Share Market News Today: Sensex, Nifty opened higher on May 26. The Sensex opened at 81,928.95 level up by 207.87 points or 0.25 per cent and the Nifty 50 opened at 24919.35 level up by 0.26 per cent. Stock market investors are expected to closely watch crude oil prices key sectoral trends, and other major macroeconomic developments.
Nifty Gainers In Early Trade
Among the Nifty 50 pack Mahindra & Mahindra, Powergrid Corporation of India Ltd and Hindalco emerged as the biggest gainers in early trade as they surged up to 1.73 per cent soon after trading activity started. Mahindra & Mahindra share price surged 1.73 per cent to Rs 3,064.90 apiece on the NSE. On the other hand shares of Eternal, Shriram Finance and Maruti Suzuki India Ltd declined the most among Nifty 50 stocks in early trade. Eternal share price declined 3.59 per cent to Rs 229.02 making it the biggest loser in early trade. As many as 47 out of 50 constituents of the benchmark index traded in the green at the time of writing.
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Broader Market Indices Mirror Headline Indices
The broader market indices traded higher in early trade with the Nifty Midcap 100 trading 0.33 per cent higher at 56,872.95 levels and the Nifty Smallcap 100 trading 0.31 per cent higher at 17,698.8 levels. Among the sectoral pack the Nifty Pharma and Nifty Bank index gained the most in early trade as they traded up to 0.5 per cent higher.
US Market End Lower, Asian Indices Gain In Early Trade
US President Donald Trump threatened tech giants such as Apple and Samsung with a 25 per cent import tax on mobile devices manufactured outside the US. Notably this stirred trade tensions leading to US indices ending the week on a negative note on May 23.
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The S&P 500 and the Nasdaq Composite ended lower in Friday’s trade closing by as low as 1 per cent. On the other hand the Dow Jones Futures ended Friday’s session by gaining 0.82 per cent.
Asian indices started the week on a positive note with the Tokyo based Nikkei 225 and Topix gaining 0.45 per cent and 0.25 per cent in early trade after opening in the green. South Korea’s Kospi traded higher by 1.36 per cent in early trade. The Hong Kong based Hang Seng traded lower by 0.6 per cent in early trade and Shanghai Composite index traded 0.14 per cent higher at the time of writing.
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Commodity Trade
On May 26 the US Dollar Index (DXY) opened slightly lower before slumping 0.33 per cent to the 98.78 level at the time of writing. Notably the index measures the strength of the US Dollar by comparing it to a basket of major currencies. Other crucial commodities such as crude oil trended higher with the Brent Oil Futures - Aug 25 and Crude Oil WTI Futures - Jul 25 trading higher by up to 0.23 per cent. According to the Goodreturns website 10 grams of gold of 24-carat purity gold rate is trading at Rs 98,220, while 22-carat gold is trading around Rs 90,040.
