Stock Market Highlights, May 10: Sensex snaps 3-day losing run, ends 260 pts up; Nifty reclaims 22K
Stock Market Wrap Friday, May 10: RIL, ITC and Airtel led the rally; broader indices - MidCap and SmallCap - outran the benchmark indices and finished 0.8 per cent higher.
 "Markets continue to rally on RBI policy fillip; Sensex rises 164 points")
Stock Market Highlights Friday, May 10: Equity benchmark indices witnessed a relief rally on Friday on the back of supportive global cues, with Reliance, ITC and Bharti Airtel doing the heavy lifting.
Globally, equity markets rallied with FTSE 100 hitting a new high as hopes of interest rate cut rose in Europe and the US. Two out of 9 Bank of England hinted of a possible rate cut in September, while weaker US economic data also bolstered hopes.
The S&P BSE Sensex touched a high of 72,946, and eventually ended 260 points higher at 72,664 - thus snapping its three-day losing streak. The BSE index, however, was down 1.6 per cent or 1,214 points for the week.
The NSE Nifty 50 reclaimed the psychological 22,000-mark, and settled 98 points higher at 22,055.
NTPC and Power Grid were the top gainers among the Sensex 30, up over 2.5 per cent each. JSW Steel, Asian Paints and ITC were the other major movers, up over 2 per cent each.
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Bharti Airtel, Hindustan Unilever, Tata Motors, Titan, Maruti, Bajaj Finance, Reliance Industries and Sun Pharma also ended with notable gains.
On the flip side, TCS slipped 1.7 per cent. Infosys, Mahindra & Mahindra, HDFC Bank, HCL Technologies and Wipro were the other losers.
The broader market outperformed the benchmark indices. The BSE MidCap and SmallCap indices gained 0.8 per cent each.
The overall breadth too was positive, with nearly 2,200 stocks advancing as against 1,600 declining shares on the BSE.
3:56 PM
COMMENT:: US tariff actions on Chinese EV companies will attract market attention
"Indian markets largely remained positive; however, a trend of sell-on rally is emerging given domestic premium valuation and election jitters creeping in the minds of investors given lower voter turnout. Financials remained weak on account of signs of contraction in NIMs and the RBI's regulatory actions. FIIs continue to remain sellers given delays in rate cuts, inflationary concerns, moderation in corporate earnings, and premium valuation. Apart from US consumer and inflation data, the possibility of US tariff actions on Chinese EV companies will attract market attention."
- Vinod Nair, Head of Research, Geojit Financial Services.
3:53 PM
BSE SmallCap Heatmap:: Jupiter Wagons zooms 16%; Intellect Design slumps 14%
3:50 PM
BSE MidCap Heatmap:: Endurance, JSW Energy, PolyCab soar around 7%; Crompton tanks 3%
3:48 PM
Sectoral check:: Auto, FMCG, Metal indices shine; IT whines
3:46 PM
Market check:: Broader indices outrun benchmarks
3:44 PM
Nifty Movers & Shakers:: BPCL soars 4%; TCS down 2%
3:43 PM
Sensex Heatmap:: NTPC, Power Grid lead gains; TCS, Infosys slip
3:41 PM
ALERT:: Nifty reclaims 22,000-mark; settles 98 points higher
3:39 PM
CLOSING BELL: S&P BSE Sensex ends at 72,664, up 260 points
3:26 PM
IPO Update :: Aadhar Housing Finance subscribed 19x so far on final day
Topics : MARKET LIVE MARKETS TODAY Markets Sensex Nifty BSE NSE stock market trading markets this week stocks to watch stocks to watch out S&P BSE Sensex BSE Sensex NSE Nifty50 benchmark index Nifty50 MARKET WRAP
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First Published: May 10 2024 | 7:45 AM IST