Sensex adds 613 pts; Nifty ends above 15,100; MidCap index hits record peak

In the broader market space, the S&P BSE MidCap index zoomed 1.9 per cent to settle at 21,232 after hitting record peak of 21,255 levels earlier today

5:01 PM

MARKET CLOSING COMMENT :: Deepak Jasani, Head of Retail Research at HDFC Securities

ndian equity benchmark indices rose for a second day on May 18, tracking most Asian peers and closed at a two month high. Nifty opened with an upgap and made a 94 point high-low range for the day. At close, Nifty 50 Index added 1.24% or 185 points to close at 15108.

 

Volumes on the NSE were above recent average. Among sectors, Capital Goods, Consumer Durables, Power and Auto rose the most while Telecom and FMCG fell. Midcap index outperformed the Nifty.

 

Nifty breached the earlier resistance of 15044 with an upgap and closed with sharp gains. Advance decline ratio was also positive. The next resistance for the Nifty is at 15186-15240 while the support for the near term could come in at 14938-14988. Falling new cases of Covid-19 and faster recoveries has raised hopes that the second wave is now on a decline mode and India shall soon be back on the normal growth path. 

4:52 PM

TECH VIEW :: Nagaraj Shetti, Technical Research Analyst at HDFC Securities

The short term trend of Nifty continues to be positive. The unfilled opening upside gap and a formation of small positive candle could hint at a possibility of profit booking emerging from the highs. Hence, bulls needs to be cautious at the swing highs. Nifty not showing any profit booking in the next couple of sessions could open the next upside levels of 15450-15500 in the near term. Immediate support is placed at 15000 levels.

4:39 PM

TECH VIEW :: Sumeet Bagadia, Executive Director at Choice Broking

Technically, the nifty index has given a Falling Channel breakout and sustained above the prior resistance levels on the daily chart, which suggests bullish strength for the upcoming sessions. Moreover, the index has also taken good support at 100-DMA and settled above Ichimoku Cloud formation, which indicates continued upside move for the long term. An oscillator Stochastic & MACD also suggested positive crossover on the daily time-frame. At present, the nifty index is holding support at 14950 levels while an upside resistance seems at 15300 levels.

4:27 PM

MARKET CLOSING COMMENT :: Ajit Mishra, VP - Research, Religare Broking

Nifty has finally regained momentum after spending nearly two months in a consolidation range and reclaimed the 15,000 mark. The rise can be attributed to a decline in India's COVID cases and stability in the global markets. Among the sectoral indices, banking and auto have witnessed decent traction in the last two sessions after underperforming for nearly a month or two. Indications are in the favor of prevailing up move to continue thus we suggest continuing with the “buy on dips” approach

4:18 PM

MARKET CLOSING COMMENT :: Vinod Nair, Head of Research at Geojit Financial Services

In anticipation of rapid fall in covid cases, the implication of corporate results and favourable Asian markets, the Indian market has reverted with a strongly after the 3 months of muted performance. Global futures indices rose ahead of the release of the Fed's policy minutes, which is due on Wednesday, in anticipation of accommodative outlook

4:05 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index opened a day with a strong gap above its good hurdle zone of 15050 & managed to close a day at 15108 with good gains of more than one percent. Going forwards 15000-14900 will act as a strong base holding above said levels structure will be quite positive also any dip near said levels will be again buying opportunity with keeping overall stop out level below 14900 zone and resistance is coming near 15200-15300 zone

4:03 PM

BSE Snapshot :: M-cap of all BSE listed firms climbs above Rs 216-trillion mark

3:58 PM

Broader market :: BSE SmallCap index ends 1%

3:56 PM

Broader market :: BSE MidCap index hits record high of 21,265 in intra-day deals

3:54 PM

NSE Snapshot :: Top Nifty50 gainers of the day

3:50 PM

RIL, HDFC Bank, Infy remain top contributors towards Sensex's gain today

3:48 PM

Sectoral trends on the NSE

3:42 PM

Sensex Heatmap at Close

Top gainers: M&M, Bajaj Auto, Titan

Top losers: Bharti Airtel, ITC, Dr Reddy

3:34 PM

CLOSING BELL

The benchmark S&P BSE Sensex soared 613 points, or 1.24 per cent, to end the day at 50,193 levels with only four stocks -- Bharti Airtel, ITC, Dr Reddy's Labs, and State Bank of India -- settling the day in the red.

 

On the NSE, the Nifty50 index reclaimed the 15,000-mark for the first time since March 12 on a closing basis, and shut shop at 15,108 levels, up 185 points or 1.24 per cent.

 

3:19 PM

Odisha extends lockdown till June 1 as active coronavirus cases top 100,000

Odisha government on Tuesday announced further extension of lockdown from May 19 till June 1 as the active cases in the state soared past 100,000.

