Stock market highlights: Stock market indices ended lower for the third day; Nifty closes below 18150 points, Sensex falls below 130 points.

Stock market indices ended lower for the third day; Nifty closes below 18150 points, Sensex falls below 130 points.

Ira Singh
18 May’23

The Indian equity indices pared gains and ended Thursday’s session in the red,amid mixed set of economic data weighing on investor sentiments.

At close,Nifty declined 51.80 points or 0.28 percent to 18,129.95;and Sensex dropped 128.90 points or 0.21 percent at 61,431.74.

Stocks and Sectors

Divis Laboratories, Adani Ports, Titan Company as well as SBI, which posted better than expected numbers for the March quarter, and ITC, whose fourth quarter performance was largely along expected lines, were among the biggest losers on the Nifty. Bajaj Finance, Kotak Mahindra Bank, Bharti Airtel, ICICI Bank and Asian Paints were the biggest gainers, according to reliable sources.

On sectoral front,all sectoral indices ended in the red, except bank.Realty, oil & gas, PSU bank, power, pharma, FMCG and capital goods were up to 2 percent each.

The BSE midcap index shed 0.67 percent and smallcap index declined 0.26 percent, according to estimates.

On 18th May’23,the Indian rupee depreciated 4 paise to close at 82.41 against US dollar,as weak Asian peers and strong American currency weighed on investor sentiments.

Experts Take:
Market experts have recommended five buy or sell stocks for Thursday — UPL, Bharat Forge, Federal Bank, HUDCO and Indian Hotels Company.