Home » Market Spotlight » What happened in the Indian stock market today (15th May 2024)?

What happened in the Indian stock market today (15th May 2024)?

Sensex closed at 118 points, or 0.16% at 72,987.03, Nifty 50 at 17 points, or 0.08%, closing at 22,200.55.

Market News 15

Sensex closed to 118 points, or 0.16 percent, landing at 72,987.03, while the Nifty 50 ended at 17 points, or 0.08 percent, resting at 22,200.55. HDFC Bank, Tata Motors, and Reliance Industries leading the charge were in the red. As the midcap and smallcap indices strutted away with some healthy gains. The BSE Midcap index strutted off 0.60 percent higher, while the BSE Smallcap index proudly rose by 0.96 percent.

Impact on the stock market

Sector/IndexPerformance
IT & BPM sector-0.02%
Healthcare sector+0.26%
Oil & Gas sector+0.59%
Real estate sector+1.02%
PSU Bank in India+1.42%

Top gainers today

CompanyPriceChange (%)
Coal India share price467.85+4.27
Cipla share price1,406.70+3.64
BPCL share price625.05+3.15
Bharti Airtel share price1,309.90+1.99
Power Grid Corp share price314.851.81

Top losers today

CompanyPriceChange (%)
Asian Paints share price1,357.35-1.83
Tata Motors share price3,901.20-1.80
Bajaj Auto share price1,085.45-1.79
Eicher Motors share price 1,122.85-1.72
HDFC Bank share price1,438.50-1.54

Market aftermath: Impact on stocks

Siemens share price rises 8%, scales 52-week highs

Siemens shares saw a 8% surge, hitting the ceiling of 52-week highs after the grand unveiling of their March 2024 quarter results. Siemens reported a dropping 70.2% year-on-year rise in net profit, clocking in at ₹803 crore compared to ₹472 crore in the same quarter last year. Analysts are pointing fingers at the performance of margins, conducted by a symphony of improved revenue mix, sweet pricing gains. Siemens’ revenue is hitting ₹5750 crore during the March quarter, showcasing an impressive 18.38% year-on-year growth. And Ebitda, strutting in with a 41% year-on-year growth, swiping aside last year’s ₹621.2 crore to land at a whopping ₹878.2 crore. There’s been a bit of a slowdown in order inflows, down around 13% sequentially in Q2. But the general elections, causing a bit of a delay in order finalizations. 

Silkflex Polymers Listing: Stock makes decent market debut, lists at 15% premium at ₹60

Silkflex Polymers strutted onto the market stage today with an opening price of ₹60 a pop on the NSE SME platform. It soared even higher, hitting ₹63 right after its grand entrance, marking a 21.15% leap from its humble beginnings. This SME IPO, valued at a tidy ₹18.11 crore, The proceeds are slated for acquisitions and jazzing up its working capital, a strategic move for this company dealing in textile inks and wood coatings. This IPO was the talk of the town, whopping 39.30 times. With a market capitalization of ₹60.36 crore.

Thermax share price surges 14% to hit record high, up 144% in 1 year

Thermax shares are hitting a stratospheric ₹5,347.15, a dropping surge of 144% in just a year. Thermax shares shot up a whopping 14% in early trade on BSE, this stock has been the belle of the ball for days, with investors for a piece of the action. Thermax’s March quarter results had investors doing cartwheels with increase of 19.6% and profits soaring by 22.01% year-on-year. Thermax has been hitting lows last year from ₹2,192.70 to ₹5,347.15.

Oil prices fluctuate amid mixed market responses

The crude oil market hit a high of $77.64 and climbed to $79.60 before taking a breather. Despite its bullish streak, there are some conflicting forces at play, between bulls and bears. The sideways action between the $77.64 support and the $79.60.Breaking through that support could send the price tumbling down to $75.25. On the flip side, if it manages to breach that resistance, with $81.50 in sight for intraday and short-term traders. The American Petroleum Institute (API) have revealed a dropping 3.104 million barrel drop in crude inventories.

Conclusion

The Indian stock market showcased a mixed bag of performances with the Sensex and Nifty 50 experiencing slight decline, while mid and smallcap indices boasted healthy gains. Like HDFC Bank, Tata Motors, and Reliance Industries dipping, sectors like real estate and PSU banks displayed notable upticks. In individual stocks, Coal India, Cipla, BPCL, Bharti Airtel, and Power Grid Corp emerged as the top gainers, while Asian Paints, Tata Motors, Bajaj Auto, Eicher Motors, and HDFC Bank faced losses.

Notably, Siemens shares surged 8%, hitting 52-week highs post their stellar March 2024 quarter results, exhibiting remarkable growth in net profit and revenue. Silkflex Polymers made a commendable market debut, listing at a 15% premium and gaining momentum thereafter. Thermax shares also shined, surging 14% to hit a record high, marking a staggering 144% increase over the past year. Meanwhile, the crude oil market experienced fluctuations, with prices oscillating between $77.64 and $79.60 amidst conflicting market sentiments. Despite an initial surge, the market faced uncertainty due to conflicting factors between bullish and bearish forces.
Stay tuned on StockGro for more updates on market trends.

Enjoyed reading this? Share it with your friends.

StockGro Team

StockGro is India’s first and largest ‘Social Investment’ platform aimed at helping you master the art of “Trading & Investment”. Trade, Invest and get rewarded to Learn everything about ‘Investments’ the fun-filled way.

Post navigation

Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *