After making a cautious start amid mixed global cues, the Indian benchmark indices ended the day on a negative note with Nifty closing at 16,522 and Sensex ending at 55,381.

Reliance Brands Limited and Plastic Legno SPA have signed a joint venture arrangement through which RBL will acquire a 40 per cent stake in Plastic Legno SPA’s toy manufacturing business in India. This investment by RBL serves a dual purpose, bringing in vertical integration for RBL’s toy business and helping diversify the supply chain with a long-term strategic interest in building toy manufacturing in India.

On the last day of May 2022, Indian equity markets closed the trading session in negative territory. Financial and IT shares pulled the indices lower whereas gains in metal shares provided some support. Reality and media indices traded with positive momentum and banking and energy stocks witnessed profit booking at higher levels. 

The benchmark indices ended higher for the second consecutive day on the back of positive global cues. A lowering of FII selling made the domestic market comfortable in squeezing volatility. RBI’s upcoming policy meeting will be the key driver in the market, where they are expected to announce an additional policy rate hike of 25-35 bps.

The benchmark indices took a breather and broke the three-day losing streak to end in green with Nifty settling around the 16,200 level. At close, Sensex was up by 503.27 points or 0.94 per cent at 54,252.53 while Nifty was up by 144.40 points or 0.90 per cent at 16,170.20. About 1,712 shares have advanced, 1,509 shares declined, and 126 shares are unchanged. 

The cautious mood in the market was seen for the third straight session as investors were inclined toward selling their holdings in stocks, which are still highly valued. Investors are also eyeing US FOMC minutes, which are expected to throw some light on the market direction in the near term. 

Worries over slowing economy and rising interest rates supported by soaring inflation kept on haunting the global market. The benchmark indices ended lower in the volatile session with Nifty slipping below 16,150. 

On Monday, markets erased the gains in afternoon trade after not being able to recover post the export tax imposed on steel products. The benchmark indices ended marginally lower in the volatile session on Monday. 

Going ahead, the stock selection is going to be of paramount importance and hence, we have chalked down a list of stocks that are likely to outperform. 

After starting the week on a cheering note to falling in the middle of the week, the benchmark indices again rose on Friday to end the week higher. Following global cues, the Indian equity markets witnessed substantial volatility where Sensex 30 & Nifty 50 zoomed between 2 and 3 per cent.