MARKET UPDATE:Sensex surged 550 points to 50,100 levels and Nifty reclaimed the psychological level of 15,100
Published On: Tuesday, May 18, 2021 | By: Team KnowMyStock
The markets in India shot up 1 percent in early deals today (18th May 2021), tracking similar firm trends in other Asian markets. Besides, another day of a dip in daily Covid-19 cases also supported investor sentiment. The S&P BSE Sensex surged 550 points, or 1 percent, to 50,100 levels and the Nifty50 index reclaimed the psychological level of 15,100. Bajaj Finance, IndusInd Bank, and PowerGrid rose over 2 percent, each, and were the top Sensex gainers. The Nifty sectoral indices were painted green, led by the Nifty Metal index, up 2.2 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices ruled 1.5 percent and 1 percent higher, respectively. Thirty-five companies, including Tata Motors, Canara Bank, Aarti Industries, Abbott India, Torrent Pharmaceuticals, Ujjivan Small Finance Bank, and Route Mobile, are set to release their quarterly earnings today.
Analysts expect Tata Motors to report a strong standalone performance, offset by modest performance in JLR. On a consolidated basis, they are penciling in a 41 per cent year-on-year (YoY) increase in the company's top-line and a profit of up to Rs 2,813 crore.
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