Share Market Highlights: Sensex ends at 50,193, Nifty closes at 15,108; M&M, Bajaj Auto top gainers

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Updated: May 18, 2021 4:09:14 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Bulls continued to dominate Dalal Street on Tuesday. Broader markets participated in the rally while India VIX slipped.

Share Market Today, Share Market LiveVolatility index moved lower once again. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Equity benchmark indices continued their positive momentum and surged higher on Tuesday. S&P BSE Sensex closed the day 612 points higher at 50,193, while the Nifty 50 index jumped to end the day at 15,108. Broader markets mirrored the upmove while the Volatility index, India VIX, slipped 1.89%. Mahindra & Mahindra, Bajaj Auto, and Titan company limited were the top index gainers. Bharti Airtel, ITC, Dr Reddy’s and SBI were the only Sensex constituents to end in red. Nifty Auto ended 3.27% higher.  

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Highlights

    16:07 (IST)18 May 2021
    Sensex, Nifty extend rally to second day; are benchmark indices headed towards fresh all-time highs?

    Domestic markets closed in the positive territory for the third consecutive trading session on Tuesday. Bulls once again asserted control, taking the benchmark indices 1.2% higher. Auto Stocks led the rally today, with Mahindra and Mahindra along with Bajaj Auto ending as the top Sensex gainers. Pharma, PSU Banks, and FMCG stocks were some of the laggards. India VIX was again in the red, ending the day at 19.32, down 1.45%. 

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    15:39 (IST)18 May 2021
    CLOSING BELL

    Sensex ends just below 50,200 while the Nifty 50 index closed at 15,108.

    15:08 (IST)18 May 2021
    Nifty Auto jumps 3%

    The Nifty Auto index surged 3.12% on Tuesday, helped by a sharp jump in Ashok Leyland, Mahindra & Mahindra, and Bajaj Auto, all up over 5% each.

    15:08 (IST)18 May 2021
    Multibagger smallcap, midcap stocks: Less leverage, quality management; better bet than large-cap shares?

    Investing in small caps is a dilemma. Investing in small and mid-caps has been manifested with a lot of complexity, information uncertainty and issues of liquidity and impact costs. We believe mid and small-cap stocks display cyclical nature, unlike the large caps that are steadier. Mid and small caps typically have short boom and burst cycles – they are cyclical in nature and best returns can be harvested if you play the cycle right. We have seen enough disruptions – on the macro front, political or geopolitical, and even frequent change in regulations, and these small size companies are more prone to risk under these uncertain environments. 

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    15:00 (IST)18 May 2021
    Nifty just below 15,100

    Nifty 50 is sitting just below 15,100 with half an hour left before today's closing bell. Sensex was shy of 50,200 mark. 

    14:52 (IST)18 May 2021
    Top Sensex gainers

    Mahindra & Mahindra, Bajaj Auto, Bajaj Finance, and Titan Company Ltd are the top gainers on Sensex with less than an hour left to go before the closing bell. 

    14:09 (IST)18 May 2021
    Sectoral watch

    Nifty PSU Bank, Nifty FMCG, and Nifty Pharma were trading in the red on Tuesday afternoon while all other sectoral indices surged higher.

    13:46 (IST)18 May 2021
    Shilpa Medicare share price surges 26% in 2 days on tie-up with Dr Reddy’s for Sputnik V COVID vaccine

    Shilpa Medicare share price surged 13 per cent in intraday deals on BSE after the company tied up with Dr. Reddy’s Laboratories (DRL) for production-supply of the Sputnik V, a COVID-19 vaccine. The stock of the pharmaceutical company has zoomed 26 per cent in the past two trading sessions. So far in trade today, a total of 2.04 lakh shares have exchanged hands on BSE, while 36.41 lakh shares have traded on NSE

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    13:27 (IST)18 May 2021
    Laggards

    Dr Reddy's, ITC, and Bharti Airtel are the only Sensex drags at this hour. Bharti Airtel is the worst Sensex performer, falling 2.3%, followed by ITC's 1%, and Dr Reddy's 0.5%.

    13:02 (IST)18 May 2021
    Midcap, smallcaps zoom

    Midcap and Small-cap stocks were zooming ahead on Tuesday.  Nifty Midcap 50 was up 2.04% while the Small-cap 50 index was up 1.58%. Meanwhile, the Nifty 50 itself was up 1.25%.

