Stock market updates on May 30, 2024
Stock market updates on May 30, 2024:Sensex and Nifty: Both trade weak due to global cues and F&O expiry. BSE Sensex is down by 409.07 points at 74,093.83, while NSE Nifty dropped by 135.20 points to 22,569.50.
Stock market updates on May 30, 2024:Sensex and Nifty: Both trade weak due to global cues and F&O expiry. BSE Sensex is down by 409.07 points at 74,093.83, while NSE Nifty dropped by 135.20 points to 22,569.50.
Analysts predict heightened volatility with the settlement of May derivative contracts
Analysts predict heightened volatility with the settlement of May derivative contracts.Global Cues: In the Asia-Pacific region, equities are broadly down. Japan’s Nikkei leads the losses, tumbling over 2.2% in early Thursday trading.
This weakness in global cues is expected to continue.
This weakness in global cues is expected to continue, putting pressure on markets.Stock Movements:nIndegene stock trades lower by 2.35% on the NSE at ₹515.30
HCL Technologies launches
HCL Technologies resulting in a 1.10% stock decline on the NSE.Marksans Pharma reports ₹77.6 crore Q4 net profit, declaring a ₹0.60 dividend, causing an 11.59% stock drop.Brokerage Recommendations: Various brokerages provide recommendations on different stocks like Reliance Industries, Alkem Labs, Tata Steel, etc., with target price updates and performanTata Steel, etc., with target price updates and performancece analysis.These updates reflect the current trends and movements in the stock market as of May 30, 2024.will provide a more detailed and vivid summary of the stock market updates on May 30, 2024:Market Performance: The Indian benchmark indices, Sensex and Nifty, are trading weak primarily due to global cues and the expiry of monthly F&O contracts on the NSE. The BSE Sensex is currently down by 409.07 points at 74,093.83, while the NSE Nifty has dropped by 135.20 points to 22,569.50.
Analysts are foreseeing
heightened volatility with the settlement of May derivative contracts on the NSE. Global Impact the broader Asia-Pacific region, equities are experiencing a widespread downturn. Japan’s Nikkei index is leading the losses, plunging over 2.2% in early Thursday trading. This negative trend in global cues is expected to persist, exerting pressure on the markets in the near future.Specific Stock Movements:
Indegene
Indegene slides 2.35% on the NSE, currently trading at ₹515.30.HCL Technologies: HCL Technologies rolled out HCLTech AI Force on Google Cloud’s Gemini models. Following this, stock gains fell by 1.10% on the NSE.Marksans Pharma: The net profit for Q4 at Marksans Pharma stood at ₹77.6 crores with a ₹0.60 dividend, but the stock slid 11.59% .Brokerage Views Several brokerages have rolled out updated recommendations for various stocks. These go from merely maintaining ratings to adjusting target prices for companies like Reliance Industries, Alkem Labs, Tata Steel, and many more.These insights, given at length, will give a better understanding of the current dynamics of the market and the influencing factors affecting the stock movements on May 30, 2024
