The stock market indices trade flat amid volatility; Mankind pharma and UPL in focus
Ira Singh
9 May’23
The benchmark stock indices ended on a flat note amid mixed global cues and Q4 earnings on Tuesday.
According to experts,the US inflation rate which is expected to remain unchanged at its March level of 5 percent,is causing worries that the Fed will remain stricter for a longer period.However, sustained support from foreign institutional investors (FIIs) is preventing a steep correction in the domestic market.
At close,the Nifty was up by 1.55 points or 0.01 percent at 18,265.95,and Sensex ended the day nearly flat, down 2.92 points at 61,761.33.
Stocks and Sectors
Divi’s Labs was the largest gainer, followed by IndusInd Bank, Coal India, TCS and Axis Bank,on the Nifty.UPL was the biggest loser, down 3.03 percent followed by SBI, ITC and Bajaj Finance, according to sources.
On sectoral front,Nifty PSU Bank was the biggest loser, down over 2 percent followed by Nifty Realty. Nifty IT and Nifty Auto was among gainers, according to reliable sources.
On 9th May’23, the Indian rupee falls 27 paise to close at 82.05 against US dollar.
Experts Take:
Market experts have recommended six stocks to buy for Tuesday— HDFC Life, HPCL, JSW Steel, ONGC, Shriram Finance and IndusInd Bank