- The Indian stock market indices, Sensex and the Nifty 50, closed higher for the third consecutive session on Tuesday, May 14, despite varying signals from global markets.
- Following a nearly 2 percent decline last week, market benchmarks rebounded this week, buoyed by improved valuations.
- The medium- to long-term prospects for the Indian stock market remain optimistic, supported by the nation’s promising economic growth outlook.
Indian stock market indices Sensex and Nifty 50 continue to rise, marking the third consecutive session of gains. The rebound comes after a nearly 2 percent decline last week, with improved valuations driving the recovery. The outlook remains positive in the medium to long term, backed by promising economic growth.
Market Performance and Key Developments
The Nifty 50 began trading at 22,112.90, slightly up from its previous close of 22,104.05. It fluctuated between an intraday high of 22,270.05 and a low of 22,081.25, ultimately gaining 114 points, or 0.51 percent, to close at 22,217.85. Notably, 36 stocks recorded gains. Meanwhile, the Sensex started at 72,696.72, down marginally from its previous close of 72,776.1. It reached an intraday high of 73,286.26 and a low of 72,683.99, ending the day 328 points, or 0.45 percent, higher at 73,104.61, with 20 stocks registering gains.
Expert Analysis and Stock Recommendations
Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd, noted that the Nifty recovered from lower levels to close with gains of 49 points (+0.2%) at 22104 levels. This was due to likely short covering as well as buying emerging at lower levels. Khemka also highlighted that the markets would take cues from the voter’s turnout data from the 4th phase and India’s retail inflation data. Brokerage firm Motilal Oswal has recommended three stocks to buy this week: Bharti Airtel, Dixon Technology, and Hindustan Copper Ltd.
Conclusion
The Indian stock market continues to show resilience, with the Sensex and Nifty 50 indices closing higher for the third consecutive session. Despite last week’s decline, improved valuations have spurred a rebound, and the medium- to long-term outlook remains positive. Investors should keep an eye on recommended stocks and upcoming economic data for potential investment opportunities.
