Sensex Closes At 72,987 While Nifty Drops 17 Pts on May 15, 2024

Nifty ? ? ? 22,200 [-17.30] 0.08

Sensex? 72,987 [-117.58] 0.16

Reasons for Market Downturn

• Heavyweight stocks like HDFC Bank, Tata Motors, and Reliance Industries faced losses, leading to an overall market decline.

• Weak domestic market sentiment persisted due to significant outflow of foreign capital ahead of the Lok Sabha election 2024 outcome.

• Mixed global cues and anticipation of US inflation data influenced market sentiment, with concerns over the US Fed's policy moves despite expectations of future rate cuts.

Top 3 Stocks That Lost The Most?

Sensex

HDFC Bank ? -1.67?

Asian Paints? -1.59

Tata Motors? -1.49

Nifty

Tata Motors? -1.93

Bajaj Auto? ? -1.91

Asian Paint ? -1.85

• Tata Motors shares fell today possibly due to investor concerns regarding the necessity for increased expenditures to attract customers within its Jaguar Land Rover division, leading to a cautious outlook for fiscal 2025.

Sectors of the Day?

Nifty FMCG? -0.91

Nifty Media? -0.51

Nifty Auto? ? -0.50

IPO Performance?

• TGIF Agribusiness shares price debuted today with a premium of over 61.29%, opening at ?93 on BSE SME.?

• Silkflex Polymers shares price debuted today with a premium of over 15.38%, opening at ?60 on NSE SME.?

• TBO Tek shares price debuted today with a premium of over 55%, opening at ?1,426 on NSE.?

Key Events To Track For 16th May 2024?

• Monitor international markets for any significant developments or trends that could impact Indian markets.

• Keep an eye on scheduled economic data releases such as GDP figures, industrial production data, or inflation reports, as they can influence market sentiment and direction.

• Track earnings announcements from major companies across sectors, to gauge the health of the corporate sector and anticipate market reactions.

• Stay informed about any policy announcements or decisions by the Indian government, as they can impact market sentiment and specific industries.

• Stay updated on global events as they can affect Indian markets and investor sentiment.

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