    12:45 (IST)18 May 2021
    Big breakout for Nifty

    "Nifty 15,100+. In all probabilities, the big breakout has happened today. Covid situation improving. Re-opening theme likely to play out from next month. Monsoon expected to be normal. Robust US & European Equities New medications/vaccines coming in next two months It all adds up. Markets are forward-looking and it pays to be ahead of the curve," said Rahul Sharma - Head, Technical and Derivatives Research, JM Financial.

    12:31 (IST)18 May 2021
    Base metal update

    "Industrial metal prices picked up in the latter half of yesterday’s trading session as the increase in Yangshan copper premium for the first time in the past couple of months infused optimism of recovery in demand in the world’s largest metal consuming nation, China. The base metals complex remained under pressure in the earlier weeks on signs of stalling demand from China. The gains came despite of the fact that China’s factory activities eased in April’21 in comparison to the earlier month as rising commodity prices and power consumption norms took a hit on their industrial sector. Also, retreating US Treasury yield on fading hopes over an interest rate hike any time soon kept a lid on the greenback which further support the Dollar denominated industrial metals," said Yash Sawant, Research Associate, Angel Broking.

    11:55 (IST)18 May 2021
    ITC joins Bharti Airtel in red

    ITC has joined Bharti Airtel in the negative territory on Sensex. Only these two stocks were trading with losses while others were surging higher. Sensex was just above 50,200 on Tuesday.

    11:41 (IST)18 May 2021
    Gold may trade with positive bias on weaker US dollar

    COMEX gold trades 0.1% higher near $1870/oz after a 1.6% gain yesterday. Gold trades near 3-month high supported by weaker US dollar, dovish Fed comments, increased tensions between Israel and Palestine and pick up in ETF buying. However, weighing on price is improving the virus situation in US and Europe and concerns about consumer demand in India. Gold may trade with a positive bias on the back of weaker US dollar, however, any stability in the equity market may make it vulnerable to profit taking. Ravindra Rao, VP-Head Commodity Research, Kotak Securities Ltd.

    11:37 (IST)18 May 2021
    Nifty may face hurdles at 15,150

    Indian market opens on positive notes on the back of a positive global market news but we need to be cautious as again we have started trading on resistance levels of 15150 & 15200. Market has rallied on back of global positive news as well as initial sign of pick of 2nd covid 19 wave in India. Today the majority of indices are in green S&P BSE BANKEX up by 1.45% while again S&P BSE Telecom trading in red. We expect the market to be volatile and may face hurdles at 15150. Yash Gupta Equity Research Associate, Angel Broking  

    11:34 (IST)18 May 2021
    Gland Pharma share price hits new 52-week high on Q4 results; stock more-than-doubles from IPO price

    Gland Pharma share price surged as high as 9.6 per cent to a fresh 52-week high of Rs 3,061 apiece in intraday on BSE, after the company posted a 34 per cent on-year rise in consolidated net profit to Rs 260.4 crore in Jan-Mar quarter of FY21. Gland Pharma shares made a market debut in November 2020 and were listed at Rs 1,701, as against the IPO price of Rs 1,500. The stock has zoomed 80 per cent from the listing price, while it has more than doubled from the issue price. 

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    11:33 (IST)18 May 2021
    Nifty breakout above 15,045

    Nifty futures OI remained flat while Bank Nifty recorded a huge 16% jump in OI. FIIs added longs in index futures and stock futures. FII index long-short ratio has improved to 46% from a low of sub 42% last week. Huge Put writing seen at 14,700 and 14,800strikes. Next hurdle for Nifty is seen at 15,000/15,045 above which breakout will be confirmed from current range. Supports seen at 14,770/14,850," said Rahul Sharma of JM Financial Services. 

    11:28 (IST)18 May 2021
    Nifty Metal jumps 2%

    Nifty Metal index was up 2% on Tuesday. Hindustan Zinc was up 7%, followed by Hindalco, and SAIL.

    11:27 (IST)18 May 2021
    Tata Power surges 5% so far this week

    Tata Power's share price has jumped 5% so far this week, to now trade at Rs 106.35 apiece. 

    Here's what analysts say --Axis Securities: Raise SoTP-based TP to Rs 115 led by higher value for solar EPC and Renewable generation among other factors. (ADD)

    Kotak Securities: Net debt has been reduced by Rs 76 bn over the past year, primarily through sale of non-core investments, though prospects of Mundra resolution appear bleak in the near-term and options for renewable asset sale are still being explored. Maintain ADD rating with revised FV of Rs110/share.

