Benchmark indices ended lower in a volatile session; realty, and PSU drags, only FMCG outshines

Sudarshan Chemicals ended higher by 19.54 per cent after trading lower in the last few sessions. The shares ended Rs 510.45, on the BSE today.

Market update at 3.30 PM: The indices fell after rising considerably mid-session. Sensex plunged 109.94 points or 0.20 per cent while Nifty 50 was able to retain above the 16,200 level and ended lower by 0.12 per cent. Nifty Midcap 100 and Nifty Smallcap 100 slipped over 0.22 per cent & 0.39 per cent, respectively.    

Pharma and FMCG sectors remained positive until the end whereas the rest closed in negative. Nifty Realty slipped about 1.75 per cent while Nifty PSU Bank fell by 1.57 per cent.  

Tata Consumer Products, Shree Cement, and Hindustan Unilever emerged as the top gainers among Nifty stocks while Power Grid Corporation of India, BPCL, and Tech Mahindra were the top losers.    

Nifty formed an inverted hammer-like candle, which is a bearish sign. The 16,200-level will be watched as a strong support level and any fall below this level will be met with negativity.  

Market Update at 1 PM:  When the European market opened, the Indian benchmark indices slipped into the red territory. Inflation in the United Kingdom has reached 9 per cent, the highest level since 1982. Nifty is currently down by 11 points while Sensex has plunged 68 points. Sensex Midcap index fell 30 points whereas BSE Smallcap index rose 49 points. 

Nucleus Software Exports rose 14.81 per cent to Rs 452.85 after reporting a 112.2 per cent increase in its total net profit.

Orient Bell's stock got locked in the upper circuit after its consolidated net profit increased by 100.12 per cent in March 2022 quarter. 

Market Update at 12 PM:  Sensex and Nifty 50 indices have consolidated by a small margin and are now trading with gains of 0.61 per cent & 0.57 per cent, respectively. 

Except for realty and telecom, all sectors on Sensex are trading in the green. Power and utilities are the leading gainers.

Nifty Midcap & Smallcap indices are up by 0.46 per cent and 0.91 per cent, respectively. Meanwhile, Bank Nifty has also gained 235 points and now trades at 34,537.

Adani Ports, Tata Consumer, Bajaj Auto, Axis Bank, and Cipla are among the top gainers on Nifty 50 index. Power Grid Corporation of India, Bharti Airtel, Apollo Hospitals, and BPCL are among the index's top losers.

The advance-decline ratio, which indicates the market's overall health, was strong with 2,238 shares rising and 904 falling. A total of 138 shares remained unchanged. 

Market update at 10.15 AM: Indian indices have advanced in the morning session. Sensex and Nifty climbed 0.81 per cent & 0.85 per cent, respectively.  

On BSE, all the sectors are trading in the green while IT and power sectors have gained the most. India VIX is down by over 1.58 per cent.   

Axis Bank, JSW Energy, and Axis Bank emerged as the top gainers of Sensex.   

LIC is trading at Rs 884, up by a per cent during Wednesday’s morning session. 

The following are the top trending stocks today morning. 

Pre-Market Update: Following global trends, the US market ended significantly higher on Tuesday. NASDAQ rose 2.76 per cent while Dow Jones rose 1.34 per cent. In the Asian markets, Hang Seng index is trading in red while the KOSPI and Nikkei 225 are trading in green.  

The FIIs sold equity worth Rs 2,192.44 crore on May 16 while the DIIs bought equities worth Rs 2,294.22 crore.  

The IPO of Ethos Limited begins today. On the other hand, the IPO of Paradeep Phosphates was subscribed just 0.29 times on Day 1. Today, ITC, Pidilite Industries, and Lupin will announce their results.

Brent crude has dropped to $112 per barrel, down by $114.

Meanwhile, the broader markets in India may have a bearish start as SGX Nifty futures is down by 0.17 per cent.