Stock Market Closing: The stock market closed on the green mark after six days, Sensex rose 180 points, banking and energy stocks showed strength

Himansh Verma May 16, 2022

1 minute read

Stock Market Closing: The period of disappointment in the Indian stock markets for the last one week appeared to end today. Today, after about 6 days, the stock market looked bright and the market closed on the green mark. On Monday, shares of companies in banking, financial, energy and auto sectors jumped, due to which the trend of decline in the domestic stock markets for the last six trading sessions came to an end. On Monday, the Sensex closed with a gain of 180 points.

The 30-share BSE Sensex rose 180.22 points, or 0.34 per cent, to reach 52,973.84. During the day’s trading, it also went up to 53,428.28 points with a jump of 634.66 points at one time. The Nifty of the National Stock Exchange also closed at 15,842.30, up 60.15 points, or 0.38 per cent. For the first time in the last seven sessions, the Nifty has strengthened.

Here are the top gainers and top losers

Sensex and Nifty have fallen over five per cent in the past six sessions on heavy selling by foreign investors amid inflation concerns. Among the Sensex companies, NTPC, Bajaj Finance, Maruti, State Bank of India, HDFC, Kotak Mahindra Bank, Mahindra & Mahindra, IndusInd Bank, Larsen & Toubro, Titan and HDFC Bank closed with gains. On the other hand, UltraTech Cement, Asian Paints, ITC and TCS declined.

Mixed business for Asian markets

In other Asian markets, Japan’s Nikkei and Hong Kong’s Hang Seng ended with gains, while South Korea’s Kospi and China’s Shanghai Composite fell marginally. European stock markets were trading with a mixed trend in the afternoon session. US stock markets remained firm on Friday. Meanwhile, international oil standard Brent crude was trading 0.51 percent lower at $111 a barrel.

FII sell-off continues

Vinod Nair, Head of Research, Geojit Financial Services, said, “As foreign institutional investors are investing in high-yielding US bonds, their sell-off continues in the Indian markets.” Due to weakness in global stock markets, there was heavy selling in the last hour. He sold shares worth Rs 3,780.08 crore on Friday.