 11.0000	DAVANGERE	31-May-24	Stock  Split From Rs.10/- to Rs.1/-
VSFPROJ	24-May-24	Right Issue of Equity Shares	GLAXO	31-May-24	Final Dividend – Rs. – 32.0000
DATAINFRA	27-May-24	Income Distribution (InvIT)	IEX	31-May-24	Final Dividend – Rs. – 1.5000
STOVACQ	27-May-24	Interim Dividend – Rs. – 115.0000	INFY	31-May-24	Special Dividend – Rs. – 8.0000
CMSINFO	28-May-24	Final Dividend – Rs. – 3.2500	INFY	31-May-24	Final Dividend – Rs. – 20.0000
TRIDENT	28-May-24	Interim Dividend – Rs. – 0.3600	JSWENERGY	31-May-24	Dividend – Rs. – 2.0000

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