Stock Market Highlights 14 May 2024: Sensex Gains 328 Points, Nifty Closes Above 22,200

Indian stock market

May 14, 2023

New Delhi, India

Market Recap: Sensex and Nifty End Higher

On May 14, 2024, the BSE Sensex gained 328.48 points, closing at 73,104.61, a rise of 0.45%. The NSE Nifty50 also climbed, closing at 22,217.85, up by 113.80 points, or 0.51%. This positive movement was largely driven by strong performances in the metal, auto, oil and gas, and PSU bank sectors​​.

Sectoral Performance

The majority of sectoral indices ended the day in the green. The Nifty Metal index saw a significant rise of 2.70%, closing at 9,340.75. However, FMCG stocks, along with the pharma and healthcare indices, slipped slightly​​.

Top Movers

Within the Nifty pack, the top gainers were:

  • Adani Enterprises: +5.40%
  • M&M: +4.01%
  • Hero MotoCorp: +3.37%
  • ONGC: +2.85%
  • L&T: +2.46%

On the flip side, the top losers included:

  • Cipla: -3.99%
  • TCS: -1.16%
  • Tata Consumer Products: -1.00%
  • Nestle India: -0.88%
  • Axis Bank: -0.79%

Also Read: Zomato Q4 Results: Company Posts Fourth Consecutive Quarter of Profit

Institutional Activity

Foreign institutional investors (FIIs) were net sellers, offloading ₹4,498.92 crore worth of shares. Meanwhile, domestic institutional investors (DIIs) were net buyers, investing ₹3,562.75 crore on May 13​.

Global Market Context

Global markets were mostly stable ahead of crucial U.S. inflation data. MSCI’s world share index remained flat, staying just 0.35% below its mid-March all-time high. European share benchmarks, along with U.S. S&P 500 futures, remained steady. Meanwhile, Japanese bonds faced pressure as the central bank reduced its bond-buying activities​.

Market Outlook

The positive closing of the Sensex and Nifty indicates a strong recovery from the day’s lows, suggesting potential bullish sentiment in the near term. Analysts will be closely watching the forthcoming inflation data and global market cues for further direction.

In summary, the Indian stock market ended on a positive note on May 14, driven by gains in key sectors and positive institutional activity from domestic investors. The market’s performance reflects cautious optimism amidst global economic data releases.

Rupee closed flat at: 83.511 up +0.005(+0.01%).

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