The Nifty 50 closed at 23,743.45 on May 15, gaining 0.31% in a session marked by sectoral divergence, while the BSE Sensex ended at 75,660.26. The cash market opened at 23,731.40 and traded in a range of 23,663.35 to 23,839.30, with IT stocks leading the advance even as banking and metal counters faced selling pressure.
Indian Market Drivers
The IT sector powered the day's gains, with the Nifty IT index surging 392.35 points to close at 27,752.70. In contrast, the Nifty Bank index slipped 40.20 points to 54,088.75, reflecting cautious sentiment in financials. The Nifty Auto index edged up 28.90 points to 26,078.60, while broader indices showed mixed performance with the Nifty 500 down 0.06%.
Among top gainers, Hindustan Unilever climbed to ₹2,280.60 from ₹2,248.70, while HDFC Bank advanced to ₹781.90 from ₹773.00. Sun Pharma and Tata Consumer Products also posted gains, rising to ₹1,881.80 and ₹1,241.00 respectively. On the losing side, metal stocks bore the brunt of selling with Jindal Steel and Tata Steel among the laggards, closing at ₹1,226.70 and ₹216.68. Reliance Industries ended at ₹1,335.80.
Volume on the Nifty 50 stood at 263,244,323 shares as the index recovered from intraday lows to close near session highs, suggesting late-session buying interest.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 23,743.45 | +73.85 | +0.31% |
| Sensex | 75,660.26 | — | — |
| Nifty Bank | 54,088.75 | -40.20 | -0.07% |
| Nifty IT | 27,752.70 | +392.35 | +1.43% |
GIFT NIFTY Session
GIFT NIFTY closed at 23,680.00, down 185.0 points or 0.78% from the previous close of 23,865.00. The contract opened at 23,763.50 in the overnight session and traded in a wide intraday range between 23,848.50 and 23,589.50, diverging from the cash market's positive close.
The session saw sharp volatility with an early morning spike to 23,877.50 at 03:55 SGT, followed by sustained selling pressure through the Indian cash market hours. GIFT NIFTY fell to an intraday low of 23,589.50 at 17:20 SGT during the late afternoon session before paring some losses into the close, reflecting a discount to the Nifty 50 spot close.
| Metric | Level |
|---|---|
| Open | 23,763.50 |
| High | 23,848.50 |
| Low | 23,589.50 |
| LTP | 23,680.00 |
| Change | -185.0 (-0.78%) |
GIFT NIFTY heads into Session II trading at a 63-point discount to the Nifty 50 cash close, with the contract positioned below the psychological 23,700 mark after a day of pronounced weakness in the derivatives market.