THE NIFTY CLOSED LOWER AFTER FOUR DAYS OF SUCCESSIVE HIGHER CLOSES

NEWS UPDATES

• Benchmark indices ended lower on May 31 with Nifty around 18,550. At close, the Sensex was down 346.89 points or 0.55% at 62,622.24, and the Nifty was down 99.40 points or 0.53% at 18,534.40. About 1679 shares advanced, 1733 shares declined, and 133 shares unchanged.

• Analysts see 42% upside in Adani Ports but stock falls post Q4 results, CLSA has maintained its ‘buy’ rating on the Adani Group company and hiked its target price to Rs 878 from 792. Meanwhile, Nomura has also retained its ‘buy’ call on the stock with a target price of Rs 1,025..

• Welspun Corp shares up 5% despite muted profit in Q4; board recommends 100% dividend, The share touched a 52-week high of Rs 298.35 and a 52-week low of Rs 177.85 on September 22, 2022 and February 27, 2023, respectively.

• Suzlon Energy shares jump 9% after on the back of strong Q4 numbers, The wind energy solutions provider posted a consolidated net profit of Rs 320 crore for the quarter ended March quarter on the back of lower expenses.

Source: Economic Times,  Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint

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