Markets see a day in green

20 May 2022 , 03:51 PM

After a day in red, today was a day in green for Indian equity markets. NSE Nifty ended the day up by more than 450 points. BSE Sensex ended the day up by more than 1500 points. Dr Reddy, Adani Ports,  JSW Steel, and Reliance Industries were the top gainers today.  Shree Cement and UPL were the top losers today.

Markets rose today on the back of some strong buying after the sharp fall of yesterday. Many must have thought buying at the current levels a good decision for future. Nothing else changed in economic fundamentals that could be attributed as the reason for the sharp rally seen today.  Over the next few days markets may follow a similar pattern of rising on one day and then falling on the other.  This pattern also reflects the current uncertainty and anxiety regarding the state of global economy and Indian economy.

Today’s rally was driven by metal stocks, pharmaceutical stocks and realty stocks.  Reliance Industries’  share also saw a jump of 6.01% during the day.  Reliance has a weight of 12.8% in the Sensex. So any significant increase in the price of Reliance also pushes the Sensex up significantly.