May 15, 2023
New Delhi, India
Sensex and Nifty Performance:
The Indian stock market experienced a day of mixed trading, with the Sensex closing 118 points lower and the Nifty managing to hold the crucial 22,200 mark. The BSE MidCap index ended up 0.6%, while the Smallcap index gained 1%.
Both the indices Sensex and Nifty closed at 72,987.03 down −117.58
Sectoral Performance:
Nifty PSU Bank Index led the gainers, rising by 1.4%, followed by Nifty Realty and oil & gas sectors, both up 1%. However, Nifty FMCG Index was the top loser, down by 1%, accompanied by Nifty auto down 0.5%. Both Nifty Bank and Nifty Private Bank indices slipped 0.3% each.
Eye on Earnings:
Several companies, including PFC, Mankind Pharma, RVNL, Dixon, and Titagarh, announced their Q4 earnings today. Despite the positive opening, frontline indices eroded gains to close in the red. BSE Sensex settled 117.58 points lower at 72,987.03, while Nifty closed 17.30 points higher at 22,200.55.
Market Highlights:
Among the Sensex gainers were Bharti Airtel, ITC, Reliance Industries, Power Grid, and Tata Steel. On the other hand, HUL, HDFC Bank, JSW Steel, and UltraTech Cement were among the laggards. Sectoral indices such as pharma, PSU Bank, energy, and infrastructure settled in the green, while auto, IT, FMCG, and service sectors traded in the red.
Global Market Influence:
Global equities showed a positive trend, with European stocks gaining and US equity futures remaining steady. The MSCI All Country World Index extended its longest run of gains since January. Market sentiment remained optimistic ahead of the key US inflation report, with expectations that it wouldn’t undermine the case for Federal Reserve interest-rate adjustments.
Conclusion:
The Indian stock market witnessed mixed trading, with marginal losses in major indices. While sectoral indices showed varied performances, global market trends remained positive, buoyed by optimism surrounding the upcoming US inflation report.
Disclaimer:
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