FIRST TRADE: Sensex, Nifty subdued; Cipla up over 3%, Bharti Airtel up over 1%

Stock market today: Domestic blue-chip indices Sensex and Nifty were muted with a positive bias in the morning deals on Wednesday (May 15) from the previous close. The benchmark indices extended the week's gains, as investors await U.S. inflation print for possible rate cut clues, with Canara Bank and JSW Energy in focus after their inclusion in the emerging markets index.

At around 9:16 a.m., Sensex was up 63.66 points or 0.09 per cent at 73,168.27 and NSE Nifty rose 36 points or 0.16 per cent at 22,253.85.

"Despite Chairman Powell's remarks offering little new insight, optimism prevailed as major Wall Street indices approached record highs. However, looming uncertainty surrounds a potential September US rate cut, contingent upon inflation data due for release soon. Amidst this backdrop, Nifty's options data hints at a trading range of 22000-23000, with strategic support and resistance levels identified," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. 

Tapse added FIIs sold shares worth Rs 4066 crore, while Corporate India awaited Q4 results from prominent names.

Meanwhile, in the broader market, Nifty Midcap 100 and Smallcap 100 traded higher. High-beta Nifty Bank was flat with a negative bias at 47,823.1.

BUZZING STOCKS

Bharti Airtel shares were up over 1 per cent after the company's posted its Q4 results.

Siemens shares were up over 7 per cent after the company reported strong Q4 results.

Oberoi Realty shares were up nearly 5 per cent after the company reported strong Q4 results. 

Radico Khaitan shares were up over 2 per cent after the company posted good Q4 results.

Bharti Hexacom shares were up over 3 per cent after the company reported good Q4 numbers.

Cipla shares were up over 3 per cent after the pre open 2.5 per cent equity changed hands.

GLOBAL MARKETS 

Asian stocks rose on Wednesday while the dollar drifted lower as traders weighed mixed U.S. producer price data and braced for the crucial consumer price report later in the day that is likely to influence the Federal Reserve's near-term policy path.

(With inputs from agencies.)

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