Markets end the day on a High

30 May 2022 , 04:06 PM

Indian markets have ended the day on a strongly positive note. At the close of the day, NSE Nifty was up by 308.95 points; BSE Sensex was up by 1041 points. Top gainers today were M&M, Infosys, Titan etc. Top losers today were Kotak Bank, JSW Steel,  Sun Pharma etc.

Markets were in the green all day long on the back of some positive global cues. These cues came in the form of some slowing down of US inflation rate in April. Most of the Asian indices too opened and closed the day in the green today.

M&M’s stock was the biggest gainer today because of strong quarterly results that the automobile company posted yesterday. Its profit in the March quarter increased year-on-year by almost 5 times.

Markets are likely to continue their swing movements in the near future. One day of gains are likely to be followed by next day of losses due to short term profit booking and value buying. On days when value buying is dominant over profit booking, the market gains a few points. And on days when profit booking is dominant over value-buying, it loses a few points.  In the last three days value buying and some push by bullish investors have kept the Indian markets in the positive territory. It is not certain how long this rally will last.