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Taking Stock | Nifty ends near 15,200 led by financials; mid & small-cap outshine

Except for FMCG and metal, all other sectoral indices ended in the green. BSE Midcap and Smallcap indices rose 0.7-0.8 percent.

May 24, 2021 / 04:19 PM IST

Indian market ended higher for the second consecutive session on May 24 led by financial names. At close, the Sensex was up 111.42 points or 0.22% at 50,651.90, and the Nifty was up 22.40 points or 0.15% at 15,197.70.

"Due to a steady decline in fresh COVID cases and hopes of the lockdown being lifted sooner has helped the domestic market extend its gains. Positive quarterly earnings and easing asset quality woes helped banking stocks to attract buying interest while mid and small-cap stocks outperformed," said Vinod Nair, Head of Research at Geojit Financial Services.

"On the global front, UK and US Manufacturing PMI data reported record-high numbers, however, investors are awaiting inflation data for guidance on monetary policy," he added.

Except for FMCG and metal, all other sectoral indices ended in the green. BSE Midcap and Smallcap indices rose 0.7-0.8 percent.

IOC, BPCL, SBI, Larsen and Toubro and Axis Bank were among the top gainers on the Nifty, while losers were Shree Cements, JSW Steel, Tata Steel, Britannia Industries and Tata Consumer Products.

Close

Stocks & sectors

On the BSE, capital goods, realty, power and oil & gas added over a percent each.

Among individual stocks, a volume spike of more than 100 percent was seen in Cadila Healthcare, CONCOR and SAIL.

IndexPricesChangeChange%
Sensex52,551.5376.77 +0.15%
Nifty 5015,811.8512.50 +0.08%
Nifty Bank34,950.60-96.80 -0.28%
Nifty 50 15,811.85 12.50 (0.08%)
Mon, Jun 14, 2021
Biggest GainerPricesChangeChange%
Tata Motors355.955.20 +1.48%
Biggest LoserPricesChangeChange%
Adani Ports768.45-71.30 -8.49%
Best SectorPricesChangeChange%
Nifty PSU Bank2488.7514.45 +0.58%
Worst SectorPricesChangeChange%
Nifty Metal5371.60-35.20 -0.65%

Long buildup was seen in Muthoot Finance, Mindtree and Cadila Healthcare, while short buildup was seen in TVS Motor, JSW Steel and Britannia Industries.

More than 350 stocks, including Adani Green Energy, IOC and Kalpataru Power, hit a fresh 52-week high on the BSE.

Technical View

The Nifty formed a small-bodied candle on the daily scale while it has been forming higher high - higher lows from the last two sessions.

"Nifty has to hold above 15,150 zones to witness an up move towards 15,300 then lifetime high of 15,431 marks. On the downside, support exists at 15,000 and 14,900 zones," said Chandan Taparia of Motilal Oswal Financial Services.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Rakesh Patil
first published: May 24, 2021 04:19 pm

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