Stock market today: Domestic equity benchmarks Nifty50 and Sensex gained on Tuesday, May 14 amid buying in broader markets led by gains in oil & gas, automobile, and metal stocks. The leaner Sensex index rose 328.48 points, or 0.45 per cent, to settle at 73,104.61. The 50-share index Nifty settled at 22,217.85, up 113.8 points, or 0.51 per cent.

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Among the Nifty companies, 36 stocks were advancing while 14 were declining. Adani Enterprises, M&M, Hero MotoCorp, ONGC, and L&T led the gains, while Cipla, TCS, Tata Consumer Products, Nestle India, and Axis Bank were the top decliners.

"The domestic market has sustained its recovery path from recent lows, aided by a moderation in India’s CPI and favourable signals from its Asian peers. However, investors are cautious ahead of the upcoming U.S. CPI data, which is anticipated to show a slight increase from the previous month and could raise concerns about rate cut expectations. Volatility and range-bound trading are likely to persist in the near term, given the ongoing uncertainty surrounding the low turnout," Vinod Nair, Head of Research, Geojit Financial Services said.

The domestically focussed Nifty SmallCap 100 and Nifty MidCap100 jumped 0.98 per cent and 2.03 per cent, respectively amid broad-based buying.

Nifty metal gained 2.77 per cent during the session. Meanwhile, Nifty IT settled 0.15 per cent higher ahead of US consumer price inflation data, due on Wednesday. In addition, Nifty Bank closed 0.22 per cent higher. 

Aluminium producer Hindalco added about 2 per cent after its unit Novelis made public its filing for an initial public offering in the United States.

PepsiCo bottler Varun Beverages gained 0.86 per cent after beating fourth-quarter profit expectations on Monday.

Global Market

European shares were subdued as investors braced for a key US inflation data as well as Federal Reserve Chair Jerome Powell's remarks due later in the day. The pan-European STOXX 600 was sluggish at the last count. 

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