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Sensex ends 298 pts up, Nifty reclaims 18,200 led by Adani, auto, IT stocks

CLOSING BELL ON MAY 19, 2023: Shares of Adani Group rallied smartly after the SC reported said it could not pinpoint regulatory failure in the Adani-Hindenburg case.

Image SI Reporter New Delhi
sensex, BSE

Photo: Bloomberg

Stock Market Highlights: The key benchmark indices reversed their three-day losing streak on the back of renewed buying interest in auto and IT stocks. Shares of Adani Group also finished with strong gains on Friday after the Supreme Court appointed panel report revealed that it could not pinpoint regulatory failure.

The Supreme Court’s six-member panel said that “prima facie it would not be possible to conclude if there has been a regulatory failure around the allegation of price manipulation in the Adani scrips,” in the Adani-Hindenburg case. It has recommended that all investigation be completed in a time-bound manner. READ MORE

The Gautam Adani Group flagship company – Adani Enterprises ended 3.5 per cent higher. Adani Power, Adani Green and Adani Transmission were locked at the 5 per cent upper limit. Adani Wilmar zoomed nearly 7 per cent. Whereas, Adani Ports, ACC, Ambuja Cement, NDTV and Adani Total Gas were up 1 – 4 per cent each.

Meanwhile, after a positive start the S&P BSE Sensex had dipped to a low of 61,252 only to bounce back on a stronger note. The BSE benchmark rallied all the way to a high of 61,785 – up 533 points from the day’s low. The Sensex eventually ended 298 points higher at 61,730.

The NSE Nifty 50 gained 158 points from the day’s low of 18,060, to hit the day’s high of 18,218. The Nifty settled at 18,203, up 73 points on Friday.


Among the frontline stocks, Tata Motors rallied over 3 per cent. Tech Mahindra, Infosys, HCL Technologies, Axis Bank and Mahindra & Mahindra were up 1 – 2 per cent each. On the flip side, NTPC was down a per cent. Asian Paints and Titan were the other notable losers.

Sectorally, the BSE IT index surged 1.4 per cent. The Auto and Realty indices were up over 0.5 per cent each, while the Healthcare index slipped 0.5 per cent.

3:56 PM

COMMENT :: What all happened in the markets today?

The domestic market, though experienced a lack of decisive direction, closed the day on a positive note. The optimism in the US market was fuelled by progress in debt ceiling talks and stronger-than-expected jobless claims. However, the prospect of a stronger US economy suggests that the Federal Reserve may keep policy rates elevated for an extended duration.

Views by: Vinod Nair, Head of Research at Geojit Financial Services
3:55 PM

Comment :: What's happening in stock markets?

The markets trended lower during the week gone by, as IT sector witnessed a drag owing to a weak set of numbers being declared by one of the majors. The concerns regarding global economic outlook too impacted the sentiments; a strong growth reported by China failed to meaningfully influence the bulls. Over the near term the markets may be expected to be volatile, led by very stock specific movements as the earnings season goes underway in full swing

Views by: Joseph Thomas, Head of Research, Emkay Wealth Management 
3:54 PM

Currency check :: Rupee ends weaker at 82.66/$ against Thursday's close of 82.60/$

3:52 PM

Buzzing stock :: HT Media declines over 5% as Q4 loss widens

3:51 PM

Buzzing stock :: UNO Minda drops 5% post Q4 result announcement

3:49 PM

Buzzing stock :: Nexus Select REOT ends with 4% premium on debut day

3:48 PM

Buzzing stock :: Thomas Cook sinks 8% even as Co narrows loss in Q4

3:46 PM

Buzzing stock :: Gland Pharma freezes at 20% lower circuit on disappointing Q4

3:45 PM

Buzzing stock :: The Ramco Cements surges 8% as investors cheer Q4 show

3:43 PM

Buzzing stock :: Tata Motors zooms over 3%, ends as top gainer on Sensex

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3:42 PM

Buzzing stocks :: All Adani group stocks gain in trade as SC Panel report remains 'inconclusive'

The Supreme Court’s six-member panel said that “prima facie it would not be possible to conclude if there has been a regulatory failure around the allegation of price manipulation in the Adani scrips,” in the Adani-Hindenburg case. It has recommended that all investigation be completed in a time-bound manner.
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3:39 PM

Broader market check :: Mid, SmallCap indices see profit booking

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3:37 PM

Sectoral check :: All but Pharma, FMCG indices settle with gains

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3:35 PM

Sensex Heatmap :: Gainers outrun losers in fag-end; TaMo rises 3%, Tech M 2%

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3:34 PM

CLOSING BELL :: Nifty reclaims 18,200

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First Published: May 19 2023 | 7:30 AM IST

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