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Nifty ends May F&O series above 18,300; Sensex gains 99 points

CLOSING BELL: The broader BSE MidCap and SmallCap indices outperformed the benchmarks as both the indices registered gains of up to 0.36 per cent

Image SI Reporter New Delhi
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Stock market highlight: Benchmark indices swung between gains and losses on Thursday as investors focussed on stock-specific action and adjusted their positions amid monthly F&O expiry for May series.

The S&P BSE Sensex oscillated between 61,484.6 and 61,926, before closing at 61,873, up 99 points or 0.16 per cent. The Nifty50, meanwhile, settled at 18,321, up 36 points or 0.20 per cent. The index gyrated between 18,202 and 18,338 during the day. 

The broader BSE MidCap and SmallCap indices outperformed the benchmarks as both the indices registered gains of up to 0.36 per cent.

Among sectors, the Nifty Realty index advanced 1 per cent, followed by the Nifty FMCG index (up 0.6 per cent). The Nifty PSU bank index was the top laggard, down 0.45 per cent. 

4:13 PM

COMMENT:: Domestic market rebounded as US futures recouped losses

"Global markets maintained their influence, exerting downward pressure on the domestic market in response to weaker cues from the US market and the recession in Germany. However, as US futures rose, propelled by a sharp increase in sales projections from chipmaker Nvidia, the domestic market was able to efficiently recoup its earlier losses.
- Vinod Nair, Head of Research at Geojit Financial Services
4:11 PM

VIEW:: Outlook for Nifty remains positive; support seen at 18,200

"Nifty remained volatile during the day, but found support at the 18,200 level before moving higher. The RSI is in bullish crossover on the lower timeframe, which suggests that the momentum is in favor of the bulls. On the higher end, resistance is seen at 18,500. Support is seen at 18,200. Overall, the outlook for the market is positive, but there is still some volatility to be expected. Traders should take profits on rallies and look for opportunities to buy on dips."
- Rupak De, Senior Technical Analyst at LKP Securities
4:11 PM

VIEW:: Bank Nifty can rally higher if it breaks 44,000 hurdle

"The fight between the bulls and bears continues in the Bank Nifty Index. The bulls have been trying to push the index higher, but the bears have been successful in keeping it in check. The May monthly expiry witnessed volatile trading, but the index managed to hold the support of 43,400. This is a positive sign for the bulls, as it shows that there is still demand for the index at this level. The resistance is at 44,000, where the highest open interest is built up on the call side. This means that there is a lot of potentials for the index to move higher if it can break through this resistance level."
- Kunal Shah, Senior Technical Analyst at LKP Securities
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3:52 PM

Market breadth was positive; 1,877 stocks advanced v/s 1,616 declining shares on the BSE

3:49 PM

BSE Smallcap Heatmap:: Onward Tech, Hindware Home zoom up to 15%; Lincoln Pharma cracks 11%


3:46 PM

BSE Midcap Heatmap:: Jubilant Foodwork, JSW Energy soar up to 4%; Max Health dips 4%


3:43 PM

Broader indices outperform; India VIX dips 4%


3:41 PM

Nifty 50 Losers:: Wipro, Tata Motors, IndusInd Bank were down around 1%


3:40 PM

Nifty 50 Gainers:: Bajaj Auto, Adani Enterprises, Bharti Airtel rise up to 3%


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First Published: May 25 2023 | 7:13 AM IST

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