Closing Bell: Markets end the week on a positive note, Nifty settles above 16350 

Domestic equity bourses Sensex and Nifty50 surged as the market entered a new monthly futures and options series with strength across global markets. Financial and IT stocks pulled up both headline indices. 

Indian equity market closed the week on a positive note, logging gains for the second day in a row amid a positive global trend. Asian markets were also trading higher with an overnight swell on Wall Street on a more cheerful retail earnings outlook in the United States. The headline indices continued their upward trend led by buying interest in information technology, banking and automobile names. Owing to these developments, benchmarks finished higher for the second consecutive day.  

At the closing bell on May 27, the Sensex was up 632.13 points or 1.17% at 54,884.66, and the Nifty was up 182.30 points or 1.13% at 16,352.50. On the market depth, around 2152 shares have advanced, 1099 shares declined, and 119 shares are unchanged. 

Top Nifty gainers include Apollo Hospitals, Tech Mahindra, HDFC Life, Hero MotoCorp and IndusInd Bank, while top losers were ONGC, NTPC, Bharti Airtel, Power Grid Corp and Tata Steel. In the top trending stock, Apollo Hospitals was the top Nifty gainer as the stock gained 5.11 per cent to Rs 3,850. 

Sector-wise, except for metal and oil & gas, all other sectoral indices ended with gains. In the broad markets, BSE Midcap and Smallcap indices rose 1% each. 

In global market, investors were in a buying mood following promising retail earnings in the US. Decreasing FII selling also provided comfort to the Indian market in bringing down volatility. Also, to look forward, the RBI’s upcoming policy meeting will be a key factor to decide the future course of action as they are expected to announce an additional policy rate hike.