Gift Nifty indicates a positive start for the Indian stock indices; The US markets ended mixed; The Asian markets traded also mixed tracking the Wall Street


The domestic equity indices, Sensex and Nifty 50, are expected to open higher on Tuesday amid mixed global cues.

Gift Nifty was trading around the 22,605 level, a premium of nearly 60 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.

The US stock market ended mixed on Monday with the Nasdaq closing at a record high led by a rally in technology stocks.
The Dow Jones Industrial Average declined 196.82 points, or 0.49%, to 39,806.77, while the S&P 500 gained 4.86 points, or 0.09%, to 5,308.13. The Nasdaq Composite ended 108.91 points, or 0.65%, higher at 16,794.87.

Asian markets traded mixed tracking a rally in technology stocks overnight on Wall Street.
Japan’s Nikkei 225 rose 0.35%, while South Korea’s Kospi declined 0.49%. Hong Kong’s Hang Seng index futures indicated a weak opening.


Phoenix Mills: The company reported a consolidated net profit of Rs 326.73 crore for the March quarter, as compared to Rs 254.08 crore in the same period of the previous year. Revenue surged 79.1 percent to Rs 1,305.95 crore for the quarter, up from Rs 729.04 crore in the March 2023 quarter.

Delhivery: Shares of Delhivery slumped 5 percent on May 18 after the company slipped into losses again in the March quarter (Q4FY24). The logistics solutions company posted a loss of Rs 68.5 crore as against a profit of Rs 11.7 crore in the December quarter. On a year-on-year (YoY) basis, however, the loss narrowed down 57 percent from Rs 159 crore posted in Q4FY23.

Bandhan Bank: Shares of Bandhan Bank rose 2 percent to Rs 185 per share on the May 18 special trading session after the company reported mixed January-March quarter (Q4FY24) performance. So far this year, the stock of this private sector lender declined more than 24 percent, underperforming the 3 percent rise in the benchmark Nifty 50 index. Earlier, Bandhan Bank shares hit a 52-week high of Rs 272 per share on June 1, 2023.

JSW Steel: JSW Steel disclosed a significant 64.5 percent year-on-year decrease in net profit to Rs 1,299 crore for the quarter ended March 31, 2024. This decline was attributed to higher coking coal prices and reduced realizations amidst a challenging domestic steel market. Revenue for Q4FY24 also witnessed a slight dip of 1.5 percent, totaling Rs 46,269 crore compared to Rs 46,962 crore in the previous fiscal period.

Astral: Shares of Astral fell up to 5 percent in the special trading session on May 18, a day after the company reported a 12 percent on-year drop in its net profit to Rs 181.6 crore for the January-March quarter FY24. The building materials and equipment firm’s revenue from operations, however, saw an 8 percent rise YoY to Rs 1,625 crore.

Nestle India: The majority of the shareholders of Nestle India have voted against the proposed increase in royalty payout to Swiss parent Nestle S.A., according to an exchange filing. The shares of the company inched higher in Saturday’s special trading session in reaction to the development. Shareholders with 57.18 percent of the company’s shareholding voted against the resolution, according to an exchange filing by the company.