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Stock Market Highlights: Frontline benchmark indices BSE Sensex and NSE Nifty 50 erased early losses to close nearly 1 per cent higher. Sensex closed 676.69 points, or 0.93 per cent higher to 73,663.72 while Nifty inched 203.30 points, or 0.92 per cent higher to 22,403.85.
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The indices continued to flicker near flatline after opening higher on Thursday (May 16) on positive global cues. Sensex opened 351.21 points, or 0.48 per cent higher to 73,338.20 while Nifty inched 118.70 points, or 0.53 per cent higher to 22,310.20.
Among the Sensex components, Mahindra & Mahindra (M&M), Reliance Industries, Bharti Airtel, Infosys, Tech Mahindra, HCL Technologies, and Tata Consultancy Services were the major gainers. Maruti, Tata Motors, Power Grid and Larsen & Toubro were among the laggards.
Among sectoral indices, IT and Realty inched nearly 1 per cent higher to lead gains in today’s session. On the other hand, PSU Bank remained in red after Energy and Commodities indices staged a recovery.
India VIX, also called as ‘Fear Index’, continued to soar higher as market participants anticipate higher volatile in near time. The reason cited by market analyst for this high volatility is the ongoing election season. India VIX closed marginally lower at 19.99.
The Indian rupee opened 2 paise stronger at 83.44 against the US dollar. The Indian currency had closed at 83.50 against the US currency. Forex traders said the rupee remains under pressure due to ongoing elections as well as foreign fund outflows, as per a PTI report.
Crude oil prices extended gains from the previous session. Brent futures rose 25 cents, or 0.32 per cent, to $82.49 a barrel while US West Texas Intermediate crude (WTI) gained 40 cents, or 0.5 per cent, to $79.03.
Meanwhile, the Indian government has slashed windfall tax on domestically produced crude oil to Rs 5,700 per tonne, from Rs 8,400 per tonne The tax is levied in the form of Special Additional Excise Duty (SAED). Read less
Stock Market Today Live Updates: Adani ports shares decline 2%
Share Market Today Live Updates: Norges Bank, the central bank of Norway, has excluded Adani Ports and Special Economic Zone (APSEZ) from its Government Pension Fund Global, over the ‘unacceptable risk’ the company contributes to human rights violations during the times of war and conflicts.
The Norwegian Government Pension Fund Global GPFG is one of the world’s largest fund, owning almost 1.5 percent of all shares in the world’s listed companies. It has holdings in around 9,000 companies worldwide.
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with an Express account.
The scrip of APSEZ was trading at Rs 1,318.20, down 1.41 per cent, in the afternoon trades on the BSE.
Stock Market Today Live Updates: India VIX remains in focus
Share Market Today Live Updates: India VIX, also called as 'Fear Index', continues to soar higher as market participants anticipate higher volatile in near time.
The reason cited by experts for this high volatility is the ongoing election season.
India VIX has inched 0.50 points, or 2.52 per cent higher at 20.76.
Stock Market Today Live Updates: Sensex, Nifty extend losses as session progressed
Share Market Today Live Updates: After hovering between 22,150-22,000 mark, Nifty has slipped below 21,000.
At 1:30 pm, Sensex inched 369.98 points, or 0.51 per cent lower at 72,619.65 while Nifty inched 119.30 points, or 0.54 per cent lower at 22,080.40.
Stock Market Today Live Updates: Asian shares inch higher
Share Market Today Live Updates: Asian shares were mostly higher after US stocks rallied to records on hopes that inflation is heading back in the right direction.
In Asian trading, Tokyo's Nikkei 225 index gained 1.4 per cent to 38,920.26, even after the government reported that the Japanese economy contracted at a 2% annual rate in the January-March quarter.
Hong Kong's Hang Seng index rose 1.5 per cent to 19,355.77. The Shanghai Composite index edged 0.1% lower, to 3,118.40.
In Australia, the S&P/ASX 200 advanced 1.7 per cent to 7,881.30 while South Korea's Kospi climbed 0.8% to 2,753.00.
