Stock Market Highlights: Sensex, Nifty rise at 5 month high, led by ITC, Infosys, Realty stocks.

Sensex, Nifty rise at 5 month high, led by ITC, Infosys, Realty stocks.

Ira Singh
15 May’23

The Indian equity indices cheered gains at 5 month high on Monday, despite concerns over weakness in other Asian stock markets on soft US economic data and global slowdown.

Overseas investors remained net buyers of Indian equities for 13 days in a row on Monday, marking their longest buying spree so far in 2023, according to sources.However,the falling wholesale price index (WPI) inflation into the negative territory for the first time since July 2020, also boosted the sentiments.

At close, the Sensex was up 317.81 points or 0.51 percent at 62,345.71, and the Nifty was up 84.05 points or 0.46 percent at 18,398.85, according to estimates.

Stocks and Sectors

Hero MotoCorp, Tata Motors, ITC, Tech Mahindra and HUL were among the top gainers on the Nifty, while losers were Adani Enterprises, Cipla, BPCL, Divis Labs and Grasim Industries, according to reliable sources.

On sectoral front,all indices ended in the green except for power with the realty index up over 4 percent.

BSE midcap and smallcap indices rose 0.5 percent each.

The Indian rupee fell to a three-week low on Friday and registered it’s worst week in eight, dragged down by a broader strength in the dollar index.
On 15th May’23, the rupee depreciated by 13 paise to close at 82.30 against the US dollar.

Experts take:
Market experts have recommended six buy or sell stocks for Monday— Lupin, Astral, Ujjivan SFB, Tata Motors, HDFC and REC.