Indian equity markets are lower on Monday (May 13) in a muted trade after the sharp advance.See what happened last session. At the time of the market opening, the Nifty 50 and BSE Sensex were hardly changed from their recent corrections and are looking for the next cues.
Early Trade Shows Consolidation
After a strong positive intraday on Monday following soft geopolitical tensions and positive global news, which helped push the index higher, the markets were opening in cautious mode today. At the time of this writing, the Nifty 50 is a little below the 24,900 level, and the Sensex is closing with a modest negative.
Also check:- Indian Stock Markets Rally Sharply as Tensions Ease, Global Cues Improve
It means that the period of consolidation is where traders will try and figure out whether the recent uptrend is sustainable. As for the small-cap and mid-cap indices, however, they are proving a little more resilient, trading in green.
Motivators That are Causing the Sense
Markets paused heading into what will be tomorrow’s important domestic inflation data (CPI) release and its forecast for future monetary policy. With global cues remaining upbeat due to the progress of US-China trade negotiations and robust overnight responses on Wall Street, the eyes are now on domestic economic data and potential ‘come down’ after the huge surge yesterday.
Sectoral Performance: Mixed
Intra-day, sectoral performances are mixed. There is some positive movement seen in Pharma due to the global scenario of drug pricing. Still, big gears like IT and Banking are posting selling pressure, which is adding a slight downside for the benchmark indices. Stock activity is varied due to factors in specific sectors as well as corporate news.
