Here’s a summary of market updates for May 16:
- Indian markets are poised to open positively, with GIFT Nifty trends indicating a gain of 123 points for the broader index.
- On May 15, the Sensex dropped 118 points while the Nifty held at the 22,200 mark. The BSE MidCap and Smallcap indices gained 0.6% and 1% respectively.
- Notable sectoral movements included a 1.4% rise in the Nifty PSU Bank Index, while the Nifty FMCG Index was the top loser, down 1%.
- GIFT Nifty suggests a positive opening for Indian markets, with Nifty futures trading around the 22,383 level.
- Asian stocks rose following gains on Wall Street, with Australian, Japanese, and South Korean shares climbing.
- Gold extended gains amid US inflation slowdown, reaching near four-week highs.
- Asian currencies traded higher against the US dollar, while the dollar index was down 0.25%.
- Crude oil prices saw gains, with Brent crude futures up 0.5% and US West Texas Intermediate crude futures rising 0.53%.
- LME commodity prices were mostly up, with increases in Aluminum, Nickel, and Copper.
- FIIs sold shares worth Rs 2,832.83 crore, while DIIs pumped in Rs 3,788.38 crore on May 15.
- Notable companies set to report Q4 FY2024 results include Mahindra and Mahindra, GAIL (India), Vodafone Idea, Biocon, and Hindustan Aeronautics.
