Description-: Investors were bullish on FMCG and Pharma, while selling was seen in the bank, capital goods, realty, IT, metal, PSU Bank, etc.
Indian benchmark indices ended with marginal losses on Wednesday, wiped off early gains, in a volatile trading session, to end lower due to selling pressure in realty, telecom, and IT stocks. Despite Wall Street recording gains in the overnight session, Asian indices struggled as investors evaluated fears of inflation, weak economic outlook, and Covid restrictions in China. in the volatile session on May 18.
Indian rupee ended flat at 77.58 per dollar against Tuesday’s close of 77.56. Both Nifty and Sensex ended with marginal losses in the volatile session on May 18. At close, the Sensex was down 109.94 points or 0.20% at 54,208.53, and the Nifty was down 19 points or 0.12% at 16,240.30. About 1865 shares have advanced, 1409 shares declined, and 108 shares are unchanged.
Tata Consumer Products, Shree Cements, UltraTech Cement, Cipla, and HUL were among the top Nifty gainers. However, the losers were Power Grid Corporation, BPCL, Apollo Hospitals, Tata Motors, and Tech Mahindra.
BSE midcap index ended on a flat note, while smallcap index was up 0.3 percent. Nifty PSU Bank index fell 1 percent dragged by the Canara Bank, Bank of Baroda, and SBI.
Nifty FMCG index rose 1 percent supported by the Marico, Tata Consumer Products, and Hindustan Unilever.
Major Move: Ruchi Soya jumps 8% after the name change, Patanjali Ayurved agreement. Shares of Ruchi Soya climbed nearly 8 percent in Wednesday’s trade as the company board renamed the company ‘Patanjali Foods’ and entered into a business transfer agreement with Patanjali Ayurved to acquire the latter’s food retail business for Rs 690 crore.
