FINAL TRADE: Nifty reclaims 22,100, Sensex gains 112 pts led by financial stocks; Cipla zooms 6%
Stock market today: Domestic equity benchmarks Nifty50 and Sensex recovered to settle in green territory on Monday, May 13 led by buying in financial stocks amid volatility.
Stock market today: Domestic equity benchmarks Nifty50 and Sensex recovered to settle in green territory on Monday, May 13 led by buying in financial stocks amid volatility. The leaner Sensex index rose 111.66 points, or 0.15 per cent, to settle at 72,776.13.
The 50-share index Nifty settled at 22,104.05, up 48.85 points, or 0.22 per cent. Among the Nifty companies, 29 stocks were advancing while 21 stocks were declining. Cipla, Asian Paints, HDFC Life, Adani Enterprises, and Adani Ports led the gains in the Nifty50 basket, while Tata Motors, BPCL, Shriram Finance, Coal India, and NTPC were the top decliners.
Cipla jumped settled over six per cent higher on the drugmaker's strong margin outlook post-fourth-quarter results.
On the flip side, at close, Tata Motors slumped about 8.34 per cent and was the top Nifty 50 loser on the day after the automaker forecast flat margin growth at its luxury JLR business.
Nifty Bank finished 333 higher at 47,754.1. Meanwhile, the domestically focussed Nifty SmallCap 100 settled 0.43 per cent lower while Nifty MidCap100 closed 0.41 per cent respectively.
"Though the market reversed from the day’s low and ended up with a marginal gain, investors remain concerned over the progressing general election and high valuation. An absence of major positive triggers and the flight of FIIs from the domestic market will keep the short-term trend weak. Investors remain watchful ahead of the release of India and US inflation data and the FED chair’s speech to get a near-term direction," Vinod Nair, Head of Research, Geojit Financial Services said.
Global Market
Europe's STOXX 600 struggled for direction on Monday, as investors geared up for this week's key U.S. inflation prints and a slew of economic data from the euro zone that could test the benchmark index's record-breaking run.
The pan-European STOXX 600 (.STOXX) was unchanged as of 0820 GMT. Automobiles (.SXAP) led sectoral gains after recent losses, while construction and materials (.SXOP) was the worst hit.
(with Reuters inputs)
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