Stock market live 17 May: Markets are trading higher
Stock Market Live 17 May: Indices are trading higher, Banking and Financial stocks are top gainers
Market Live 17 May: Indian stock market opened higher amid mixed cues from the other Asian market peers. Nifty opened at 14756.25 levels, up by 78.45 points while Sensex made a positive opening of 258.15 points at 48990.70 levels. The Bank Nifty on the spot price also opened higher at 32437.85 levels, up by 268.3 points from the previous closing.
At 9.45 am IST, Sensex and Nifty are trading higher by 0.68 percent and 0.60 percent respectively whereas Bank Nifty on the spot price is trading 1.68 percent up.
UPL, IndusInd Bank, and SBI are trading as the top gainers in the Nifty 50 index whereas Larsen, Cipla, and Bharti Airtel are trading as the top losers. The most active stocks at this moment in the Nifty 50 index are UPL, Cipla, and Larsen.
On the sectoral front, Banking, Finance, and Automobiles sectors are trading higher whereas Telecom, Infrastructure, Metals, and IT sectors are trading in the red at this moment.
Stock markets are likely to open higher
Good morning and welcome to the stock market live 17 May, at 7.50 am IST
Asian markets are trading mix on Monday morning. Nikkei is trading lower by 0.62 percent. Whereas Hang Seng and Shanghai are trading higher by 0.60 percent and 0.65 percent. The SGX Nifty is trading higher by 52 points at this moment. The indication getting from the SGX Nifty at present is positive for the Indian stock markets.
US markets rebounded on Friday and extended the previous day’s rally as investors’ concerns about inflation have ebbed after several Fed speakers assured that the easy monetary policy would continue. The US market indices Dow and S&P 500 gained 1.06 percent and 1.49 percent respectively while Nasdaq closed higher by 2.32 percent on Friday.
The European markets closed higher on Friday, led by gains in the energy and retail sectors. The markets rallied after Federal Reserve said the inflation is temporary and there would be no imminent move to tighten monetary policy. The European market indices CAC and DAX closed higher by 1.54 percent and 1.43 percent respectively. While FTSE was up by 1.15 percent on 14 May.
Indian stock market ended on a flat note on Friday. The key indices Sensex was closed marginally higher by 41.75 points while Nifty closed just 13.70 points lower. FIIs were the seller and DIIs were the buyers in the cash market segment. FIIs sold Rs 2607.85 crores whereas DIIs bought Rs 613.26 crores in the cash market on Friday.
News that may impact the stock market live, 17 May
As the RBI data showed on Friday, India’s foreign exchange reserves surged by $1.444 billion to $ 589.465 billion in the week ended 7 May. In the previous week ended 30 April, the country’s foreign exchange reserve had risen by $3.913 billion to $588.02 billion.
Today’s 4th quarter result- Bharti Airtel, Colgate Palmolive, Federal Bank, Sun Pharma advance Research Company, Orient Cement, 3i Infotech, Asit C Mehta Financial Services, Gujarat Narmada Valley Fertilizer, etc.
You can visit again to read more updates on the stock market live for 17 May after the markets get open.
You may also like to read, Nifty and Bank Nifty share price target for (17-21 May)
Sensex and Nifty end almost 1% lower on a weekly basis
Happy Investing!!
Editor’s Desk
