- Indian stock market benchmarks, the Sensex and the Nifty 50, ended in positive territory for the third consecutive session on Tuesday, May 14, amid mixed global cues.
- After a nearly 2 per cent fall last week, market benchmarks rebounded this week due to some comfort on the valuation front.
- The medium- to long-term outlook for the Indian stock market remains positive due to the nation’s bright economic growth outlook.
Indian stock market benchmarks end in positive territory for the third consecutive session, rebounding after a 2% fall last week. The long-term outlook remains positive due to India’s bright economic growth outlook.
Global Market Outlook
Global markets were mixed ahead of the US inflation prints. The US producer price index data for April is due later today, but the main focus is on the April US CPI data, which will be out on Wednesday. The market expects US CPI to see a year-on-year rise of 3.4 per cent in April against a 3.5 per cent rise seen in March.
Indian Market Performance
Nifty 50 opened at 22,112.90 against its previous close of 22,104.05 and touched its intraday high and low of 22,270.05 and 22,081.25 respectively. The index closed with a gain of 114 points, or 0.51 per cent, at 22,217.85, with as many as 36 stocks in the green.
Top Nifty 50 Gainers and Losers
Shares of Adani Enterprises (up 5.40 per cent), Mahindra and Mahindra (up 4.01 per cent) and Hero MotoCorp (up 3.37 per cent) ended as the top gainers in the Nifty 50 index. On the other hand, shares of Cipla (down 3.99 per cent), TCS (down 1.16 per cent) and Tata Consumer Products (down 1 per cent) ended as the top losers in the index.
Conclusion
Despite mixed global cues, the Indian stock market has shown resilience with benchmarks ending in positive territory for the third consecutive session. The market’s rebound after a 2% fall last week, along with the positive long-term outlook due to India’s bright economic growth, indicates a promising future for the Indian stock market.