Stock Market Today Live Updates: MCX gold, silver futures inch higher
Share Market Today Live Updates: MCX Gold futures for June expiry inched 0.02 per cent higher at 73,117.00 per 10 grams on Thursday (May 16) while MCX Silver futures for July expiry inched 0.16 per cent higher to 87,000.00 for a kg.
Stock Market Today Live Updates: Nifty Realty remains biggest sectoral gainer, advances over 1%
Share Market Today Live Updates: Nifty Realty has inched above a per cent higher to 979.05.
Top gainers:
> Oberoi Realty, 7.26 per cent higher at 1,688.50
> Suntech Realty, 2.88 per cent higher at 439.90
> Brigade Ent, 1.72 per cent higher at 1,099.70
Stock Market Today Live Updates: Nifty IT inches 1% higher
Share Market Today Live Updates: IT stocks are top leaders of today's session with Nifty IT index inching over a per cent higher.
Nifty IT inched 320.65 points, or 0.98 per cent higher at 33,438.90.
Top gainers:
> MphasiS, 3.83 per cent higher at 2,361.45
> Tech Mahindra, 2.18 per cent higher at 1,302.30
> L&T Technology, 1.62 per cent higher at 4,529.00
Stock Market Today Live Updates: SBI raises short-term retail fixed deposit rates by up to 75 bps
Share Market Today Live Updates: The country’s largest lender State of India (SBI) has increased interest rates on short-term retail fixed deposits (FDs) by 25 to 75 basis points (bps) – a move which is likely to be followed by other banks.
This is the first increase in the fixed deposit rates by the bank since December 2023.
A fixed deposit is an investment instrument where an amount is deposited with banks for a set period and at a fixed rate of interest. Rates on FDs are important for those, especially senior citizens, who are looking for safe investment options.
For retail domestic term deposits (below Rs 2 crore) maturing between 46 to 179 days, the bank has revised upwards the interest rate by 75 bps to 5.5 per cent from 4.75 per cent. Senior citizens will now get an interest rate of 6 per cent, as against 5.25 per cent earlier, on the same tenor. One basis point is one-hundredth of a percentage point.
Stock Market Today Live Updates: Check top gainer and losers
Share Market Today Live Updates: Among the Sensex components, Mahindra & Mahindra, Reliance Industries, Bharti Airtel, Infosys, Tech Mahindra, HCL Technologies, and Tata Consultancy Services were the major gainers.
Maruti, Tata Motors, Power Grid and Larsen & Toubro were among the laggards.
Stock Market Today Live Updates: India VIX remains in focus
Share Market Today Live Updates: India VIX, also called as 'Fear Index', continues to soar higher as market participants anticipate higher volatile in near time.
The reason cited by experts for this high volatility is the ongoing election season.
India VIX has inched 0.23 points, or 1.04 per cent higher at 20.47.
Stock Market Today Live Updates: Analyst's take on rupee-dollar trade today
Share Market Today Live Updates: "Despite short-term pressure on the rupee due to internal factors, external conditions have turned in its favour. Recent US CPI and retail sales data indicate that inflation is resuming its downward trend," CR Forex Advisors MD Amit Pabari said.
-From PTI
Stock Market Today Live Updates: Brent, WTI oil prices higher after stronger US demand
Share Market Today Live Updates: Crude oil prices extended gains from the previous session on signs of stronger demand in the US where data showed slower inflation than markets expected.
Brent futures rose 35 cents, or 0.4 per cent, to $83.10 a barrel while US West Texas Intermediate crude (WTI) gained 40 cents, or 0.5 per cent, to $79.03.
Stock Market Today Live Updates: Rupee opens stronger against US dollar
Share Market Today Live Updates: The Indian rupee opened 3 paise stronger at 83.47 against the US dollar. The Indian currency had closed at 83.50 against the US currency.
Stock Market Today Live Updates: Sensex, Nifty open higher
Share Market Today Live Updates: Sensex opened 351.21 points, or 0.48 per cent higher at 73338.20 while Nifty inched 118.70 points, or 0.53 per cent higher at 22,310.20.