Sensex, Nifty closed slightly lower , The Nifty PSU Bank Index, Nifty Realty, and oil & gas indices all saw significant gains, with the latter rising by 1.4%.
Sectors and stocks
US producer price index for April exceeded expectations, easing rate cut speculations. Federal Reserve Chair Jerome Powell reaffirmed inflation’s slowdown is slower than anticipated, maintaining a stance of patience and persistence with current policy measures. Powell expects inflation to ease gradually.
May 16 Forecast
The market moved sideways due to election-induced jitters, with FIIs selling, but domestic investors focused on stock-specific picks. Capital goods sector’s positive results and robust growth outlook outperformed, while US 10-year yield drop awaits.
Markets fell due to profit taking in banking, auto, and FMCG stocks, with gains in realty, oil & gas, and power. Investors are cautious amid uncertainty.
The markets closed unchanged after three days of rebound, with the Nifty lower due to pressure from heavyweights. Sectoral trends were mixed, with energy, realty, FMCG, and auto sectors experiencing gains. A cautious outlook is maintained, recommending stock-specific trading and monitoring US markets for cues.
The Nifty traded sideways due to lack of directional breakouts and bulls’ struggles to push above 22,250. Sentiment remains subdued, with potential for a move beyond 22250.
The Nifty index touched 21,850 during the week, with the focus on the final phases of the 2024 Lok Sabha elections. Metals, PSUs, and smallcaps outperformed the frontline index, with stock-specific moves observed on the MSCI index rebalance. Global markets maintain momentum ahead of the US April CPI report, which could shed light on the Fed’s interest rate path. Foreign Institutional Investors (FIIs) are on a net selling spree, with MTD net selling seen at Rs 33,540 crore. Technicals suggest immediate resistance is at 22,400 levels, with the next lower levels to be watched around 22,000 levels.
| FII Sold | -2,832.83 Cr |
| DII Bought | 3,788.38 Cr |
Indian Market Stocks
| Sensex | -117.58 | -0.16% | 72987.03 |
| Nifty 50 | -17.30 | -0.08% | 22200.55 |
| Nifty Bank | -172.00 | -0.36% | 47687.45 |
Market Movers
| Coal India | 19.15 4.27% | Asian Paints | -52.45 -1.83% |
| Cipla | 49.35 3.64% | Tata Motors | -17.35 -1.80% |
| BPCL | 19.10 3.15% | Bajaj Auto | -162.10 -1.79% |
| Bharti Airtel | 25.60 1.99% | Eicher Motors | -81.20 -1.72% |
| Power Grid Corp | 5.60 1.81% | HDFC Bank | -22.45 -1.54% |
Must read book about investing – check here
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.
Red Alert Red Alert Red Alert Red Alert Red Alert Red Alert Red Alert Red Alert
Record High Record High Record High Record High Record High Record HighrRRecord HighRecord Highecord Highockets
Market Rally Halts Market Rally Halts Market Rally Halts Market Rally Halts
stor Alarm