The BSE Sensex settled 37.78 points or 0.07% lower at
54,288.61. During the day, it touched a high of 54,931.30 and a low of
54,191.55. The broader NSE Nifty fell 51.45 points or 0.32% to close at
16,214.70.

The broader indices ended in red with the BSE Midcap
index was down by 0.26%, while the Small cap index down by 0.64%.

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Here are the key stocks that moved the most on May 23:

Metal Stocks: The S&P BSE Metal index fell the most
among the sectoral indices on the BSE, down 8.33%. Shares of Jindal Steel, JSW
Steel, Tata Steel, Welspun Corp, SAIL, and NDMC ended 8-17% down after the
government of India imposed a 15% export duty on steel.

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One97 Communications (Paytm): The share closed 7.38%
higher at Rs 618.00 after falling 4% intraday. The stock started the day lower
as the company’s net loss for the March quarter widened to Rs 762.5 crore from
a loss of Rs 444.4 crore in the corresponding quarter of the previous fiscal.
The reappointment of Vijay Shekhar Sharma as Managing Director and CEO for five
years and a couple of other factors led the fintech services firm’s stock to
settle higher.

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Indiabulls Housing Finance: The share price declined
2.91% to close at Rs 116.85 after the firm’s revenue from operations declined
by 7.7% to Rs 2,189.31 crore against Rs 2,371.71 crore reported in the same
quarter of the previous year ago Loan book fell by 7.4% to Rs 59,333 crore in
the fourth quarter of fiscal 2022 from Rs 64,062 crore in the year-ago period.
Gross NPAs stood at 3.21% as of March 31, 2022, compared with 2.66% as of March
31, 2021. Net NPAs were at 1.89% as of March 31, 2022, compared to 1.59% a year
ago.

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Jet Airways: The stock surged 4.98% to close at Rs 119.20
after the firm said received an air operator certificate from the Directorate
General of Civil Aviation to restart commercial flight operations. Jet Airways
is planning to recommence operation in the July-September quarter. Aircraft and
fleet plan, network and other details will be available in phases over the
coming weeks.

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Ashok Leyland: The stock price gained 4.18% to close at
Rs 135.80 after the brokerages raised the target of the stock post-Q4 result.
Hinduja Group’s flagship Ashok Leyland reported a 274% year-on-year (YoY) jump
in net profit at Rs 901.4 crore for the fourth quarter of fiscal 2022. Total
income came in at Rs 8,744.3 crore during the March quarter, up 24.9% against
Rs 7,000.5 crore in the corresponding quarter of the previous fiscal. Nomura
has maintained the buy rating on the stock and raised the target price to Rs
169 per share. Credit Suisse has kept an outperform rating on the stock and
raised the target price to Rs 169 per share. Jefferies has also maintained a
buy rating on the stock and raised the target price to Rs 160 from Rs 130 per
share.