FIRST TRADE: Indices open lower amid weak global cues; Nestle down 2%, ONGC up over 1%

Stock market today: The Indian share market on Tuesday (May 21) traded lower as hawkish comments from key U.S. Federal Reserve officials weighed on investor sentiment, while sustained foreign selling ahead of the final two phases of national elections was expected to keep volatility high.

Last seen, Sensex was down 91.44 points or 0.11 per cent at 73,925.44 and NSE Nifty was up 20.05 points or 0.10 per cent at 22,480.4. 

"With five stages in the seven-stage elections completed, the market is slowly showing signs of stability. The negative trigger of sustained FII selling also seemed to be over when the FIIs turned buyers last Friday. The prime minister has hinted about a sharp rally in the market after June 4. The market is likely to move ahead before the election results since the market is smart enough to anticipate the results," said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Dr. V K Vijayakumar added the Q4 results are generally good with decent revenue and PAT growth. Among sectors, financials particularly banking, automobiles particularly two-wheelers, capital goods, real estate, and pharmaceuticals have come out with impressive results and their prospects, too, look good. Watch out for these sectors since they are likely to lead in an election results-related rally.

In the broader market, Nifty Midcap 100 and Smallcap 100 traded lower. High-beta Nifty Bank was down 0.14 per cent at 48,133.35.

BUZZING STOCKS

BEL shares were up over 8 per cent after the company's posted its Q4 results.

Balkrishna Industries shares were up over 6 per cent after the company reported better than expected Q4 results.

SAIL shares were up over 2 per cent after the company reported strong Q4 results.

Whirpool of India shares were up over 2 per cent after the company reported Q4 results.

Kalpataru Projects International shares were up over 7 per cent after the company was selected for EPC contract by Aramco. 

ONGC shares were up over 1 per cent after Q4 results.

Conversely, City Union Bank shares were down over 5 per cent after the company posted its Q4 results. 

CG Power shares were down over 2 per cent after reports suggested 65 lakh shares to change hands via block deals. 

Lupin shares were down over 2 per cent after USFDA conducted a pre-approval inspection of the company's Somerset, New Jersey manufacturing facility.

Catch all the updates of the May 21 session on Dalal Street here. For all other news related to business, politics, tech and auto, visit Zeebiz.com. 

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