Last Updated: May 23, 2023, 09:47 AM IST
Stock Market Today: Tracking mixed global cues, key benchmark indices started on a firm note. Frontline indices the S&P BSE Sensex reclaimed 62,000 levels, up over 100 points, while the Nifty50 index climbed nearly 50 points to trade above 18,350 levels.
Broader markets, too, edged higher in trade as Nifty Midcap 100, and Nifty Smallcap 100 indices surged up to 0.4 per cent.
Sectorally, Nifty Metal index gained the most, up over 1 per cent. Nifty Realty index, on the flipside, slipped in negative territory.
Among individual stocks, shares of BPCL gained over 1 per cent after the company reported a 159 per cent growth in net profit of Rs 6,478 crore.
Besides, shares of Dhanlaxmi Bank surged over 3 per cent after the company posted a 63 per cent growth in Q4 net at Rs 38.17 crore in Q4FY23.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said: “Adani stocks had corrected hugely after the Hindenburg report. The Supreme Court expert panel in its report said that, at this stage, taking into account the explanations provided by SEBI, supported by empirical data, prima facie, it would not be possible for the committee to conclude that there has been a regulatory failure around the allegation of price manipulation.”
Global Cues
Globally, the US markets saw a mixed trade overnight as investors followed debt ceiling negotiations. While Dow Jones fell 140 points or 0.4 per cent, the S&P 500, and NASDAQ Composite indices gained up to 0.5 per cent.
According to reports, US Presdient Joe Biden, and Republican House Speaker Kevin McCarthy met on Monday, and called the talks ‘productive’ and ‘professional’. However, the two leaders did not reach a deal yet.
In Asia-Pacific, markets edged higher this morning despite no deal over debt limit. Nikkei 225, Topix, Kospi, and the S&P 200 indices rose up to 0.6 per cent.