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Barometers trade firm; Nifty hovers near 16,200

Published on May 20, 2022 14:35

The equity indices trimmed gains after hitting fresh intraday high in mid-afternoon trade. All the sectoral indices on the NSE were in the green with metal, realty and pharma index gaining the most. The Nifty was trading near the 16,200 mark. The sentiment got a boost after China cut its key lending rates and India`s Finance Minister projected 8.9% GDP growth for FY23.

At 14:25 IST, the barometer index, the S&P BSE Sensex, jumped 1,269.69 points or 2.41% at 54,061.92. The Nifty 50 index advanced 385.40 points or 2.44% at 16,194.80.

In the broader market, the S&P BSE Mid-Cap index added 1.72% while the S&P BSE Small-Cap index rose 1.86%.

The market breadth was strong. On the BSE, 2,497 shares rose and 774 shares fell. A total of 149 shares were unchanged.

Numbers to Track:

The yield on 10-year benchmark federal paper rose to 7.359% as compared with 7.320% at close in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 77.5925, compared with its close of 77.56 during the previous trading session.

MCX Gold futures for (3 June 2022) settlement rose 0.32% to Rs 50,704.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, advanced 0.26% to 102.99.

In the commodities market, Brent crude for (June 2022) settlement fell 36 cents or 0.32% at $ 111.68 a barrel.

Buzzing Index:

The Nifty Realty index jumped 3.94% to 400. The index lost 4.31% in the past two sessions.

Macrotech Developers Ltd (up 7.48%), Phoenix Mills Ltd (up 5.63%), Prestige Estates Projects Ltd (up 5.33%), Sunteck Realty Ltd (up 5.06%) and DLF Ltd (up 3.28%) were the top gainers.

Earnings Impact:

ITC rose 1.56% to Rs 279.95, extending its winning run to fourth consecutive trading session.Shares of the FMCG company have rallied 10.45% in four trading sessions from its previous closing low of Rs 254.05 posted on 16 May 2022. The counter hit a 52 week high of Rs 282.30 in intraday today. The stock has zoomed nearly 40% from its 52-week low of Rs 200.85 recorded on 9 July 2021.

Anupam Rasayan India slumped 2.11% to Rs 754.25, extending losses for the fifth trading session. Shares of Anupam Rasayan India have fallen 5.10% in five trading sessions from its recent closing high of Rs 796.60 on 13 May 2022. The company`s board will meet on 24 May 2022 to consider raising funds through issue of equity shares, and or bonds.

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