In a day marked by fluctuations, Indian equity indices closed marginally higher in a special trading session held on May 18. The Nifty 50 and Sensex both saw modest gains, with several significant gainers emerging in the market. Nestle India, Power Grid Corp, Tata Motors, Hindalco, and ONGC were among the notable stocks that contributed to the positive sentiment.
The Nifty 50 index advanced by 36 points or 0.16%, settling at 22,502 by the end of the trading session. Similarly, the Sensex edged up by 89 points or 0.12%, reaching a closing figure of 74,006. However, amidst the gains, the volatility index shot up by 3.64%, reflecting the underlying uncertainty prevailing in the market.
Sectoral Indices and Market Performance
Sectoral indices witnessed a mixed performance during the session. The Nifty Midcap 100, for instance, hit its all-time high, reaching 51,916.45 points and closing 264.35 points or 0.51% higher at 51,869.25. Conversely, the Nifty Bank closed with a marginal gain of 0.17% at 48,199.50.
Media and realty stocks emerged as the leaders in pushing the indices higher, showcasing strength in these sectors. However, the banking and financial sectors remained subdued, tempering the overall market sentiment. Nevertheless, the broader market exhibited buoyancy, with both smallcap and midcap stocks closing in the green.
Conclusion
The Indian equity market’s special trading session on May 18 witnessed marginal gains, with the Nifty 50 and Sensex closing higher despite underlying volatility. Sectoral indices displayed a mixed performance, with media and realty stocks leading the gains while banking and financial sectors lagged. Expert opinions underscored the need for cautious optimism, with a focus on the broader market’s strength and technical indicators guiding traders in navigating the current market landscape.
