Domestic equity markets ended higher in trade Tuesday (May 23) but profit booking by investors towards the end capped gains. The 30-share S&P BSE Sensex ended 18.11 points higher at 61,981.79, while the NSE Nifty 50 settled 33.60 points higher at 18,348. About 1,716 shares advanced, 1,686 shares declined, and 110 shares were unchanged.

Share Market Live

NSE

Broader market indices performed better than the benchmarks as all midcap and smallcap stocks rose. On a sectoral front, Nifty Metal index gained about 3 percent, followed by Nifty Media, Auto and Pharma indices, which added about a percent, each. Among the losers, Nifty IT index was the biggest laggard, while Nifty Realty and Consumer Durables indices also ended lower.

ALSO READ: Vedanta declares 1st dividend for FY24: How it compares with previous 6 financial years

“Nifty opened on a strong note. However, profit booking in the last hour dragged indices down to close with marginal gains of 33 points at 18348 levels. All sectors ended in the green, except IT, Realty and Consumer sectors. Markets have gained momentum in the last three sessions and are gradually inching higher towards 18450 – 18500 levels. We expect sector rotation to continue, with midcap particularly gaining strength. On the global front, investors would watch for Japan, UK, Europe and US PMI data that will be released late on Tuesday,” said Siddhartha Khemka, Head of Retail Research at Motilal Oswal.

The direction of the US market is anticipated to impact global equities today, with investors closely monitoring the release of FOMC minutes, US PMI, and progress in debt-ceiling talks.

CNBC-TV18 spoke to various experts and here's what they have to recommend for today's trading session. Vaishali Parekh, Vice President - Technical Research has a buy recommendation on TVS Motors, Apollo Tyres, while Anuj Gupta of IIFL Securities has a ‘Buy’ on Adani Ports. Check out the targets and stoploss.

Stock picks by Vaishali Parekh:

1. Buy HBL Power at 109.50, stop loss at 107, target price 115

2. Buy Apollo Tyres at 379, stop loss at 372, target price 395

3. Buy TVS Motors at 1261, stop loss at 1245, target price 1295

Anuj Gupta’s stock picks:

1. Buy Adani Port, stop loss at 714, target 780

2. Buy Bharat Dynamics, stop loss 1038, target price 1150

ALSO READ: Long-term bets! Sanjiv Bhasin is bullish on these Adani group stocks. Here's why

Nifty Spot Index

Support – 18250/18200

Resistance - 18500/18550

Bank Nifty Spot Index

Support – 43600/43550

Resistance – 44200/44250