As the market trade sideways after absorbing the rate hike decision, we find that pharma stocks and oil & gas stocks are outperforming the markets.  

BSE Sensex tanked over 600 points while Nifty 50 is weak by almost 200 points on Tuesday. BSE Midcap index is down by more than a per cent in line with the key benchmark indices while BSE Small cap index plunged 0.70 per cent.  

The markets are attempting to trade in green in the first half of Wednesday’s trading session. The Asian markets are trading mixed while Dow Futures is trading with gains of over 140 points.  

On Monday, the markets are trading bullish after breaking several major resistance levels. The advance-decline ratio is clearly favouring the advances even as the broader markets continue to perform in line with the key benchmark indices.

A sea of green is being witnessed in the markets on Friday as Nifty attempted to get over the major resistance level of 16,400. The European markets are in green while Dow Jones Futures is trading with mild gains. 

On Thursday, the benchmark indices opened flat, tracking mixed global cues. At 11.40 am, Sensex was trading lower by 297 points or 0.55 per cent while Nifty plunged 110 points or 0.69 per cent. Speciality chemicals company- Aether Industries' initial public offering (IPO) had been subscribed 56 per cent by the morning of May 26, the third and final day of booking.  

After losing the momentum for the first two trading sessions in the current week, the benchmark indices opened higher on Wednesday. However soon, the benchmark indices erased most of the initial gains and were seen trading flat amid a volatile session.