Opening bell: Broader market rallies as the Nifty nears the 16,000 barrier

Headline equity indices rose sharply in early trade, following bullish global indications.

 On May 12, 2022, foreign portfolio investors (FPIs) sold shares worth Rs 5,255.75 crore in the Indian equities market, while domestic institutional investors (DIIs) were net purchasers worth Rs 4,815.64 crore. In the United States, the S&P 500 and Dow Jones both ended the day slightly lower, but the Nasdaq edged out a small gain.

At 9:40 AM, the BSE Sensex had gained 435 points and is trading at 53,365.81 levels. The BSE MidCap also climbed by 456 points and is trading at 22,101.45 levels. The BSE SmallCap has similarly ascended by 515 points and is trading at 25,510.80 levels. The stocks trading in the green on the BSE Sensex are Sun Pharmaceuticals, Titan, Dr Reddy Laboratories, Reliance Industries, and Hindustan Unilever. Asian shares edged higher on Friday after a late recovery helped US stocks cut losses overnight.

The Nifty 50 index opened in the green today gaining by 200 points and is now trading at 16,0008.85 levels. The Bank Nifty similarly jumped up by 329 points and is trading at 33,861.90 levels. The gainers on Nifty 50 are Tata Motors, Sun Pharmaceuticals, UPL, Apollo Hospitals, and Tata Steel.

The market outlook is positive as out of 2,734 stocks traded, the numbers of stocks advanced are 2,250 and 403 stocks that have declined in the morning session. Today, 128 stocks are locked up in the upper circuit and 121 stocks are locked in the lower circuit today. There are 29 stocks that are trading at a 52-week high and there are 41 stocks that are trading at a 52-week low.