FINAL TRADE: Nifty ends at 18,399 amid across-the-board buying; Tata Motors settles 3% higher
Closing Bell: Realty stocks gained the most on the BSE after DLF reported an encouraging set of numbers for the March quarter.
The domestic equities ended with decent gains on May 15, 2023, amid across-the-board buying. The S&P BSE Sensex jumped 318 points, or 0.51 per cent to 62,345.71 while the NSE's Nifty ended at 18,398.85, up 84 points, or 0.46 per cent. Realty stocks gained the most on the BSE after DLF reported an encouraging set of numbers for the March quarter. Next on the list were FMCG and telecommunication stocks.
Vinod Nair, Head of Research at Geojit Financial Services, says, "Domestic benchmark indices are marching ahead driven by favourable developments such as declining inflation levels, steady foreign inflows, and in anticipation of robust earnings growth on a QoQ basis next quarter, due to drop in global commodity prices. The domestic CPI inflation came in better than expected at 4.7 per cent, and the WPI inflation decreased by 0.92 per cent, reaffirming RBI’s decision to hold rate hikes."
The S&P BSE Realty index rallied 4.32 per cent to 3,782.48 levels. Sobha (up 11 per cent) was the top gainer on the index, followed by DLF (up 7.43 per cent). The S&P BSE FMCG index gained nearly a per cent. The S&P BSE Auto index gained 0.63 per cent to 32,243.83. Hero MotoCorp (up over 3 per cent) was the top gainer, followed by Tata Motors, and Ashok Leyland. On the NSE, the Nifty Bank index hovered around an all-time high. The index settled at 44,072.10 levels.
The broader market index was in-line with benchmarks. The S&P BSE MidCap index gained 0.47 per cent to 26,324.60 while the S&P BSE SmallCap index ended at 29,761.84, up 0.49 per cent.
GLOBAL MARKETS
World stocks rose on Monday on cautious optimism ahead of this week's deliberations over the US $31.4 trillion debt ceiling, a raft of economic data due and a bevy of central bankers lined up to hint about whether further rate hikes await. European markets opened higher, with pan-region Stoxx (.STOXX) up 0.2% as of 0854 GMT. Both S&P 500 futures and Nasdaq futures rose 0.4 per cent and 0.3 per cent, respectively.
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