Sensex Closes 400 Points Higher, Nifty Above 24,800, Headline Indices End Three-Session Losing Streak

Stock Market News: Headline indices snapped a three-session losing streak on May 21 as the 30-share Sensex closed higher by 410.19 points, or 0.51 per cent, at 81,596.63. On the other hand, the Nifty 50 index gained 129.55 points, or 0.52 per cent, to close at 24,813.45.

Bharat Electronics and Tata Steel Emerge As Top Nifty Gainers

In today's trade, 37 constituents of the benchmark Nifty ended in the green, while 13 closed in the red. Shares of Bharat Electronics, Tata Steel, Cipla, and HDFC Life Insurance emerged as top Nifty gainers as they closed higher by up to 5.26 per cent. On the other hand, IndusInd Bank, JSW Steel Ltd., Kotak Mahindra Bank, and Coal India came out as the top Nifty drags as they closed lower by as much as 1.98 per cent on the NSE.

Nifty Realty and Nifty Pharma Gain

All major sectoral indices gained in trade on May 21. However, Nifty Realty, Nifty Pharma, and Nifty Auto gained the most as they closed 1.72 per cent, 1.25 per cent, and 0.72 per cent higher, respectively. Broader market indices also mirrored the movement of the benchmarks as the Nifty MidCap 100 and the Nifty SmallCap 100 closed higher by up to 0.78 per cent. The India VIX index also closed in the green, up by 0.93 per cent indicating increased volatility.

Global Markets

The US market indices closed in the red ahead of the US Federal Reserve's commentary. The Nasdaq Composite, S&P 500 and Dow Jones Futures finished lower by as much as 0.96 per cent. At the time of writing, European indices such as the FTSE 100, CAC 40 and Dax Performance Index traded in the red, down by as much as 0.75 per cent. Asian indices, apart from Japan's Nikkei 225 traded in the green at the time of writing. The Nikkei 225 traded lower by 0.62 per cent, whereas the Hang Seng, KOSPI, and Shanghai Composite traded higher by up to 0.91 per cent.

Dar Credit and Capital IPO And Belrise Industries IPO Open For Bidding

On May 21, one mainboard issue and one SME issue opened for subscription. Dar Credit and Capital IPO is worth Rs 25.66 crore and consists of a completely fresh issue of 42.76 lakh shares. Shares of the company will debut on the NSE SME platform; the tentative listing date for shares of the company is May 28. Belrise Industries' IPO is worth Rs 2,150 crore and comprises a completely fresh issue of 23.89 crore shares. The company's shares will be listed on the NSE and BSE. The tentative listing date for Belrise Industries shares is May 28.

Market Cues

Investors await the commentary from the US central bank officials to understand the impact of US tariffs on the Federal Reserve's policy. Notably, as many as seven Federal Reserve officials are slated to speak today. Closer home, the rise in Covid-19 cases across multiple states is also likely to be factored in by D-Street in the coming sessions.