Sensex Declines Over 200 Points, Nifty Holds 25,000, Broader Market Indices Extend Gains For Fifth Session

Stock Market Today: Headline indices ended flat with a negative bias on May 16 with the Sensex closing lower by 200.15 points or 0.24 per cent at 82,330.59. The Nifty 50 ended lower with 42.3 points or 0.17 per cent at 25,019.80 levels.

Bharti Airtel, HCL Technologies and Infosys Lead Losers

As many as 24 stocks which are a part of the Nifty 50 index closed in the red and 26 stocks closed in the green. Bharti Airtel Ltd and HCL Technologies Ltd fell the most among constituents of the Nifty 50 index as they closed lower by up to 2.83 per cent. Bharat Electronics, Tata Consumer Products Ltd and Bajaj Auto shares closed higher by up to 3.82 per cent.

Broader Market Indices Extend Gains

On May 16 the broader market indices continued their gaining spree as the Nifty MidCap 100 and the Nifty SmallCap 100 closed higher by up to 1.86 per cent. The Nifty Auto and the Nifty Realty index closed higher by up to  1.63 per cent amid broad-based selling in the stock market. The Nifty IT index fell the most among the sectoral pack, closing lower by 0.84 per cent.

Global Markets

Key US indices such as the Dow Jones Industrial Average and the S&P 500 closing higher by up to 0.41 per cent. On the other hand the Nasdq Composite ended lower by 0.18 per cent. At the time of writing most key European indices traded in the green zone with the FTSE 100, CAC 40 and DAX Performance Index surging 0.66 per cent. Key asian indices traded in the red at the time of writing with the Hang Seng and the Shanghai Composite index trading 0.46 per cent lower.

Primary Market Action

The bidding window of Accretion Pharmaceuticals IPO is expected to close today on May 16. Accretion Pharmaceuticals plans to raise Rs 29.75 crore through a completely fresh issue of 29.46 lakh shares.

Market Cues

D-street is likely to factor in several macroeconomic triggers over the next few sessions such as India’s unemployment rate for people aged 15 years, the unemployment rate in the month of April was 5.1 per cent. On the other hand the US producer inflation fell in April with the producer price index (PPI) declining by 0.5 per cent in April.