Market at close | Sensex, Nifty 50 end at 5-month high, Reliance, Sun Pharma top gainer

Indian benchmark indices BSE Sensex and Nifty 50 ended in green. BSE Sensex rose 629 points and ended at 62,502 while Nifty 50 ended up 178 points to 18,499.Nifty 50 ended at highest closing level in 2023. Additionally 43 Nifty stocks closed in green.The biggest gainers on the Nifty 50 on May 26 were Reliance Industries, Sun Pharma, Divis Labs, HUL and Hindalco Industries.The top losers on the Nifty 50 were ONGC, Grasim Industries, Bajaj Auto, Bharti Airtel and Power Grid Corp.Among sectoral indices all sectors ended in the green with Metal, FMCG, Information Technology, Realty, Pharma and PSU Bank up 1 percent each. Nifty FMCG continued its gaining streak with sectoral index at record high.“ The markets remained quite bullish , more or less insulated from developments elsewhere. The uptick seen during the week was across market caps and sectors. The prolonged negotiations in the US on the budget ceiling is being looked at with some amount of consternation as the consequences may be devastating if an agreement is not reached. But the probability of an agreement being hammered out is very high. Other significant influences on the market would be the economic numbers as well as speculations on the intensity of the economic slide that is likely to happen in the coming quarters. External developments will be of consequence to the markets in the coming weeks more than any domestic event.” said Joseph Thomas, Head of Research, Emkay Wealth Management.Also read: Nifty FMCG Index hits a record high, crosses the 50,000 mark: What lies aheadIn the Asian market, Japan's Nikkei share average experienced a rise on Friday, primarily driven by the gains in chip stocks. This surge was attributed to the strong earnings and subsequent share surge of U.S.-based company Nvidia, which continued to have a positive impact on the sector. The benchmark index concluded the day with a 0.37 percent increase, marking its seventh consecutive week of gains, which is the longest streak observed in five years. On the other hand, the broader Topix index initially rose by 0.6 percent but eventually ended the day flat, snapping a six-week period of gains.Meanwhile, China stocks exhibited a flat performance on Friday, as investor sentiment remained subdued. Market focus was primarily on tensions between China and the United States, and despite the surge in semiconductor shares following Nvidia's overnight share price increase. The blue-chip CSI300 Index in China closed flat, while the Shanghai Composite Index experienced a slight increase of 0.4 percent. The Hong Kong market was closed on Friday due to a public holiday. Throughout the week, the CSI300 Index and Hong Kong's Hang Seng Index both recorded declines of 2.4 percent and 3.6 percent, respectively, marking their worst weekly performances in 10 weeks.Moving to Europe, shares in the region climbed on Friday, with a particular boost from the mining and technology sectors. However, the main benchmarks were on track to register significant weekly losses due to increased investor concerns regarding the U.S. debt ceiling deadlock and a slowdown in the global economy.In the United Kingdom, stocks advanced on Friday following the release of data that showed an unexpected rise in retail sales during April. This data highlighted the resilience in consumer spending despite the presence of elevated inflation. Additionally, Rio Tinto, a major mining company, experienced its best day in over a month following an upgrade by a brokerage firm.Also read: Stock Market Live: Sensex jumps 600 points, Nifty 50 crosses 18,500, Sun Pharma top gainer

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Market at close | Sensex, Nifty 50 end at 5-month high, Reliance, Sun Pharma top gainer

By Nishtha Pandey May 26, 2023 6:17:55 PM IST (Updated)

The biggest gainers on the Nifty 50 on May 26 were Reliance Industries, Sun Pharma, Divis Labs, HUL and Hindalco Industries. The top losers on the Nifty 50 were ONGC, Grasim Industries, Bajaj Auto, Bharti Airtel and Power Grid Corp.

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Market at close | Sensex, Nifty 50 end at 5-month high, Reliance, Sun Pharma top gainer

By Nishtha Pandey May 26, 2023 6:17:55 PM IST (Updated)

The biggest gainers on the Nifty 50 on May 26 were Reliance Industries, Sun Pharma, Divis Labs, HUL and Hindalco Industries. The top losers on the Nifty 50 were ONGC, Grasim Industries, Bajaj Auto, Bharti Airtel and Power Grid Corp.

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