Latest Markets News Today Live Updates May 18, 2024: Oil records weekly gain after bullish US, China macro data raises demand; Brent nears $84/bbl, WTI up 2% in 5 days

• GLOBAL-OIL:Oil gains 1% on hopes of firmer demand

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• Dividend Stocks: Several companies including Tata Consumer Products, SBI, Sula Vineyards Ltd, among others are trading ex-dividend in the coming week.

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• FPIs offload ₹28,242 crore in Indian equities, continue selling streak since April: What’s fueling the outflow?

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• HDFC Securities initiated coverage on the healthcare stocks, with a ‘Buy’ rating on Apollo Hospitals Enterprise, given its steady growth and margin improvement and Medplus Health Services, given strong growth and margin improvement visibility.

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• Gold rate in the international market clocked second consecutive weekly gain on renewed hopes for US interest rate cuts and China’s stimulus measures. Silver price also broke the $30 barrier to hit an 11-year high.

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• IRFC share price rallied more than 17% in one week and over 22% in one month. The PSU stock has jumped over 74% year-to-date (YTD), while it has given multibagger returns of more than 410% in one year.

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• Domestic benchmark indices Sensex and Nifty 50 ended Saturday with gains, closing modestly higher in a special trading session amid positive global cues.

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• Go Digit IPO allotment to be finalised on May 21. Refund process starts on May 22. Listing date scheduled for May 23. Check status on Link Intime India Private Ltd website.

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• OYO set to refile IPO after refinancing to raise up to USD 450 million via dollar bonds. JP Morgan expected as lead banker at 9-10% interest rate. Parent company prepaid ₹1,620 crore debt, reducing outstanding loan balance to USD 450 million.

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• Nestle India’s motion called for the payment of general licence fees (royalty) to Societe des Produits Nestle S.A. to be increased to 5.25% of net sales, net of taxes, compared to the current level of 4.5%.

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• Breakout stocks today: Sumeet Bagadia has recommended five stocks to buy today — Crompton Greaves Consumer Electricals, Mazagon Dock Shipbuilders, Glaxosmithkliine Pharmaceuticals, Bharat Dynamics and RITES.

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• From top news to market performance, here’s the market wrap for the week ended May 17, 2024.

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• The legendary Indian banker N Vaghul passes away

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• Gold And Silver Prices Today:Gold And Silver Prices Today : 10 gm of 24 carat gold was at Rs.75731.0 in Delhi whereas 1 kg of silver was Rs.86460.0 in Delhi.

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• Balkrishna Industries stock price hits 52-week high with 5% upper circuit after strong Q4 results. PAT jumps 88% YoY to ₹481 crore. Sales rise 13% to ₹82,085 crore. EBITDA grows 42% YoY. Stock opens at ₹2,798.95 on BSE.

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• Zee Entertainment Enterprises reported a profit of ₹13 crore in the fourth quarter of FY24 as against a loss of ₹196 crore in the year-ago period. On a sequential basis, the company had posted a profit of ₹58.5 crore in Q3FY24.

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• Which value stocks are investors ignoring? Find out…

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• Stocks of Indian firms that earn a large chunk of their revenues from the nation’s hinterland are showing signs of a revival, as traders bet that bountiful monsoon rains will lead to better crop yields and boost rural demand.

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• Stocks to buy today: Expert has recommended buying these three stocks — Kotak Mahindra Bank Ltd, Reliance Industries Ltd (RIL), and ITC Ltd.

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• When there’s a lot of money sloshing around the economy, it’s easy for new ideas to attract speculative money—and some of those ideas are just dumb

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• Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Grasim Industries Ltd, Paras Defence and Space Technologies Ltd, and IRB Infrastructure Developers Ltd.

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• Nifty 50 on the weekly chart has bounced back sharply this week. After the formation of long bear candle in the last week, a formation of long bull candle from the lows signals a bullish Piercing line type candle pattern. One may expect further upside in the short term.

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• Indian stock market: Gift Nifty closed 0.20% higher at 22,551, a premium of nearly 50 points from the Nifty futures’ previous close.

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• Stocks in news: Nuvama analysis says Trent Ltd and Bharat Electronics could replace LTI Mindtree and Divi’s Labs in the Nifty50 by end of September

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• Indian stock market open on 18th May 2024: Special live trading session on BSE and NSE to test preparedness for disasters. Primary site to switch to Disaster Recovery site. Two trading phases from 9:15 IST to 10:00 IST and 11:30 IST to 12:30 IST.

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• This could replace LTI Mindtree and Divi’s Laboratories from the Nifty 50 in the bellwether index’s upcoming reconstitution in end-September

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