Sensex and Nifty made a sharp recovery on Monday after witnessing declines in early trading session. Benchmark indices settled in green with minor gains. The optimism also came in after Home Minister Amit Shah reportedly said that he expects the domestic stock market to rise ahead of the elections.
"I can't anticipate stock market moves. But normally whenever a stable government is formed at Centre, the market sees a rally. I see 400-plus seat wins for the Bharatiya Janata Party [BJP], a stable Modi government coming, and thus market rising," Shah told NDTV.
On Monday, Sensex concluded the day at 72,776.13 level, up by nearly 111.66 points. Meanwhile, NSE Nifty was up by 48 points and ended the day at 22,104.05 level. Asian Paints, Axis Bank and TCS were among the top gainers.
"Sector-wise it was a mixed bag with buying seen in Metals, Realty, and Pharma. Nifty corrected by over 500 points in the last week because of nervousness among market participants due to the rising volatility index and consistent selling by FIIs. India Vix has been on a rising trend for 13 consecutive days and surged sharply by 100 per cent from 10 to 20 levels. Going ahead, markets would take cues from the voter’s turnout data from the 4th phase which has been a major concern so far," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Here are the key stocks to watch on May 14:
The shares of the company will be in focus on Tuesday as the telecom major will be announcing its results for the quarter ending March. Recently, the company struck a deal with the global Google Cloud to accelerate Gen AI adoption. “We are happy to partner with Google Cloud and jointly address this market opportunity with secure and scalable Cloud solutions for government, enterprises, and emerging businesses," the company stated in a press release.
The subsidiary firm under Patanjali Ayurved, will be releasing its Q4 results on Tuesday. The FMCG company was slapped with show cause notice last month by the DGCI (Directorate General of GST Intelligence). The parent company of the firm is also facing the Supreme Court's wrath for misleading advertisements of its products.
The share price of the drone manufacturing firm has been under pressure since last week. The company will be announcing its quarterly figures on Tuesday, where profit margins will be a major focus.
The shares of the food delivery platform hit a 52-week high at the Rs 207 price level before falling into negative territory. The company reported a straight fourth quarter of profit. On Monday evening, Zomato surrendered its payment aggregator and wallet license to the central bank.
Colgate Palmolive will be announcing its Q4FY24 results on Tuesday. The shares of the dental and personal hygiene manufacturer were up by 2.14 per cent on Monday. On an annual basis, the company's shares have yielded a return of more than 70 per cent on the NSE.