    Motilal Oswal: We expect Solar EPC to give a leg up to earnings for the next two years. Recent award wins, particularly from NTPC, have seen its EPC order book swell up to ~INR90b, thereby providing strong visibility. We expect EBITDA from Solar EPC to rise at 16% CAGR over FY21-23E to INR4.4b. (Target- Rs 123; Buy)

    11:09 (IST)18 May 2021
    Bharti Airtel stock tanks as new IUC regime hits Q4 results; brokerages say ‘buy’

    Bharti Airtel’s share price fell as much as 2% today, being the only Sensex constituent in red, after the company reported a fall in fiscal fourth quarter net profit and India mobile revenue. Bharti Airtel stock was down 1.8% to Rs 539 per share in the late morning trade. However, brokerage firms still remain bullish on the stock, seeing significant upside potential. Earlier Monday, Bharti Airtel reported that January-March net profit fell 11.12% on a quarter-on-quarter basis, even as the company swung from a net loss in the same quarter a year ago. Revenue from India mobile services business fell 4.5%, led by the new interconnect usage charges (IUC) regime.

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    10:23 (IST)18 May 2021
    Bank Nifty trims gains but still in green

    Bank Nifty index opened 2% higher but has given up half of its opening gains, after one hour of trade. The Index is now up 1%.

    10:15 (IST)18 May 2021
    is 15,200 in sight?

    "The Nifty successfully got past the resistance block of 14850 yesterday and we see a gap up today! We can attempt 15200 on the index. The trend is bullish and dips can be utilized to buy into the index. Good support lies at 14700 and until this does not break on a closing basis, the trend of the market will continue to be strong," said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.

    10:04 (IST)18 May 2021
    Indian rupee strong support in range of 73-73.20

    Overall, we expect that the short-term momentum in USDINR is confined into a narrow range of 73.00-73.60 zone. If the move reverses on the upside and crosses 73.60, then 74.20-50 can be seen on the cards. On the contrary, 73-73.20 will act as a strong support zone. But the probability of breaking lower-end is low as of now. Amit Pabari, managing director, CR Forex Advisors

    09:59 (IST)18 May 2021
    Gold Price Today, 18 May 2021: Yellow metal trades weak, MCX silver tops Rs 74,000; gold to hit Rs 50,500 soon

    Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India were trading lower on Tuesday, even as international spot prices hit a three-and-a-half-month highs on a weak US dollar and growing inflationary pressure which lifted bullion’s appeal as an inflation hedge. On Multi Commodity Exchange, gold June futures were trading Rs 67 down at Rs 48,407 per 10 grams, as against the previous close of Rs 48,474. Silver July futures, on the other hand, surged Rs 728 or nearly one per cent to top Rs 74,052 per kg.

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    09:59 (IST)18 May 2021
    Covid cases declining -- fresh trigger for markets

    "The positive trigger for the market now is the steadily declining fresh Covid cases and the steadily rising recovery rates. The latest numbers indicate a continuation of this positive trend. The market is discounting progressive lifting of the widespread lockdowns starting in early June. Even though growth & earnings will be impacted in Q1, smart recovery can be expected in the subsequent quarters. Sectoral rotation & value buying is pushing up financials particularly banking stocks. The latest trends indicate that the stress in the banking system is not as bad as feared earlier. With progressive unlocking of the economy, credit growth is likely to pick up starting June improving the prospects for frontline financials. Market action is likely to be stock specific in the coming days with the market responding to Q4 numbers & likely trends," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. 

    09:23 (IST)18 May 2021
    Bharti Airtel in red

    Bharti Airtel was the only Sensex constituent to trade with losses on Tuesday morning. The stock fell 0.2% on the opening bell as investors reacted the quarterly results posted by the company. 

    09:19 (IST)18 May 2021
    Bank Nifty up 2%

    Nifty Bank index continued to rally, jumping 2% on the opening bell on Tuesday. IndusInd Bank, SBI, and Axis Bank were among the top gainers. ICICI Bank and HDFC Bank followed close. 

    09:18 (IST)18 May 2021
    Nifty may soon touch 15,050, investors must adopt stock-specific approach; 3 stocks to buy

    The short-term support levels for Nifty and Bank Nifty will be 14150 and 30400, respectively, while 15050 and 36500 will be resistance levels. While for the complete CY21, the support for Nifty is placed at 13600 and for Bank Nifty it is placed at 29000.

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    09:17 (IST)18 May 2021
    OPENING BELL

    Sensex crossed 50,000 on the opening bell as bulls continued to dominate Dalal Street on Tuesday morning. Nifty 50 index was above 15,000. Banking and finance sector stocks were among the best performers. 

    09:05 (IST)18 May 2021
    Sensex touches 49,900

    Sensex was up more than 300 points, inching closer to 49,900 on Tuesday morning. Nifty 50 was above 15,000.

