The Indian key benchmark indices were seen holding gains in noon deals on the back of sustained buying support in IT and financial shares, today (27 May 2022)
The BSE Sensex was up around 400 points at 54,650, while the NSE Nifty neared the 16,300-level.
The broader markets were also up with gains - the BSE MidCap and SmallCap indices were up over a percent each. The breadth too was fairly positive, with advancing shares outpacing declining stocks in the 2:1 ratio.
Sector-wise, the BSE IT, Bankex and Capital Goods indices were the top performers, while the Oil & Gas index lagged, dragged by Reliance.
Christopher Wood, global head of equity strategy at Jefferies believes that S&P 500 has more room for a downside. Investors, he suggests, should look to exit stocks on any intermittent bounce-back.