Nifty hits new closing peak of 15,583; adds 6.5% in May; Sensex up 515 pts

RIL, up over 3 per cent on the National Stock Exchange (NSE), single-handed lifted the frontline Nifty50 index to record peak of 15,606 in the intra-day session today

3:50 PM

NSE Snapshot :: Top Nifty50 gainers of the day

3:48 PM

Index contributors :: RIL, ICICI, HDFC Bank lift Sensex

3:46 PM

Sectoral trends on the NSE

Top gainer: Metal index zooms 2%

Top loser: Media, PSU Bank index decline up to 1%

3:42 PM

Sensex Heatmap at Close :: RIL zooms 9% in 2 days; M&M cracks

3:35 PM

CLOSING BELL

RIL, up nearly 3 per cent on the National Stock Exchange (NSE), single-handed lifted the frontline Nifty50 index to record peak of 15,606 in the intra-day session today while other index contributors rallied between 0.5 per cent and 3 per cent. 

 

By close, the Nifty index quoted at 15,583 levels, up 147 points or 0.95 per cent. About 39 of the 50 constituents on the index settled the day in the green while 11 constitunts settled in the red including M&M (down 4.4 per cent), Adani Ports, L&T, Sun Pharma, and Indian Oil Corporation.

 

Meanwhile, on the BSE, the Sensex index zoomed 590 points in intra-day session and hit a high of 52,013. It, however, pared minor gains and closed at 51,937, up 515 points or 1 per cent.

3:26 PM

Volatility Alert

Volatility index, India VIX, cools off 3% to 16.9 levels.

3:13 PM

NEWS ALERT :: OECD raises growth forecasts on vaccine rollouts, US stimulus, reports Reuters

The global economic outlook is improving as vaccine rollouts allow businesses to resume operations and as the United States pumps trillions of dollars into the world's largest economy, the OECD said on Monday, nudging its forecasts higher.

3:02 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

2:55 PM

Second Covid-19 wave impact manageable for most of India Inc: Fitch

The impact of the second Covid-19 wave on rated Indian firms is expected to be manageable, as most companies’ credit profiles are supported by their strong market positions, adequate balance sheets, liquidity and diversified operations, Fitch Ratings says. They have the flexibility to adjust costs and key business drivers, until operations recover with the easing of restrictions. READ MORE

2:45 PM

COMMODITY VIEW :: GOLD

Gold prices traded higher, hovering around the key $1,900-level after U.S. consumer prices were reported better than expected in April hence supporting the metal as an inflation hedge. U.S. consumer prices surged in April, with a measure of underlying inflation blowing past the Federal Reserve's 2% target. The White House last week sent Congress a $6 trillion budget plan which would focus on infrastructure, education and combating climate change. This is budget plan is considered with an objective to support the economy although, it also increases the markets worry regarding the increasing debt. In this data heavy week, market participants today will focus on GDP data on domestic front. Focus will also be on the manufacturing and Service PMI data from major economies and U.S. non-farm payroll data scheduled this later week.  Broader range on COMEX could be between $1898- 1925 and on the domestic front prices could hover in the range of Rs 49,100- 49,630.

-- Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services

2:36 PM

MARKET UPDATE:: RIL, ICICI Bank, and HDFC Bank top contributors to Sensex's 500-point rally today

2:31 PM

This RK Damani, Rakesh Jhunjhunwala-owned stock has gained 56% in 3 days

Shares of Prozone Intu Properties were locked in the 10 per cent upper circuit band for the second straight day, at Rs 31.75 apiece, on the BSE on Monday with only buyers rushing to the counter. In the past three days, the stock has zoomed 56 per cent from a level of Rs 20.40 seen on Wednesday, May 26 and was trading at its highest level since May 2019. In the past one month, the stock has rallied 84 per cent as compared to a 6 per cent rise in the S&P BSE Sensex. READ MORE

2:18 PM

MARKET CHECK :: Sensex at day's high

2:09 PM

MARKET INSIGHT :: Nifty at record peak but stay cautious

Benchmark indices hit record highs in today’s trading session with Nifty touching all-time high of 15,573 intraday, led by Reliance, which has broken out of the consolidation zone, and since it has a major weightage in Nifty, its positive movement is bound to be good news for the markets. Banking & IT stocks have also supported the current rally, including the likes of SBI, ICICI Bank, Axis Bank, TCS & Infosys, to name a few. Even the derivatives data continues to be extremely bullish, which further adds to the up move. And all this on the day, when Asian markets remain weak. Receding lockdown fears and hope of better economic recovery in coming quarters, is supportive. However, as markets are at record levels, they generally tend to be extremely volatile, so caution should not be abandoned.


Views by: Aamar Deo Singh, Head Advisory at Angel Broking

1:59 PM

European markets check

(Source: Reuters)