Stocks

Sensex tops 50,000, Nifty surges above 15,000

Mumbai | Updated on May 18, 2021

Ensuring funds flow to non-profit organisations   -  PTI

Auto, metal stocks maintain momentum

The market remained bullish in the first half on Tuesday with the benchmark indices trading over one per cent higher, led by auto.

After opening on a positive note, the market extended its early gains following positive cues from the Asian market. A decline in the Covid-19 active caseload has also impacted market sentiment.

At 1 pm, the BSE Sensex was ruling at 50,202.79, up 622.06 points or 1.25 per cent. It breached the 50,000-mark to hit the day’s high of 50,295.08. It hit an intra-day low of 49,959.20. Nifty 50, after hitting the day’s high of 15,134.40, was ruling at 15,104.60, up 181.45 points or 1.22 per cent. It hit an intra-day low of 15,043.70.

Bajaj Auto, Titan, Bajaj Finance, Mahindra and Mahindra and Eicher Motors were the top gainers on the Nifty 50, while Bharti Airtel, UPL, ITC, Coal India and Grasim were the top laggards.

FMCG under pressure

While the rally was led by auto and metal stocks, FMCG and pharma stocks came under pressure. On the sectoral front, all indices except Nifty Pharma and Nifty FMCG were in the green.

Nifty FMCG was down 0.18 per cent, while Nifty Pharma was down 0.08 per cent. Meanwhile, Nifty Auto recorded the highest gains and was up 2.82 per cent. Nifty Metal was up 1.53 per cent. Banking and financials, though losing momentum, extended the previous session’s gains. Nifty Bank was up 1.46 per cent, while Nifty Financial Services was up 1.41 per cent.

Broader indices

All the broader indices were also in the green. The Nifty Midcap 50 was up 1.99 per cent, while the Nifty Smallcap 50 was up 1.57 per cent. The S&P BSE Midcap was up 1.79 per cent, while the S&P BSE Smallcap was up 1.28 per cent.

Notably, the volatility index softened 2.51 per cent to 19.12.

Published on May 18, 2021

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