First Trade: Indices open tad lower; Nifty holds on to 24,600 levels; Muthoot Finance down 5%
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04:10 PM IST
Indian equities in Thursday's trade (May 15) opened on a tepid note. At the opening, the indices opened lower, with the Nifty still holding on to 24,600 levels.
From the broader market pack, Nifty Midcap 100 and Nifty Smallcap 100 indices traded with gains, with the smallcap index leading the gains.
Within the Nifty50 pack, top gainers in the pack included stocks like JSW Steel, Hero MotoCorp, Eicher Motors, Tata Motors and Tech Mahindra, while laggards were Power Grid Corporartion, ONGC, Dr. Reddy's Labs, Sun Pharma and Kotak Mahindra Bank.
FIIs in the previous trade again bought into the Indian equities with the net buy at Rs 932 crore.
Sectoral performance:
In the pre-opening session, sentiment remained mixed, with the most gains seen in the consumer durables stocks.
Stocks in news today:
Results:
FNO: Crompton Gr Cons (post-market), NCC (Variable), Page Ind (12:30-2:30 pm), PB Fintech (Post-Market), Tube Invest (1-3 PM), CESC (Variable), LIC Hsg Fin (Variable), PATANJALI (Post-Market), JSW Energy (Post-Market).
Banking stocks: The third tranche of OMO operations to take place today.
Welspun Enterprises: Board Meet is scheduled for the entity to consider fundraise up to 1000 crore & dividend
Lloyds Engineering: The company's rights issue will open today with the issue price pegged at Rs 32. Right isssue subsribers will be able to get 9 shares for every 34 shares held.
Avantel: This is another defence company that it will open up its rights issue today.
BEML: The company will go ex-dividend for its Rs 1 per share dividend.
Asian markets
Most Asian markets retreated in early Thursday as investors turned to the sidelines following four days of gains amid US-China trade deal as well as hopes of strong AI demand. The key MSCI Asia ex Japan index traded higher by a tad.
The sentiment boosted by the US-China trade deal now seems to be fading, also investors are awaiting US deal with the rest of the Asian economies.
Meanwhile, investors' focus now shifts to earnings by Chinese internet major - Alibaba.
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