Nifty Hits 5-Month High; Nifty Small-Cap Records Best Day in Over 3 Years
The broader market indices outperformed, with the Nifty Small-cap index surging by 3.85 per cent, marking its best day in over three years.
As of 12:50 PM Market Update: The Nifty 50 index touched an intraday high of 24,800, marking its highest level in the last five months. ICICI Bank, Infosys, and HDFC Bank were the key contributors to the index rally on May 12.
All sectoral indices were trading in the green, with the Nifty IT and Nifty Metal indices up by 4.84 per cent and 4.73 per cent, respectively. The Nifty IT index registered its best performance in a single trading session since January 2024.
The broader market indices outperformed, with the Nifty Small-cap index surging by 3.85 per cent, marking its best day in over three years.
Market Update at 9:50 AM: After opening higher, Indian equity benchmark indices extended their gains, with the Nifty trading above the 24,600 mark, hitting a fresh high of over four months and logging its best single-day move since June 5, 2024, while the Nifty Bank surged past the 55,000 mark, up by 2.70 per cent.
Interestingly, the India VIX index cooled off significantly, dropping by 18 per cent to fall below the 18 mark. The decline in the volatility gauge could be attributed reports said that US announcing ‘substantial progress’ in tariff talks with China, as well as India and Pakistan jointly announcing a ceasefire on Saturday evening. However, reports of violations emerged thereafter, though no further action has been reported since.
All sectoral indices were trading in the green, except for Nifty Pharma, which was down by 1.64 per cent. Nifty Realty and Nifty Energy were the Top Gainers, advancing 3.94 per cent and 3.3 per cent, respectively.
The broader market indices outperformed the frontline gauge, with the Nifty Midcap and Small-Cap rising by 2.77 per cent and 3.17 per cent, respectively. Given this outperformance, the advance-decline ratio was firmly in favour of advances.
Disclaimer: The article is for informational purposes only and not investment advice.