Stock Market Highlights, May 15: Mid, SmallCap indices shine, Benchmarks end listless

Stock Market LIVE updates on Wednesday, May 15, 2024: Among sectors, the Nifty PSU Bank index added 1.4 per cent, followed by the Nifty Realty (1 per cent)

Closing Bell on Wednesday, May 15, 2024: Benchmark indices were extremely volatile on Wednesday as investors chose to stay sidelines amid election-related nervousness. The S&P BSE Sensex ended at 72,987, down 118 points or 0.16 per cent after trading within a range of 72,823 to 73,301.5. 

The NSE Nifty50, on the other hand, ended at 22,200.5, down 17 points or 0.08 per cent.

Power Grid, Bharti Airtel, M&M, NTPC, HCL Tech, L&T, and Wipro were the top large-cap gainers, while HDFC Bank, Asian Paints, Tata Motors, Sun Pharna, and HUl were the top laggards.

The broader markets, on the contrary, held onto their gains throughout the session with the BSE MidCap, and SmallCap indices closing 0.6 per cent and 0.96 per cent higher, respectively.

Among sectors, the Nifty PSU Bank index added 1.4 per cent, followed by the Nifty Realty (1 per cent). On the downside, the Nifty Bank, and Private Bank indices slipped 0.4 per cent each.

3:52 PM

Comment :: 'Moves in US yields to be watched ahead of inflation data'

The market witnessed a sideways movement throughout the day as the emotions of investors were impacted by the election-led jitters. FIIs continued to remain in the selling mode; however, domestic investors were largely concentrated on stock-specific picks.

The positive results from the capital goods sector and robust growth outlook gained investors’ attention and led the segment to outperform. A drop in US 10yr yield ahead of the release of sensitive CPI data from the US will be watched carefully by the market to gain insights on rates.

Views by: Vinod Nair, Head of Research, Geojit Financial Services

3:50 PM

Tech View :: 'Nifty bank faces resistance at 48,000'

The BankNifty index experienced sideways trading during the weekly expiry day, encountering resistance at the 48,000 level. To sustain the upward momentum, the index must decisively surpass this mark, targeting levels around 48,500. On the downside, support is positioned at 47,200, presenting favorable buying opportunities on dips toward this level.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

3:49 PM

Tech View :: 'Failure to sustain 22,200 may intensify selling in Nifty'

The Nifty largely traded sideways as the index failed to generate any significant directional breakout. Bulls struggled to push Nifty above the 22,250 mark on a closing basis. Sentiment remains subdued as long as it stays below 22,250. A decisive move beyond this level could potentially propel Nifty towards 22,600 and beyond. Conversely, a failure to sustain above 22,200 might invite selling pressure in the market.

Views by: Rupak De, Senior Technical Analyst, LKP Securities

3:47 PM

Comment :: 'Remain cautious on Nifty'

We maintain our cautious outlook on the Nifty index, highlighting the resistance in the 22,300-22,400 zone, and suggest continuing with a stock-specific trading approach. In addition to domestic factors, it's advisable to closely monitor the US markets for cues.

Views by: Ajit Mishra – SVP, Research, Religare Broking

3:45 PM

Currency check :: Rupee ends 1 paise higher at 83.498/$

3:43 PM

Go Digit IPO update :: Issue subscribed 29% till 3:30 PM on Day 1

3:42 PM

Broader markets :: Mid, SmallCap indices outperform on May 15

3:40 PM

Sectoral trends :: PSB, Realty stocks rally; Pvt banks slip

3:39 PM

Sensex Heatmap :: HDFC Bank, RIL, TaMo weigh on benchmarks

3:38 PM

Closing Bell :: Nifty holds 22,200

3:36 PM

Closing Bell :: Sensex ends volatile session in the red

3:28 PM

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3:18 PM

ALERT :: Bharti Airtel Concall update

>> Need significant repair in tariffs

>> ARPU of Rs 300 will be among lowest

>> India will be well served with 3 telcos

>> Expect to see moderation in capex in FY25

>> Revenue earnings customer addition is based on the roll-out we have done

3:10 PM

Stock Alert :: M&M hits record high ahead of Q4 results tomorrow

2:56 PM

Market Check :: Top gainers on the BSE at this hour