Nifty Drops Below 15050; Coal India Top Performer

Indian markets in line with losses in the US indices and Asian peers which are reacting to the inflationary pressure opened weak. And continued to swung between gains and the losses for the day, with Nifty still managing to hold above 15050 mark. Here are the watch outs from the stock market trade as on May 19, 2021

Nifty Drops Below 15050; Coal India Top Performer

1. Nifty and Sensex closing: Nifty shed 78 points in trade today to end the session at 15030 while Sensex gave up close to 300 points hitting 49902 levels.

2. Global markets: European indices at the time of writing this report were all trading weak by over 1 percent on CAC, DAX and FTSE. Asian indices also ended mixed with just Kospi and Hong Kong's Hang Seng leading the list of gainers.

3. Sectoral Nifty gainer: Media and realty Nifty indices were outlier gaining over 2 percent, while gains also were seen in IT, pharma and PSU Bank.

4. Top Nifty gainers and losers: Nifty gainers included stocks like Coal India, UPL, Sun Pharma, Cipla and IOC, while Tata Motors, JSW Steel, HDFC, M&M and Bajaj Finserv were the major losers in trade on May 19, 2021.

5. Rupee: On weakness in domestic equity, there was seen losses in the Indian unit too which last traded at 73.16 per dollar.

6. Gold: Gold even on softness in dollar to multi-month lows against the basket of major currencies was trading with losses on the MCX. The gold futures for June delivery softened by almost Rs. 150 to Rs. 48165. Silver in line was weak by a huge Rs. 1100 at Rs72096 per kg.

7. Crude: On economic recovery news, crude which went past $70 per barrel on Tuesday dropped on news that US is going ahead with its deal with Iran and they would restrict nuclear weapon development in Iran, leading to more barrels.

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