On May 15, Indian markets concluded slightly lower, anticipating significant US inflation data that could influence the Federal Reserve's rate decisions. Top Gainer: COALINDIA | Top Loser: TATAMOTORS

Liquide Post-Market Summary 15th May 2024

On May 15, Indian markets concluded slightly lower, anticipating significant US inflation data that could influence the Federal Reserve's rate decisions. Concurrently, the broader markets saw gains, with the BSE MidCap rising by 0.6% and the Smallcap by 1%.

The Sensex closed at 72,987 points, down 0.08%, while the Nifty closed at 22,200. Among sectoral indices, the Nifty PSU Bank Index led the gainers, rising by 1.4%, trailed by Nifty Realty and Oil & Gas, both increasing by 1%. However, the Nifty FMCG Index fell 1% while Nifty Auto was down by 0.5%. Both the Nifty Bank and Nifty Private Bank indices slipped by 0.3% each.

NIFTY:  The index opened 38 points higher at 22,255 and made a high of 22,297 before closing at 22,200. Nifty has formed a bearish candlestick pattern with minor upper & lower shadows on the daily chart. Its immediate resistance level is now placed at 22,300 while immediate support is at 22,150.

BANK NIFTY: The index opened 64 points higher at 47,923 and closed at 47,687. Bank Nifty has formed a bearish candlestick pattern on the daily timeframe. Its immediate resistance level is now placed at 47,950 while support is at 47,500.

Indices closing for 15th May 2024
Major Market Indices data
Nifty Gainers & Losers

Stocks in Spotlight

▪  Cipla: Stock jumped 3.5% after three block deals in the counter took place on the exchanges.

▪  Life Insurance Corp: Stock soared 6% as it has been given three more years by SEBI to achieve 10% public shareholding.

▪  Siemens: Stock surged 6.4% to hit a 52-week high of Rs 7,240 on the NSE after the company's March quarter results beat street estimates.

Global News

▪  Oil prices rose on Wednesday on expectations for higher demand as the U.S. dollar weakened and a report showed U.S. crude and gasoline inventories fell, while the release of inflation data may point to a more supportive economic outlook.

▪  Gold prices climbed to a more than three-week peak on Wednesday, aided by a weaker dollar and yields after data showed that the U.S. consumer price index rose less than expected in April, boosting chances of interest rate cuts by the Federal Reserve.

▪  The dollar fell on Wednesday after U.S. consumer prices increased less than expected in April, suggesting inflation has resumed a downward trend in the second quarter and that the Federal Reserve will cut interest rates in September.

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