Sensex climbs 1,300 points; metal shines on gaining over 7 per cent
Nifty Midcap and Smallcap ended with excellent gains of 2.51 per cent & 2.78 per cent, respectively.
Market Update at 3.30 PM: The market, at the end of the day, experienced an excellent bull run, especially because the European markets also opened on the higher side.
Nifty 50 and BSE Sensex closed above the levels of 16,200 & 54,300, respectively. Meanwhile, Nifty Midcap and Smallcap ended with excellent gains of 2.51 per cent & 2.78 per cent, respectively.
BSE Metal gained the most today i.e. over 7 per cent. Energy, telecom, and oil & gas also did well, gaining by more than 2 per cent each. Moreover, no sector closed in negative.
Hindalco Industries, Tata Steel, Coal India, JSW Steel, and ONGC emerged as the top gainers among Nifty stocks while there were no stocks that declined.
Market Update at 1.15 PM: The benchmark indices have gained more than 1.85 per cent each. Nifty is currently up by 305 points while Sensex has increased by over 994 points. Sensex Midcap and Smallcap have climbed 1.5 per cent & 1.7 per cent, respectively.
Around 2,461 stocks are advancing while 760 stocks are declining, which shows an indication of bullish sentiment in the market.
Factors like India's micro-economic data i.e. WPI data and no new COVID cases in China have pulled up the overall market.
Market Update at 11.45 AM: Nifty index cherished by gaining 1.80 per cent to trade at 16,131 levels. Likewise, Sensex shot up by 1.75 per cent and is trading at 53,942 levels. On Sensex, all sectors are trading in green. The top gaining indices are energy, oil & gas, and metal.
Both Nifty Midcap & Smallcap are trading higher by 86 and 58 points, respectively. Bank Nifty has also appreciated by 456 points and trades at 34,054 levels.
On Nifty 50 index, the top gainers include Hindalco Industries, Coal India, JSW Steel, and ONGC. On the other hand, the stock of Cipla, Tata Consumer, Power Grid Corporation of India, HDFC Life Insurance, and NTPC turned out to be the top losers.
Market update at 9.30 AM: The Indian benchmark indices have opened higher while Nifty is up by 0.63 per cent. Sensex has gained about 262 points while the mid-cap and small-cap indices have also inched higher by 0.42 per cent & 0.42 per cent, respectively.
On BSE, all the sectors are trading in the green except BSE Realty. Meanwhile, India VIX has lost over 3.98 per cent.
Tata Steel, Adani Power, and Uttam Sugar are currently the top gainers of Sensex.
LIC settles at Rs 872, down by 8.11 per cent in the pre-market hours against its issue price of 949 per share.
Pre-Market Update: The US market on Monday closed on the lower side as investors saw downbeat data from China amid worries over a global economic slowdown and lockdown in China. NASDAQ slipped 1.20 per cent whereas Dow Jones gained about 0.08 per cent. The Asian markets are showing mixed expressions.
On May 16, the FIIs sold to the tune of Rs 1,788.93 crore while the DIIs bought equity worth Rs 1,428.39 crore.
Today, the IPO of Paradeep Phosphates Ltd is set to open while Bharti Airtel and Indian Oil Corporation will declare their results. Besides, India’s WPI data will also release on Tuesday.
Brent crude has risen to 114.5 dollars per barrel as a result of rising inflation.
Meanwhile, SGX Nifty futures show a positive opening of indices.