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Kotak Alternate Asset Managers sees Nifty50 scaling up to 24,600 a year from now, its Chief Investment Strategist, Jitendra Gohil has said.

Axiscades Technologies Ltd’s subsidiary, Mistral Solutions, secured an order worth ₹90 crore from Bharat Electronics Limited for the design, development, and supply of eight Radar Processing Systems. The company said, these systems are intended for the Arudhra Medium Powered Radar (MPR), a 4D Radar capable of automatic detection, and tracking of various aerial targets.

Shyam Metalics and Energy Limited (SMEL), expanded its rail infrastructure at its integrated steel plant in Pandloi, near Rengali, Sambalpur district, Odisha. This initiative, is part of the company’s long-term strategy for sustainable growth and efficient operations.

NSE Nifty was up by 0.56 per cent or 127.60 points to 23,086.85, while the BSE Sensex was at 75,911 up by 0.66 per cent or 500 points.

Trading in cash equity segment of NSE and BSE have slowed down in the last two months, even as the markets are hitting a new high.

Foreign Portfolio Investors (FPIs), have shifted from heavy selling to increased buying of Indian equities, anticipating a clear BJP/NDA win in the general elections, analysts said.

Foreign investors have pulled out a massive ₹22,000 crore from Indian equities so far this month, due to uncertainty surrounding the outcome of the Lok Sabha elections, and outperformance of Chinese markets.

In a bid to improve liquidity in delivery-based commodity derivatives, market regulator SEBI has reduced the deliverable period to three days from five days.

NSE Nifty was down by 0.1 per cent or 22.25 points to 22,479, while the BSE Sensex was at 73,878 down by 0.17 per cent or 128.98 points.

Amid election outcome jitters, Foreign Portfolio Investors (FPIs) have turned even more aggressive in selling Indian equities with net outflows touching ₹28,242 crore this month as of May 17. FPIs had net sold equities worth ₹8,671 crore in April.