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Live: Will Nifty Follow US peers on weekly expiry day? M&M, HAL & Dixon in focus | Opening Bell

Indian equity market is expected to remain in consolidation mode unless and until it decisively surpasses 22,300, the key hurdle for the Nifty 50, in the coming sessions, but the mood at broader markets remain strong. The index is likely to march towards 22,500-22,600 area if it gives a strong close above 22,300 and manages to sustain above the same for few more days, while the 22,000 is going to be key support area and is unlikely to get broken in an immediate term, experts said. On May 15, the BSE Sensex ended the volatile session on a negative note, falling 118 points to 72,987, while the Nifty 50 was down 17 points at 22,201. Both the indices had maintained upward journey in the previous three straight sessions. Meanwhile, on the broader markets front, the Nifty Midcap 100 and Smallcap 100 indices gained 1 percent and 0.6 percent respectively on positive breadth. This morning GIFT Nifty is hinting at a strong up move today. M&M & HAL will report earnings today. Catch Nandita Khemka decode the cues for trade with Siddarth Bhamre, head of research, Asit C Mehta Investment Intermediates and Vaishali Parekh, vice president, technical research, Prabhudas Lilladher.

first published: May 16, 2024 12:51 pm