“Stock Market Ends Special Trading Session with Gains, Extends Three-Day Rally”
The domestic benchmark indices, the Sensex and the Nifty 50, closed the special live trading session on Saturday, May 18, with gains, extending their current three-day rally. This surge was driven by fresh foreign capital inflows and encouraging cues from across the globe. The small and mid-cap indexes outpaced the benchmark indices, and all sectoral indices finished in the green.
The BSE Sensex closed at 74,005.94, up 88.91 points, or 0.12%, while the NSE Nifty 50 rose by 35.90 points, or 0.16%, to 22,502.00. The Nifty SmallCap 100 index ended 0.82% higher, and the Nifty Midcap 100 index closed 0.51% higher. The India VIX ended the day 3.67% higher.
According to Arvinder Singh Nanda, Senior Vice President of Master Capital Services Ltd, the benchmark indices had a solid run and recovered the losses from the previous week. The BSE Sensex and Nifty 50 ended the week up 1.85% and 2.03%, respectively.
Looking ahead, major domestic and global economic data will shape the market’s outlook. Key data points include Manufacturing and Services PMI for India, UK CPI Inflation Data, Initial Jobless Claims data for the US, S&P Global Manufacturing PMI, and Q4 results.
Dharmesh Shah, Vice President of ICICI Securities, expects Nifty to challenge its All-Time High of 22,800 in the coming weeks. He highlights the positive stance based on historical data and bullish undertones in sectors like banking, capital goods, oil & gas, power, auto, and FMCG.
In terms of stock recommendations, analysts suggest buying Reliance Industries Ltd (RIL) in the range of ₹2,820-2,875 for a target of ₹3,270 with a stop loss of ₹2,730. They also recommend buying Larsen & Toubro Ltd (L&T) in the range of ₹3,400–3,460 for a target of ₹3,735 with a stop loss of ₹3,108.
It is important to note that the views and recommendations mentioned above are those of individual analysts, experts, and broking companies, and investors are advised to consult with certified experts before making any investment decisions.
