Indian stock markets ended slightly in the red on May 16, as profit booking in heavyweight stocks dragged the Sensex and Nifty 50 lower. But it wasn’t all gloom — the broader market stayed in high spirits, with mid and small-cap stocks registering solid gains.
The BSE Sensex lost 200 points, or 0.24%, to settle at 82,330.59. The Nifty 50 also eased, closing 42 points, or 0.17%, lower at 25,019.80. The dip came after Thursday’s strong rally, as investors chose to lock in some profits, especially in blue-chip names like Bharti Airtel, Infosys, SBI, HCL Tech and TCS.
Analysts suggest the market took a breather in the absence of any new catalysts. “It was a quiet day after the previous session’s rally. Some heavies saw selling pressure, and the mood stayed cautious,” said Ajit Mishra of Religare Broking.
Still, the broader sentiment appears steady, supported by easing geopolitical tensions, decent Q4 results, and a stable macro backdrop.
Unlike their large-cap cousins, the BSE Midcap and Smallcap indices moved firmly into the green, rising 0.85% and 1.18%, respectively. That surge in mid- and small-sized stocks added nearly ₹3 lakh crore to investors’ wealth, taking the total market capitalisation of BSE-listed companies to around ₹443 lakh crore.
Out of the 50 stocks in the Nifty index, 26 managed to close in the green. Bharat Electronics led the pack with a 3.82% gain, followed by Tata Consumer Products and Bajaj Auto, each up 2%.
On the losing side, Bharti Airtel dropped 2.83%, HCL Tech lost 2.06%, and Infosys shed 1.46%.
The Nifty Realty index climbed 1.63%, while Media wasn’t far behind with a 1.11% rise. FMCG and Auto indices also edged higher. Financial and banking indices hovered near the flat line, and IT was the lone major sector in the red, down 0.84%.
Vodafone Idea remained the busiest counter in terms of trading volume with 68.1 crore shares changing hands. YES Bank (19.3 crore shares) and Easy Trip Planners (13.1 crore shares) also saw high activity on the NSE.
Seven stocks jumped over 15% during the session, including names like Nucleus Software Exports, Paras Defence, and Zee Learn. On the downside, two stocks — Lloyds Engineering Works-RE1 and Ddev Plastiks Industries — fell more than 10%.
A total of 175 stocks hit their upper circuit limits, signalling strong bullish momentum in certain pockets. These included Zen Technologies, Paras Defence, Raymond, and Vakrangee. Meanwhile, 33 stocks hit their lower circuits, with names like Godfrey Phillips India and Allied Blenders on the list.
The advance-decline ratio reflected strong buying interest: 1,969 stocks ended higher, 911 declined, and 91 remained unchanged on the NSE.
More than 80 stocks touched their 52-week highs on the BSE. Among them were well-known names like ICICI Bank, Bharat Electronics, and Bajaj Holdings & Investment. Meanwhile, 27 stocks, including DB International Stock Brokers and Wendt (India), sank to their 52-week lows.
(By arrangement with Livemint.com)
