Major indices Sensex and Nifty ended flat on May 11 with a negative bias, as gains in Hindustan Unilever, Asian Paints and ICICI Bank shares were offset by losses in Larsen & Toubro and Reliance Industries.
While government data on May 10 showed the US consumer price index (CPI) grew at a slower pace of 4.9 per cent year-on-year in April compared with a 5 per cent rise in March, global cues were mixed. Market participants and analysts expect the Fed to hold off on rate hikes.
Meanwhile, China’s consumer prices rose at their slowest pace in more than two years. Consumer prices rose 0.1 percent in April, compared with a year-over-year increase of 0.7 percent in March.
The Sensex opened 218 points higher at 62,158.10 against its previous close of 61,940.20, but traded rangebound during the session, reaching a high and low of 62,168.22 and 61,823.07, respectively.
The index finally closed at 61,904.52, down 36 points, while the Nifty closed at 18,297, down 18 points.
Sensex closed in the red led by losses in select heavyweights. Overall, the broader markets were positive and 140 stocks including Bajaj Auto, Tata Motors, UltraTech Cement, ONGC, BPCL, InterGlobe Aviation (Indigo), Power Grid Corporation and Siemens hit their 52-week highs in intraday trade on BSE. Went. ,
Mid and Smallcaps fared better, with the BSE Midcap index rising 0.36 per cent, while the Smallcap index closed up 0.68 per cent.
Meanwhile, crude oil prices gained further on strong fuel demand in the US.
“Oil prices rose for the fifth day in the last six as strong fuel demand in the US raised concerns about raising the country’s debt ceiling to prevent the world’s biggest oil producer and consumer from defaulting on its debt,” Reuters reported. overtook the running line.”
Top Nifty Gainers and Losses
Adani Enterprises (up 5.07 per cent), Asian Paints (up 3.34 per cent) and Hindustan Unilever (up 2.67 per cent) closed as top gainers in the Nifty index.
In contrast, Dr Reddy’s Labs (down 6.93 per cent), Larsen & Toubro (down 5.09 per cent) and Hindalco (down 3.49 per cent) ended as top losers in the Nifty pack.
In the Nifty pack, 29 stocks ended in the green while 21 closed in the red.
(more to come)
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