Nifty gains 49 points to end at 18,315, Sensex settles at 61,940.20
At close, the S&P BSE Sensex closed the session at 61,940.20, up 179 points, or 0.29 per cent.
The equity markets ended on a positive note on May 10, 2023. At close, the S&P BSE Sensex closed the session at 61,940.20, up 179 points, or 0.29 per cent while the NSE's Nifty ended at 18,315.10, up 49 points, or 0.27 per cent. IndusInd Bank (up 3 per cent) was the top gainer on the index while Infosys (down 0.6 per cent) was the biggest loser. In the broader market, the S&P BSE SmallCap index ended 0.33 per cent higher at 29,440.08 while the S&P BSE MidCap index settled at 26,191.25.
"The domestic market traded near the flatline, oscillating between gains and losses as investors refrained from taking a firm direction due to the uncertainties surrounding the US market. Globally, investors exercised caution in anticipation of US inflation data and a meeting between US political leaders to discuss fiscal concerns. Oil prices edged lower as industry data revealed a surprise surge in US crude stock, indicating a potential weakness in demand," said Vinod Nair, Head of Research at Geojit Financial Services.
SECTOR WATCH
All the sectoral indices, barring metals and tech, ended in the green. The S&P BSE Services gained the most - 0.95 per cent. Next on the list was realty and oil & gas stocks. On NSE, Nifty Bank ended 133 points higher at 43,331.05. "Bank Nifty witnessed a strong recovery by the bulls after a weak start. The support level at 43,000 demonstrated a strong demand zone. Currently, there is immediate resistance at 43,500, and surpassing this level would clear the way for further gains toward 44,000. Market participants are keeping a close eye on the upcoming US CPI inflation data, and positive comments by the Federal Reserve Chairman have the potential to restore momentum in the market," said Kunal Shah, Senior Technical & Derivatives Analyst at LKP Securities.
BUZZING STOCKS
Latent View Analytics shares tumbled a day after the data analytics company reported a weak set of Q4 results. The Latent View stock fell 10 per cent to Rs 337.1 apiece on the BSE. Shipping Corporation of India (SCI) jumped over 5 per cent to Rs 99.64 after strong March quarter numbers. After a solid debut, Mankind Pharma witnessed some profit-booking in Wednesday's session. The stock ended nearly 3 per cent lower at Rs 1,381.80.
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