 

However, essential shops will allowed to function from 7 am to 11 am. On weekends, there will be a complete shutdown, starting 6 pm on Fridays till 5 am of Mondays. READ MORE

3:09 PM

Sector Watch :: Nifty Energy index adds 2%

2:54 PM

BSE Midcap index hits new high led by auto, consumer discretionary stocks

The S&P BSE Midcap index hit a record high of 21,254.92, up 2 per cent on the BSE in the intra-day trade on Tuesday, on the back of a strong rally in automobile, consumer discretionary, financials and Adani Group stocks. The index surpassed its previous high of 21,085.51 touched on March 4, 2021 in the intra-day trade. READ MORE

2:43 PM

NEWS ALERT | 0.6% Equity exchanged IN RBL Bank on NSE

2:37 PM

MARKET UPDATE:: HDFC Bank, RIL, and ICICI Bank among top Sensex contributors

2:36 PM

Brent crude hits $70/bbl-mark

2:24 PM

Gold extends rally as weak dollar, inflation jitters lift appeal

Gold prices extended gains on Tuesday, hitting their highest level in more than three-and-a-half months, as a weaker U.S. dollar and growing inflationary pressure bolstered the metal's appeal as an inflation hedge. Spot gold was up 0.2% at $1,869.12 per ounce by 0642 GMT, after hitting its highest since Jan. 29 earlier in the day. U.S. gold futures rose 0.1% to $1,869.90. READ MORE

2:16 PM

NEWS ALERT :: Madhya Pradesh govt extends 'Corona curfew'

2:07 PM

Easy Trip Planners hits 20% upper circuit on heavy volumes

Shares of the recently listed Easy Trip Planners, the travel support services company, were locked in the upper circuit of 20 per cent at Rs 229.80 on the BSE in Tuesday's session amid heavy volumes. The trading volumes on the counter jumped over four-fold with a combined 6.41 million equity shares having changed hands on the NSE and BSE at the time of writing this report. There were pending buy orders for 880,000 shares on both the exchanges, the data shows. READ MORE

1:50 PM

March Quarter Results :: Canara Bank clocks net profit of Rs 1,011 crore

>> Bank had posted loss of Rs 3,259 crore

>> NII: Rs 3,318.5 crore

1:45 PM

SECTOR WATCH:: Auto stocks in focus

Company	LATEST(RS)	CHG(%)
Tata Motors	332.75	3.63
Ashok Leyland	121.70	5.41
Tata Motors-DVR	154.10	2.09
TVS Motor Co.	640.40	3.78
M & M	788.30	4.65

1:37 PM

MARKET VIEW | Hemang Jani, Head Equity Strategy, Broking & Distribution, MOSL

The Nifty Midcap 100 index yesterday crossed the 25,000-mark for the first time and continues to hit all time high as the  sentiments improve. Over last 1 year, Nifty Midcaps have clearly outperformed, giving returns of ~94% vis-à-vis 65% return in Nifty. As domestic covid cases fell below the 3 lakh mark for the second day in a row since mid-April, helped by the extended lockdowns by majority states, sentiments have turned buoyant. Hopes have accelerated that soon restrictions/curbs would be eased once cases decline further. Even the news flows around vaccination front is boosting confidence as more Pharma companies are tying up for vaccine manufacturing. Visibility on economic recovery front improves as industrial activities largely continued even during the lockdown and now with restrictions likely to ease, consumer demand is expected to make a come-back. Thus investors are heading more for mid-cap stocks as growing risk appetite and cheaper valuations of these companies compared to large-cap peers have revived their popularity.

1:35 PM

European markets check

(Source: Reuters)

1:34 PM

Sensex Heatmap | Top gainers & losers at this hour

1:18 PM

Praj Industries surges 8% on developing eco-friendly bitumen

Shares of Praj Industries moved higher by 8 per cent to hit a new high of Rs 356.80 on the BSE in intra-day trade on Tuesday after the company announced that Circular Biobased Delta has approved Praj’s Bio-bitumen samples processed from purified lignin, as a part of their flagship CHAPLIN program. The Netherlands-based Circular Biobased Delta is one of Europe’s premier consortia to promote bio-economy. READ MORE

1:06 PM

Recovery from intra-day lows in today's trade

COMPANY	DAY'S LOW(RS)	DAY'S HIGH(RS)	LATEST(RS)	RISE(%)
Schneider Elect.	97.05	110.65	108.45	11.75
Max Financial	827.20	905.25	899.60	8.75
KEI Industries	530.85	581.90	575.00	8.32
Omaxe	78.10	86.75	84.50	8.19