Indian shares ended Monday's session on a five month high. BSE Sensex ended at 318 points higher to 62,346 while Nifty 50 gained 84 points and ended at 18,399.

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Among stocks Hero Motocorp followed by Tata Motors, ITC, Tech Mahindra and Hidalco were the top gainers. Shares of Hero Motocorp closed gaining over 3 percent.

Shares Adani Enterprises were the top losers as the shares shed over 2 percent. This was followed by Cipla, BPCL, Grasim and Divis Laboratories.

Realty stocks surged today on strong earnings by DLF and better than expected inflation print. Nifty Realty Index closed at rising 4.32 percent with stocks of DLF, Godrej Properties, Oberoi Realty gaining 4-7 percent.

"The easing in domestic inflation data provided support to the market. All sectors ended in green with Realty being the top gainer up 4 percent, followed by FMCG and PSU Bank stocks. Bank Nifty touched its previous all-time high of 44151.70 levels. Nifty too is 3 percent away from its lifetime high levels. FIIs have been consistent buyers of Rs 13278 for the month to date. Strong results from index heavy heavyweight boosted the sentiments. The expectation of RBI to end the rate hike cycle after India’s CPI inflation eased to an 18-month low of 4.7 percent in April and remained under RBI’s comfort zone, cheered markets. Even WPI inflation declined for the 11th straight month, falling to -0.92 percent in April. All these factors contributed to positivity in the market, despite mixed global cues. Overall, we maintain a positive outlook with a "Buy on dips" strategy," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Nifty Bank gained 279 points and closed at 44,072 while the midcap index closed up by 241 points at 32,709.

"Till few sessions back; 43000 – 43500 seemed to be a strong hurdle for NIFTY BANK but the index has surpassed the same. In fact the index almost made a new life high near 44150. However we are witnessing negative divergence in daily RSI. In addition; we compared the price of NIFTY BANK futures with the volumes. We observed that the recent rise is accompanied with very low or declining volumes. Going ahead; a close above 44150 might extend the move towards 45000 but that should be used to exit longs," said Mehul Kothari, AVP - Technical Research, Anand Rathi Shares and Stock Brokers.

Except ACC cement all Adani Group stocks closed in red with a market capital going down by Rs 25,000 crores.

Also read: Nifty Bank ends at record closing high: A look at its journey from the recent and 52-week low

On Monday BSE Companies gained market capital of more than Rs 45,000 crore today.

Indian Rupee ended at 82.30 per dollar as against Friday's close of 82.16 per dollar.

Also read: Stock Market Highlights: Sensex, Nifty 50 end at five-month high; Nifty Bank posts record close

First Published:May 15, 2023 3:40 PM IST