Tuesday, May 17, 2022
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BSE Sensex, NSE Nifty open marginally lower on Monday after last Thursday’s gains

After a good show on Thursday, the Sensex and Nifty today opened slightly lower with Sensex trading at 30965.25, down by 194.37 points or 0.60% while the Nifty in the opening trade was down by 35.30 points or 0.40% at 9,076.60. Markets were closed on Friday.   

The top performers on Sensex on Monday when the markets opened were BEML, Maharashtra Scooters, JK Lakshmi Cement, HEG Limited and Ge T&D India Ltd, while Tube Investments of India, Bandhan Bank, Godrej Consumer Products, Cholamandalam Investment and Fin Co were top losers.

Meanwhile, top gainers on Nifty were Mahindra & Mahindra, Maruti Suzuki, Cipla, Titan Company and Tata Motors. The top losers on Nifty were Hindustan Unilever, Dr Reddy’s, Tech Mahindra, Indusind Bank, Nestle India.

Indian equity, money and commodity markets were closed on Friday on account of Good Friday.

On Thursday both Sensex and Nifty ended the day on a higher note on the back of robust buying in pharma, auto and FMCG stocks on hopes that the coronavirus pandemic was nearing its peak globally.

While the 30-share Sensex ended the day at 31159.62 up by over 1265 points or 4.23% while the broader market Nifty closed at 9111.90 gaining over 363 points or 4.15%. The Sensex gained as much as 13% on a weekly basis.

On Thursday, the benchmarks opened higher taking global cues in key equity indices on hopes of the COVID-19 pandemic approaching its peak. Investors globally turned optimistic over prospects of slowing pace of fresh COVID-19 cases amid the tightened lockdowns across the world by governments with announcements of resumption of operation in key sectors including automobile.

Global shares fell on Monday as investors braced for more signs of economic damage from the coronavirus pandemic, Reuters reported. Among the global indices, the Nikkei fell 1.4% while MSCI`s showed a slight southward movement. US’S&P 500 mini futures dropped 1.54%, erasing a brief gain to a one-month high made right after the start of trading.

Financial markets in Australia and Hong Kong were closed while in mainland China, the CSI300 index lost 0.6% in early trade.

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US West Texas Intermediate (WTI) crude futures were up 7.3% at $24.43 per barrel in highly volatile trade, having fallen more than 3% to $22.03 earlier in the session.

(With inputs from Reuters)  

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