Sensex rise, The broader markets demonstrated superior performance compared to benchmark indices.
On May 18, domestic markets saw gains for the third consecutive session, with Sensex and Nifty closing with 0.1% gains. Broader markets outperformed benchmark indices, with 2,359 shares advanced and 998 declined.
Sectors and stocks
The Nifty Media index saw gains in sectors like Zee Entertainment, Nifty Energy, and Nifty Infrastructure, while global markets ended mixed due to inflation, corporate earnings, and jobless claims.
May 21 Forecast
Ajit Mishra, SVP, Research, Religare Broking, advised investors to maintain a ‘buy-on-dips’ strategy amid a dull trading session, with the Nifty closing at 22,502, despite mixed performance among major stocks.
LKP Securities’ Senior Technical Analyst Rupak De warns traders to monitor the Nifty’s initial hour for any directional moves, as a small candle on the daily chart suggests little future direction, suggesting a sustained move towards 22,600.
| FII Sold | 0 Cr |
| DII Bought | 0 Cr |
Indian Market Stocks
| Sensex | 88.91 | +0.12% | 74,005.94 |
| Nifty 50 | 35.90 | +0.16% | 22,502.00 |
| Nifty Bank | 83.85 | +0.15% | 48,115.65 |
Market Movers
| Nestle | 58.90 2.41% | JSW Steel | -16.65 -1.83% |
| Power Grid Corp | 3.75 1.20% | M&M | -10.90 -0.43% |
| Tata Motors | 8.25 0.87% | Maruti Suzuki | -41.35 -0.33% |
| Hindalco | 4.90 0.75% | LTIMindtree | -13.20 -0.28% |
| ONGC | 1.55 0.56% | UltraTechCement | -24.75 -0.25% |
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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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