Gift Nifty indicates a gap-up start for the Indian stock indices; The US markets ended higher; The Asian markets traded also higher following the Wall Street


The domestic equity market is expected to open higher on Thursday tracking gains in global peers.

Gift Nifty was trading around the 22,385 level, a premium of nearly 100 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.

The US stock market ended higher with all three major indexes notching record closes on Wednesday after slower growth in inflation.

The Dow Jones Industrial Average rallied 349.89 points, or 0.88%, to 39,908.00 while the S&P 500 surged 61.47 points, or 1.17%, at 5,308.15. The Nasdaq Composite ended 231.21 points, or 1.40%, higher at 16,742.39, its second record close in as many days.

Asian markets traded higher on Thursday following a record close in Wall Street indices overnight and as investors assessed Japan’s GDP data.

Japan’s Nikkei 225 gained 0.9%, while the Topix rose 0.54%. South Korea’s Kospi rallied 1.49% and the Kosdaq jumped 1.3%. Hong Kong’s Hang Seng index futures indicated a muted opening.


Berger Paints: The company’s net profit jumped 19.7 percent to Rs 222.62 crore in the March quarter from the year-ago period, the company said on May 15. Sequentially, the profit was down 25.8 percent. The firm’s revenue rose marginally to Rs 2,520.28 crore in the March quarter. For the full year, the revenue was Rs 11,198.9 crore, up 6 percent from the previous year. The paint company also announced a dividend of Rs 3.5 per equity share.

Oberoi Realty: Shares of Oberoi Realty surged over 4 percent in trade on May 15 and scaled a new all-time peak of Rs 1629.05 apiece, a day after the company posted a stellar set of numbers for the March quarter. The Mumbai-based real estate developer’s net profit for Q4 FY24 soared 64 percent year-on-year to an all-time high of Rs 788 crore, led by robust demand and strong operational performance. Revenue grew by nearly 37 percent on year to Rs 1,315 crore for the quarter under review, up from Rs 1,082.85 crore in the year-ago period.

Mahindra & Mahindra: This company as one of India’s leading automobile companies, is expected to report muted Q4 financial results as the farm equipment business drags the overall revenue and profitability. The company’s fiscal fourth-quarter net profit is expected to rise to Rs 2,026 crore, up a mere 2.5 percent from the year-ago period, Revenue from operations is expected to rise just over 7 percent to Rs 24,182 crore from the same period last year. M&M will declare its results on May 16.

Bharti Hexacom: Shares of Bharti Hexacom rose nearly 6 percent on May 15 after the Bharti Airtel arm’s March quarter earnings prompted Jefferies to raise the target price on the stock. On May 14, Bharti Hexacom reported 10.2 percent year-on-year growth in net profit at Rs 222.6 crore for the January-March quarter on the back of strong operating margin performance, strong customer additions, and ARPU increase in mobile services.

Andhra Paper: Shares of the paper and pulp manufacturers dropped 2.4 percent to Rs 502.05 per share on the BSE on May 15. The fall came a day after the company announced its March quarter results for FY24 (Q4FY24), along with a stock split and dividend announcement.