    09:03 (IST)18 May 2021
    Sensex, Nifty surge

    The Nifty 50 index zoomed to breach 15,000 mark during the pre-open session on Tuesday morning. Sensex was above 49,800 mark.

    08:50 (IST)18 May 2021
    Nifty has eyes on 15,000

    "Now, Nifty is again above 14900 and we hope it doesn’t deceive us the way it did in the previous week. But looking at the overall development, it looks like we are going to head higher from heron; because the authenticity of any move is measured by the quality of participation in it and today the banking space led from the front by giving a humongous intraday rally. When this pocket contributes heavily, the up move can be considered a genuine one. Thus, we will not be surprised to see Nifty crossing 14967 at the opening tomorrow to march towards 15044 and beyond levels. On the flipside, 14850 – 14790 are to be seen as intraday supports," said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking.

    08:45 (IST)18 May 2021
    Nifty may reclaim 15,000 in opening trade, SGX Nifty up 1%; 5 things to know before market opens

    Trends on SGX Nifty suggest a gap-up start for BSE Sensex and Nifty 50 with gain of 170 points. The Nifty futures were trading at 15,116 on the Singaporean Exchange. Market participants will continue to watch the COVID-19 cases, January-March quarter earnings, developments related to ongoing vaccination, along with oil prices and rupee movement for further direction. 

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    08:37 (IST)18 May 2021
    Wait for decisive break above 15,000

    "Markets are rejoicing the early signs of virus peak and stability in the global markets. But, we feel participants shouldn’t read much into a single-day rise and wait for a decisive break above 15,000 in Nifty. Needless to say, the performance of the banking and financial pack holds importance. Meanwhile, participants should continue with a positive yet cautious approach and maintain their focus on risk management," said Ajit Mishra, VP - Research, Religare Broking.

    08:36 (IST)18 May 2021
    Traders returning with confidence

    "Nifty rose sharply and ended almost at the intraday high. The next stop on the upside is the 14,966 - 15,044 band. A breach of this band could lead to a challenge to the all-time highs of the Nifty (15432). On falls 14824-14850 band could provide support. A healthy advance-decline ratio suggests the return of confidence of traders in the broader markets," said Deepak Jasani, Head of Retail Research, HDFC Securities.

    08:19 (IST)18 May 2021
    Petrol and diesel price today 17 May 2021: Rates hiked again; prices in Mumbai breach Rs 99 per litre mark

    Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel were once again hiked, making it the 10th time rates have been increased so far this month. Petrol in Delhi today costs Rs 92.85 per litre, up 27 paise from yesterday. Meanwhile, diesel in the capital city costs Rs 83.51 litre today, an increase of 29 paise. Petrol price in Delhi has increased by Rs 2.45 so far in May, while diesel price has surged Rs 2.78 per lire. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.

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    08:13 (IST)18 May 2021
    RIL, Bharti Airtel, Tata Motors, GSK Pharma, Route Mobile, L&T, Union Bank of India stocks in focus

    BSE-listed companies such as Aarti Industries, Abbott India, Torrent Pharmaceuticals, Ujjivan Small Finance Bank, Tata Motors, Canara Bank, Brigade Enterprises, Chalet Hotels, Coromandel Engineering Company, Dolat Investments, GSK Pharma, Jindal Stainless (Hisar), JSL Industries, Jyothy Labs, Minda Corporation, PI Industries and Route Mobile will release quarterly earnings on May 18.

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    07:53 (IST)18 May 2021
    SGX Nifty surged higher

    SGX Nifty is up 150 points during the early hours of trade. Nifty futures surging higher hint at a positive start for domestic stock markets. 

    07:53 (IST)18 May 2021
    Lockdown woes: Joblessness rate near 1-year high; unemployment up in rural areas

    The lockdown has had an immediate, telling effect on the employment scenario in the country. India’s unemployment rate, that has remained elevated for a few weeks, soared to a near one-year-high of 14.45% in the week ended May 16. While an already-high urban joblessness has turned more acute, a near 100% week-on-week rise in rural unemployment pushed the overall joblessness rate to a level not witnessed since the week ended June 7 last year, when it stood at 17.51%.

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    07:52 (IST)18 May 2021
    RBI bulletin: ‘Demand shock biggest toll of second Covid wave’

    The biggest toll of the current second wave of the Covid-19 pandemic is in terms of a demand shock (loss of mobility, discretionary spending and employment, besides inventory accumulation), although aggregate supply is less impacted, the Reserve Bank of India (RBI) said in its latest monthly bulletin on Monday.

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