Market Wrap, May 14: NIFTY50 ends above 24,600 mark, SENSEX up 182 pts, broader market outshines; Tata Steel top gainer

The Indian stock market ended with gains after a volatile session on Wednesday, May 14, while the broader market took the limelight, outperforming the main equity indices.

The midcap and smallcap indices witnessed a strong rally and settled with over 1% gains.

Retail inflation hit a six-year low of 3.16% in April 2025, from 3.34% in March, driven by a sharp fall in food prices, official data showed on Tuesday.

According to exchange data, the foreign institutional investors (FIIs) bought ₹1,246.48 crore worth of equities on a net basis on Tuesday.

Globally, Asian benchmark indices ended mixed on Wednesday, with most settling with gains.

Japan's Nikkei 225 was closed 0.14% lower at 38,128.13, while Singapore's Straits Times slipped 0.26% to end at 3,871.05.

On the other hand, Hong Kong's Hang Seng and South Korea's KOSPI soared 2.25% and 1.22%, respectively. The Shanghai Composite ended at the 3,403.95 level, rising 0.85%.

The benchmark US indices closed higher on Tuesday after the inflation print came in softer than the estimates.

The S&P 500 rose 42.36 points, or 0.72%, to 5,886.55, and the Nasdaq Composite gained 301.74 points, or 1.61%, to 19,010.09 levels. However, the Dow Jones Industrial Average declined 269.67 points, or 0.64%, to close at 42,140.43.

As many as 2,960 stocks traded on the NSE on Wednesday. Out of this, 2,183 advanced and only 694 stocks declined, while 83 scrips remained unchanged.

This indicated that the market breadth was in favour of bulls.

A total of 61 stocks hit their 52-week highs, while 13 stocks touched their one-year lows. Besides, 200 stocks hit their upper circuit limits, and 30 touched their lower circuit bands on Wednesday.

NSE-listed firms' market capitalisation stood at ₹432.70 lakh crore at the end of the session.

India VIX, the volatility gauge, stood at 17.23 levels, declining 5.35%.

The Nifty Midcap 100 index surged 1.11% to 56,136.40 levels, led by gains in Cochin Shipyard, Aditya Birla Capital, SAIL, National Aluminium and RVNL.

Rallies in GRSE, HBL Engineering and Railtel Corporation shares contributed to the Nifty Smallcap 100 index, which settled 1.44% higher at 17,147.45 levels.

Except for Nifty Private Bank (-0.19%), all the other indices settled positive. Nifty (2.46%) took the lead among the winning pack, followed by Nifty Realty (1.7%), Nifty IT (1.32%), Nifty Media (1.27%) and Nifty Oil and Gas (1.22%).

Tata Steel was the top contributing stock on the 50-share index, surging 3.93%. Shriram Finance (2.75%), Bharat Electronics (2.61%), Hindalco (2.32%) and Tech Mahindra (2.22%) were the other top gainers on the index.

However, Asian Paints (-1.66%), Cipla (-1.33%), Kotak Mahindra Bank (-1.12%), Tata Motors (-1.06%) and Power Grid (-0.72%) were the biggest losing stocks on the index.

Tata Steel said it has earmarked a capital expenditure of ₹15,000 crore for its operations in India, the UK and the Netherlands for the current financial year (FY26).

GRSE shares closed at ₹2,212 apiece, soaring 15.52% on NSE.

The PSU reported a net profit of ₹244 crore for Q4 FY25 against ₹112 crore logged in Q4 FY24, registering a growth of 118%. Its revenue from operations stood at ₹1,642 crore in Q4 FY25 as against ₹1,016 crore seen in Q4FY24, up 62%.