Thursday, May 15, 2025 | 07:29 PM ISTहिंदी में पढें

Home / Markets / News / Sensex zooms 629 pts, Nifty ends at 18,500; RIL, Sun Pharma jump up to 3%

Live Blog

Sensex zooms 629 pts, Nifty ends at 18,500; RIL, Sun Pharma jump up to 3%

Stock market highlights on May 26, 2023: The BSE Sensex gained steam and surged 629 points to close at 62,502. The NSE Nifty edged 178 points to end at 18,499

SI Reporter New Delhi

Stock market rally, bull trading, Sensex, nifty

STOCK MARKET HIGHLIGHTS: Broad-based gains across the market sharply lifted equity benchmark indices on Friday, aided by positive global sentiment as investors closely track US debt limit negotiations. After slim opening gains, the BSE Sensex gained steam and surged 629 points to close at 62,502. The NSE Nifty edged 178 points higher to end at 18,499.

Frontline stocks like Sun Pharma, Reliance, Hindalco, HCL Tech, HUL, Wipro and Tech M clocked gains of nearly 2-3 per cent. The upmove in Sun Pharma, notably, came after the company posted a net profit of Rs 1,984.5 crore for Q4FY23 versus a net loss of Rs 2,227 crore a year ago.

On the other hand, ONGC and Grasim dropped 1 per cent each ahead of their Q4 results, which will be released after market hours. Bharti Airtel, Bajaj Auto and Power Grid were the other frontline underperformers.

Broader markets also moved higher in tandem with benchmarks. The BSE Midcap index closed 0.8 per cent higher. The index hit a 19-month high earlier in the day and was merely 2 per cent away from reclaiming its record high. READ

Among broader market stocks, Zee Entertainment jumped 7 per cent after the NCLAT set aside an NCLT order, which directed the NSE and BSE to review their no objection certificate (NOC) given to the Zee-Sony merger.

While, Page Industries slumped 9 per cent on reporting a sharp decline in profit margins for Q4FY23. READ

Sector-wise, all Nifty indices ended higher led by IT, FMCG, Pharma Metals and PSB pockets, which gained over 1 per cent each.

4:20 PM

COMMENT:: Domestic market defied global mood; Consistent FII buying boosts sentiment

"Despite weak cues from global markets, the domestic market defied the trend and experienced a widespread rally, driven by the strong growth forecast for the Indian economy. With the upcoming Q4 GDP data, it is anticipated that India's FY23 GDP will marginally surpass the earlier projected 7 per cent growth rate. Additionally, the expectation of a normal monsoon and consistent FII buying further boosted confidence among domestic investors."

- Vinod Nair, Head of Research at Geojit Financial Services

4:17 PM

VIEW:: Trend to remain positive as long as Nifty stays above 18,400

"Bulls have taken control of the Indian equities market, as the Nifty has experienced a consolidation breakout on the daily chart. The rally has been supported by the strength in Reliance, ITC, and IT stocks. The Nifty has been sustaining above a critical moving average, indicating a strong position. The trend is expected to remain positive as long as the index sustains above the support level of 18,400. On the higher end, there is a resistance level at 18,700."

- Rupak De, Senior Technical Analyst at LKP Securities

4:17 PM

VIEW:: Bank Nifty can rally to 45,000, if it sustains above 44,000 level

"The Bank Nifty index witnessed a strong comeback by the bulls, overpowering the bears. There was consistent buying activity throughout the day, indicating bullish sentiment in the market. If the index manages to sustain above the level of 44,000, it has the potential to experience further upside towards 45,000. The momentum indicator RSI has also confirmed a positive crossover, reinforcing the buy signal. Traders and investors should closely monitor the index for sustained strength above 44,000 and consider the potential for continued upward movement based on the bullish momentum and buying activity observed."

- Kunal Shah, Senior Technical Analyst at LKP Securities

4:14 PM

Sensex at 100,000? It's possible, believes Chris Wood of Jefferies

The target implies an upside of nearly 62 per cent from the current levels. Wood believes that India remains the best structural story across world markets. READ MORE

4:12 PM

ITC market-cap hits Rs 5.5 trn; stock trades higher for 6th straight day

Thus far in the calendar year 2023, ITC has surpassed market value (mcap) of Infosys, SBI, HDFC, Bharti Airtel, Adani Enterprises and LIC. READ MORE

4:10 PM

Midcap index nears record high; Varun Beverages, Cummins hits new high

The midcap index hit an intra-day high of 26,803, was less than 2 per cent away from its record high level of 27,246.34, touched on October 19, 2021. READ MORE

4:06 PM

Indo Tech Transformers soars 10%; stock has rallied 82% in five days

The stock of heavy electric equipment company traded higher for the fifth straight day, and has zoomed 82 per cent after the company reported strong March quarter earnings (Q4FY23). READ MORE

4:03 PM

Page Industries plunges 9, hits 19-month low on disappointing Q4 results

The company said it experienced some impact on profitability due to higher inventory levels acquired during an inflationary period and lower than optimal capacity utilization. READ MORE

4:00 PM

Star Health and Allied Insurance slumps over 8% amid huge block deals

Shares of Star Health and Allied Insurance Company (Star Health) slipped 9 per cent to Rs 531.70 on the BSE in Friday’s trade after nearly 3 per cent equity of the private general insurance company changed hands on the bourses. READ MORE

3:57 PM