Stock market highlights: Stock market ended on a positive note after Nifty settles above 18200, Sensex up 298 points.

Stock market ended on a positive note after Nifty settles above 18200, Sensex up 298 points.

Ira Singh
19 May’23

The stock market ended with marginal gains registering a winning streak on Friday led by buying in information technology, auto and banking names in a highly volatile session.

The market indices amid mixed cues experienced a lack of decisive direction, though closed the session on a positive note. The optimism in the US market was fuelled by progress in debt ceiling talks and stronger-than-expected jobless claims. However, the prospect of a stronger US economy suggests that the Federal Reserve may keep policy rates elevated for an extended duration, according to experts.

At close, the Sensex was up 297.94 points or 0.48 percent at 61,729.68, and the Nifty was up 73.45 points or 0.40 percent at 18,203.40, according to estimates.

Stocks and Sectors

Adani Ports and Adani Enterprises were top gainers on Nifty, while the other gainers included Tata Motors, Tech Mahindra and Infosys.Divis Laboratories, Britannia Industries, Tata Consumer Products, NTPC and ONGC lost the most in the Nifty bunch.

On sectoral front,information technology index was up 1.4 percent and auto, bank and realty gained 0.5 percent each. The pharma index closed a percent lower, according to reliable sources.

The BSE midcap and smallcap indices underperformed and ended flat.

On 19th May’23, the Indian rupee falls 14 paise to close at 82.76 against US dollar.

Experts take:
Market experts have recommended six stocks to buy for Friday — Marico, Berger Paints, Lemon Tree, Ugro Capital, Shriram Finance and Cipla.