SENSEX gains 200 points, NIFTY50 opens flat at 23,671 pts on May 22; SBI Life, Eicher Motors, among gainers

At 9:15 am, the NIFTY50 index opened 0.07% or 16.5 points higher at 23,671.20 points on Friday, compared to 23,654.70 at the previous market close, according to NSE data.

The BSE SENSEX index gained 200 points after opening 0.10% or 77 points higher at 75,260.39 points on Friday, May 22, compared to 75,183.36 points at the previous market close, as per the exchange data.

Before the opening bell on Friday, the Nifty futures at the GIFT city were trading 0.05% higher at 23,677.50 points on May 22, according to the NSE data.

Although the indices opened high on Friday, the trend showed that the foreign investors remained sellers in the Indian markets as of May 21, as NSE data highlights FIIs sold ₹1,891.21 crore worth of assets in a single day.

While foreign investors remained sellers, the domestic traders supported the benchmark indices on Thursday’s market, purchasing ₹2,492.42 crore worth of assets during the trading session.

The benchmark indices on Friday were also witnessing support from the recovery of the Indian rupee amid the mixed global market sentiment. Investing.com data for USD/INR showed that the Indian rupee was at 95.99 against the US dollar as of 9:54 am (IST), compared to the previous market close of 96.03 on Thursday.

Top gainers today

On the NIFTY50 benchmark index, stocks like ICICI Bank, SBI Life Insurance, Asian Paints, Larsen & Toubro, HDFC Bank, and Eicher Motors were among other stocks which were trading in gains as per early market hours.

ICICI Bank was up 1.5%, SBI Life Insurance was up 1.38%, Asian Paints was up 1.38%, Larsen & Toubro was up 1.1%, HDFC Bank was up 1.1%, and Eicher Motors was up 1% as per the exchange data.

On the Nifty Midcap 100 index front, stocks like Dixon Tech, Adani Total Gas, ICICI General Insurance, and AU Bank were among the other top gainers on Friday’s market.

Dixon Tech was up 4%, Adani Total Gas was up 2.2%, ICICI General Insurance was up 1.7%, and AU Bank was up 1.7%, as of the early market session.

Smallcap stocks like JSW Cement were up 10%, Triveni Turbine up 3%, Data Patterns up 2.8%, Deepak Fertilisers up 2.5%, and FSL was up 2.7% on Friday.

Top losers today

Stocks like Max Health, Power Grid Corp., ITC, Dr Reddy’s, Coal India, TCS, and Cipla were among the top losers on the NIFTY50 index on May 22.

Max Health was trading 7% lower, Power Grid Corp. lost 1%, ITC down 0.8%, Dr Reddy’s down 0.64%, Coal India down 0.5%, TCS down 0.41%, and Cipla lost 0.3% as per the early trade.

Several stocks on the Nifty Midcap 100 index, like Aurobindo Pharma was down 2%, LG Electronics India down 4%, Paytm down 3.3%, Policybazar down 2%, and Mahindra & Mahindra Financial Services was down 1.7% as per the early market.

Stocks on the Nifty Smallcap, like Welspun Corp was down 4%, Godawari Power was down 3%, Inventurus Knowledge Solutions was down 2.5%, Narayana Hrudayalaya was down 2.2%, and Whirlpool lost 3.6% on Friday’s early trade.