Sensex, Nifty Extend Gains, Sectoral indices saw Nifty Metal gain by 2.77%, followed by Nifty auto and oil & gas, Nifty PSU Bank, Consumer durables, and realty, while Nifty FMCG and Pharma fell 0.5% each.
India’s Sensex and Nifty surged for third consecutive session, with Sensex up over 300 points and Nifty above 22200. BSE MidCap and SmallCap also showed strength.
Sectors and stocks
The Nifty Metal sector saw a 2.77 percent increase, followed by Nifty auto and oil & gas. Nifty PSU Bank, Consumer durables, and realty also saw gains. Investors await US inflation reports, with producer prices and consumer price index expected to indicate moderation.
May 15 Forecast
The market is predicting a 3-day rally, with Sensex closing above 73k crucial. Despite low profile during election season, mid and small-cap stocks still hold value.
The domestic market has recovered from recent lows, supported by moderation in India’s CPI and positive Asian signals. Investors are cautious ahead of U.S. CPI data, causing volatility and range-bound trading.
The Nifty continued its upward trend, reaching 22,222.5. Sectors showed mixed trends, with metal and auto sectors showing strong gains, while FMCG and pharma saw profit-taking. The market is approaching the hurdle zone around 22,300, potentially causing a pause or corrective phase.
The Nifty index rose after a positive trading session, closing below the rising channel’s lower band. It reached 22,200, but needs to return within the channel to maintain momentum and avoid market selling pressure.
| FII Sold | -4,065.52 Cr |
| DII Bought | 3,527.86 Cr |
Indian Market Stocks
| Sensex | 328.48 | +0.45% | 73104.61 |
| Nifty 50 | 113.80 | +0.51% | 22217.85 |
| Nifty Bank | 105.35 | +0.22% | 47859.45 |
Market Movers
| Adani Enterpris | 157.95 5.49% | Cipla | -57.30 -4.05% |
| M&M | 85.65 3.92% | TCS | -46.60 -1.18% |
| Hero Motocorp | 157.90 3.23% | Nestle | -28.90 -1.15% |
| Larsen | 85.60 2.60% | TATA Cons. Prod | -11.50 -1.05% |
| JSW Steel | 20.90 2.43% | Axis Bank | -9.15 -0.81% |
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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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