NIFTY & Sensex open 0.2% higher, Reliance & Coal India are the top gainers

Benchmark Indices - NSE NIFTY 50 and the 30-share BSE SENSEX started Wednesday’s trading session on a positive note. The 30-share BSE SENSEX was marginally higher by 0.14% above the 74,000 mark, while the NSE NIFTY50 was up by +0.12% trading near above the level of 22,500. Furthermore, India VIX has cooled off from the day’s high and was seen trading below 22 mark.

Sectoral Performance - Within the sectoral landscape Nifty Realty (+1.00%), NIFTY FMCG (+0.75%), NIFTY IT (+0.8%) were among the top gainers. On the flip side, Nifty Metal (-1.0%), NIFTY PSU Bank (-0.85%), and Nifty Media (-0.8%) were among the top losers.

Top Gainers and Losers - Within the Nifty 50 space, Reliance (+1.98%), Coal India (+1.69%), NTPC (+1.28%), Hindustan Unilever (+1.09%) and Dr Reddy (+0.94%) were among the top gainers. On the other hand, Sun Pharma (-0.97%), SBI (-0.57%) and Hero Motocorp (-0.55%) were among the top losers.

Broader Indices - In the broader markets Nifty Midcap 100 was up by 0.24%, while the Nifty Smallcap 100 traded in red, down by 0.10%. The market breadth was positive with 1,313 stocks trading in green, while 632 stocks traded in red on NSE.

US Markets - Wall Street closed slightly higher on Tuesday. The U.S. Treasury yields dipped amid a quiet period before the holiday weekend and a lack of significant market drivers. All three major U.S. indexes rose, with the S&P 500 and the Nasdaq achieving all-time closing highs.

Commodities - Oil prices declined for the third consecutive session on Wednesday.

Stocks in F&O Ban - Stocks that are banned for trading in the F&O segment on May 22, 2024, are Aditya Birla Capital, Balrampur Chini Mills, Bandhan Bank, Biocon, GMR Airports Infrastructure, Granules, Vodafone Idea, Indian Energy Exchange, India Cements, National Aluminum, Piramal Enterprises, Punjab National Bank and Zee Entertainment Enterprises.