Weekly stocks: Motilal Oswal recommends these 3 shares to buy this week
Indian stock market: The Indian stock market indices, Sensex and the Nifty 50, closed higher for the third consecutive session, despite varying signals from global markets, on Tuesday, May 14. Following a nearly 2 percent decline last week, market benchmarks rebounded this week, buoyed by improved valuations. The medium- to long-term prospects for the Indian stock market remain optimistic, supported by the nation's promising economic growth outlook.
The Nifty 50 began trading at 22,112.90, slightly up from its previous close of 22,104.05. Throughout the day, it fluctuated between an intraday high of 22,270.05 and a low of 22,081.25. Ultimately, the index concluded the session with a gain of 114 points, or 0.51 percent, closing at 22,217.85.
Notably, 36 stocks recorded gains. Also read: Tilaknagar Industries: This liquor stock gained over 1000% in 5 years; should you invest now? Meanwhile, Sensex commenced trading at 72,696.72, down marginally from its previous close of 72,776.1. It reached an intraday high of 73,286.26 and a low of 72,683.99.
The index ended the day 328 points, or 0.45 percent, higher at 73,104.61, with 20 stocks registering gains. “Nifty recovered from lower levels to close with gains of 49 points (+0.2%) at 22104 levels on the back of likely short covering as well as buying emerging at lower levels. Sector-wise it was a mixed bag with buying seen in Metals, Realty, and Pharma.
Nifty corrected by over 500 points in the last week because of nervousness among market participants due to the rising volatility index and consistent selling by FIIs. India VIX has been on a rising trend for 13 consecutive days and surged sharply by 100% from 10 to 20 levels. Further, the outflow of Rs.21620 crores by FIIs last
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