Stock Market Today: Sensex Gains 50 Points, Nifty 50 Ends Above 23,400 as Mid and Small-Caps Outperform

Indian Stock Market Bounces Back with Modest Gains

The Indian stock market benchmarks, the Sensex and the Nifty 50, ended with modest gains on Wednesday, 13 May, snapping their four-day losing streak. The Sensex ended 50 points, or 0.07%, higher at 74,608.98, while the Nifty 50 rose by 33 points, or 0.14%, to end at 23,412.60.

The mid and smallcap segments outperformed, with the BSE 150 Midcap index rising by 0.71% and the BSE 250 Smallcap index climbing by 0.27%. The overall market capitalisation of the firms listed on the BSE rose to nearly ₹459 lakh crore from ₹456 lakh crore in the previous session, making investors richer by about ₹3 lakh crore in a single session.

The market's rise can be attributed to value buying in select heavyweights after the recent fall, which brought the Sensex and the Nifty 50 down by 4% each. Additionally, a decline in crude oil prices supported market sentiment, with Brent Crude declining nearly 1% to trade near the $107 per barrel. However, the rupee's fall to a fresh record low of 95.71 against the US dollar capped gains.

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The Nifty 50 saw 25 stocks falling and as many rising. Asian Paints, Adani Enterprises, and Tata Steel ended as the top gainers, while Eicher Motors, Mahindra & Mahindra, and Infosys ended as the top losers in the Nifty 50 index. The sectoral indices displayed a mixed performance, with Nifty Metal soaring by 3.18%, followed by Consumer Durables and Oil and Gas, which rose by 1.67% and 1.28%, respectively. In contrast, Nifty IT (down 1.13%) and Auto (down 1%) lost the most, while Bank Nifty shed 0.18%.

The overall sentiment remains cautious, with investors watching the market closely for further developments.