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Business News/ Markets / Live Blog/  Market Close Highlights: Benchmarks off record highs, Sensex closes at 75,390, Nifty at 22,930; Bank, FS, Realty gain
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Market Close Highlights: Benchmarks off record highs, Sensex closes at 75,390, Nifty at 22,930; Bank, FS, Realty gain

26 min read . Updated: 27 May 2024, 03:43 PM IST
Pranay Prakash

Market Close Highlights : Foreign institutional investors (FIIs) net sold ₹944.83 crore worth of shares, while domestic institutional investors (DIIs) pumped in ₹2,320.32 crore worth of shares on May 24, provisional data from the NSE showed.

Market Close Highlights : Companies reporting results on May 27 include LIC, NMDC, National Aluminium Company, Sumitomo Chemical India, NMDC Steel, Natco Pharma, AstraZeneca Pharma India, HBL Power Systems, Gujarat Mineral Development Corporation, Juniper Hotels, TVS Supply Chain Solutions, Borosil Renewables, Kirloskar Industries, IFB Industries, Dish TV India, Vishnu Prakash R Punglia, DCM Shriram, Motisons Jewellers, and Jubilant Industries among others. (Photo: AP)Premium
Market Close Highlights : Companies reporting results on May 27 include LIC, NMDC, National Aluminium Company, Sumitomo Chemical India, NMDC Steel, Natco Pharma, AstraZeneca Pharma India, HBL Power Systems, Gujarat Mineral Development Corporation, Juniper Hotels, TVS Supply Chain Solutions, Borosil Renewables, Kirloskar Industries, IFB Industries, Dish TV India, Vishnu Prakash R Punglia, DCM Shriram, Motisons Jewellers, and Jubilant Industries among others. (Photo: AP)

Market Close Highlights : European stocks were largely flat in a light trading day with markets in the UK and US closed for holidays.

The Stoxx 600 Index was little changed by 8:25 a.m. in London, with auto and energy stocks faring best, while technology shares were the biggest decliners.

Among individual movers, EFG International AG rallied 4.6%, following a Bloomberg news report after market close Friday that Julius Baer Group Ltd. is exploring a potential acquisition of its rival Swiss private bank. Julius Baer slipped 0.8%.

Europe’s better-than-feared earnings season has provided support for an historic stock rally, but investors’ focus may now shift to a still uncertain macro picture. The advance in equities also slowed as questions over the pace and size of interest rate cuts mounted, as the higher-for-longer narrative settles.

“Given the recent positive economic surprises in Europe and China, we remain positive on European equities, with relatively low positioning in Europe from international investors," said Ulrich Urbahn, head of multi-asset strategy and research at Berenberg.

Meanwhile, investors are keeping a close eye on comments from European Central Bank officials as they assess the prospects for monetary policy after a widely telegraphed start to easing at the next ECB meeting in June.

The time is right for an ECB rate cut next month, said Executive Board member Piero Cipollone. Chief Economist Philip Lane said separately that the central bank will still need to keep policy in restrictive territory through 2024.

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