In spite of a spate of bad news, Indian equity markets end the day higher

17 May 2022 , 04:17 PM

Indian markets closed in the green today. BSE Sensex ended the day with more than 1300 points increase. NSE Nifty ended the day with more than 400 points increase. Hindalco Industries, Tata Steel, Coal India Ltd, JSW Steel were the top gainers today. Tata Consumer Product Ltd etc. were the top losers.
Indian markets rose today in spite of a spate of bad news during the day. Wholesale price inflation in April was 15.02%. This is the highest level of wholesale price inflation the country has reported in around two decades. Indian rupee depreciated so much against the US dollar during the day that  RBI had to intervene by selling dollars and buying the rupee in order to arrest the decline. Oil prices rose above $115.
LIC’s shares got listed today. It t got listed at Rs 867.20 on BSE. This was less than its issue price of Rs 949. It ended the day at Rs 875.45b on BSE, falling by 7.75% during the day.
The impact of these negative news was Not seen today; but it is likely to be seen tomorrow.