Market Hits Fresh All-Time High as the largest Nifty gainers were Adani Enterprises, Adani Ports, Axis Bank, L&T, and M&M, while the largest losses were Sun Pharma, Power Grid Corp, Hindalco, Coal India, and NTPC.
Bulls boosted indices on Dalal Street, with Nifty closes below 23,000 mark, buying across sectors except metal and pharma. Sensex and Nifty up 1.61 percent.
Indian indices opened flat, but geared up, reaching record highs and closing at 52,418.55, up 0.48 percent. Biggest Nifty gainers included Adani Enterprises, Adani Ports, Axis Bank, L&T, M&M, while losing were Sun Pharma, Power Grid Corp, Hindalco, Coal India.
Sectors and stocks
BSE Midcap and Smallcap indexes rose 0.5% and 0.3% respectively, while auto, bank, and capital goods indices saw 2% increases. Stocks like GMR Airports Infrastructure and Jubilant FoodWorks experienced significant volume spikes.
Over 200 stocks reached 52-week highs on the BSE, with long build-ups in Adani Enterprises, Adani Ports, Voltas, and short build-ups in Deepak Nitrite, Lupin, and Vedanta.
May 23 Forecast
Today’s trade saw bulls dominate, with the Nifty50 reaching a record level of 22,967.65 with gains of 369.85 points. Auto and BankNifty performed well, with major buying in Index-based stocks. The daily chart shows an uptrend with a target of 23,850.
The Nifty reclaimed its record high, gaining over 1%. Sectors like auto, banking, and IT performed well, while defensive sectors like pharma and FMCG lacked. The trend is expected to continue, with the banking index potentially adding momentum. Investors should focus on heavyweight stocks and remain selective in midcap and smallcap segments.
| FII Bought | 146.51 Cr |
| DII Bought | 4,670.95 Cr |
Indian Market Stocks
| Sensex | 1,196.98 | +1.61% | 75,418.04 |
| Nifty 50 | 369.85 | +1.64% | 22,967.65 |
| Nifty Bank | 986.65 | +2.06% | 48,768.60 |
Market Movers
| Adani Enterpris | 246.35 7.84% | Sun Pharma | -44.20 -2.87% |
| Adani Ports | 65.15 4.73% | Power Grid Corp | -5.85 -1.80% |
| Larsen | 124.55 3.60% | Hindalco | -7.75 -1.13% |
| M&M | 88.15 3.50% | Coal India | -4.40 -0.88% |
| Axis Bank | 39.25 3.49% | NTPC | -1.55 -0.41% |
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The Nifty is trending bullishly, with support at 22500 and a strong upward trend. Short-term targets include 22800 and 22600, with potential dips to 22500.
Sensex Sensex Sensex
Sensex After four weeks of increases, Sensex and Nifty fell 2% for the first time After four weeks of increases, Sensex and Nifty fell 2% for the first time
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
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