Sensex Closes Nearly 3000 Points Higher, Nifty Inches Near 25,000 Mark As Headline Indices End Two Session Losing Streak

Share Market Today: On May 12 Indian stock market investors rejoiced as the Nifty 50 and the 30-share Sensex opened higher on May 12. The headline indices continued to rally throughout the session ending higher by nearly 4 per cent each.

The 30-share Sensex closed at 82,429.90 up by 2,975.43 points or 3.74 per cent and the Nifty 50 index ended higher by 916.7 points or 3.82 per cent at 24,924.7 levels. The rally followed the bolstering of investor sentiment after India and Pakistan agreed on a ceasefire in the aftermath of the Pahalgam attack.

Adani Enterprises, Infosys and Shriram Finaces Lead Gainers

Shares of Adani Enterprises, Infofys, Shriram Finance and Trent emerged as top-gainers among Nifty 50 stocks as they closed higher by as much as 7.73 per cent. IndusInd Bank Ltd and Sun Pharmaceuticals Ltd closed by as low as 3.45 per cent on the NSE. Only two constituents of the Nifty 50 index ended in the red, while the rest of the constituents ended in the green.

Broader Market Mirror Headline Indices

Amid a broad-based rally, key broader market indices like the Nifty MidCap 100 and the Nifty SmallCap 100 closed higher by up to 4.24 per cent. The fear gauge, or India VIX, also ended lower by 14.97 per cent, signalling decreased volatility in upcoming trade. The Nifty IT, Nifty Metal, and the Nifty Realty index closed higher by up to 6.7 per cent. All major sectoral indices ended in the green on May 12.

Global Markets

Key US-market indices traded mixed on May 11. The Dow Jones Futures index closed higher by over 2 per cent, and the S&P 500 ended lower by 0.7 per cent. On May 12, at the time of writing, key European indices such as the United Kingdom’s FTSE 100, France’s CAC 40, and Germany’s DAX Performance Index traded higher by as much as 1.35 per cent. On the other hand, key Asian markets traded in the green as trade tensions between the US and China eased. Notably the Nikkei 225, Hang Seng index and Shanghai Composite index traded higher by up to 2.89 per cent.

Srigee DLM and Manoj Jewellers Listing

Shares of Srigee DLM Ltd and Manoj Jewellers Ltd listed on the exchanges on May 12. Srigee DLM shares made a stellar debut on the BSE SME platform as they listed with a premium of 90 per cent over the issue price. The stock listed at Rs 188.1 apiece on the BSE SME platform. On the other hand shares of Manoj Jewellers listed with at Rs 53.95 on BSE SME with a discount of 0.09 per cent.

Indo-Pak Ceasefire

A ceasefire has been declared between India and Pakistan. India has announced that any future act of terror will be considered an act of war and will be responded to accordingly. While no ceasefire violations were observed on May 12, the market is expected to factor in the same if such an event occurs in the upcoming days.