On May 18, Indian markets extended gains for the third consecutive session, with both Sensex and Nifty closing with 0.1% gains in a special trading session. Top Gainer: NESTLEIND | Top Loser: JSWSTEEL

Liquide Post-Market Summary 18th May 2024

On May 18, Indian markets extended gains for the third consecutive session, with both Sensex and Nifty closing with 0.1% gains in a special trading session. At close, the Sensex was up 88.91 points or 0.12% at 74,005, and the Nifty was up 35.90 points or 0.16% at 22,502.

Broader markets outperformed benchmark indices. The market breadth favoured gainers, with around 2,359 shares advancing, 998 shares declining, and 130 shares remaining unchanged. Among sectors, the Nifty Media index was the top performer, led by gains in Zee Entertainment, followed by Nifty Energy and Nifty Infrastructure, which also recorded slim gains of up to 0.3%.

NIFTY:  The index opened 46 points higher at 22,512 and made a high of 22,520 before closing at 22,502. Nifty has formed a small bearish candlestick pattern with a lower shadow on the daily chart. Its immediate resistance level is now placed at 22,580 while immediate support is at 22,440.

BANK NIFTY: The index opened 82 points higher at 48,197 and closed at 48,199. Bank Nifty has formed a Doji pattern on the daily timeframe, indicating indecision among bulls and bears about further direction. Its immediate resistance level is now placed at 48,260 while support is at 47,750.

Indices closing for 18th May 2024
Major Market Indices data
Nifty Gainers & Losers

Stocks in Spotlight

Nestle India: Stock gained 3% after majority of shareholders voted against an increase in royalty payout to Nestle S.A.

▪  NHPC: Stock slipped over 2% after the company reported a decline in its net profit for the March quarter.

▪  Zee Entertainment: Stock surged 5% after the company's profit returned back to black in the January-March quarter (Q4FY24).

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