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BW Businessworld

Sensex Gains 159 Points, Reclaims 50,000

The BSE Sensex posted gains in 21 shares out of 30 at the market opening on Thursday.

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The Indian markets opened higher on Thursday, May 20 led by advances in some banking stocks. The BSE Sensex surged 159.12 points at 50,061.76, while the Nifty-50 index was up by 30.50 points at 15,060.70 at the market opening.
 
The 30-share pack Sensex marked gains in 21 shares and nine declines in the opening trade. Shares of Titan Company, L&T, and ICICI Bank were among the top gainers for the index as they advanced over a per cent each.

On the flipside, shares of ONGC(-2.44 per cent), Axis Bank(-0.80 per cent), and Sun Pharma(-1.21 per cent) were among the top losers of the index at the time of filing.

Sectorally, Metal stocks remained under pressure on heavy selling in the early trade. Shares of Jindal Steel, Hindalco, and Tata Steel dipped over four per cent each. The overall metal index lost four per cent too.
In the overall market breadth, 1133 shares posted gains and 304 shares were trading with losses at market opening on Thursday.

However, the overall sentiment remains under pressure owing to the weak movement in the foreign markets and concerns over the rising death toll in the country from Covid-19 cases, said experts.

Among the global markets, the U.S markets closed lower post the minutes from an April Federal Reserve Meeting which showed that the U.S economy remained far from their central bank's goals. Asian markets were also trading lower in the morning trade after the stocks in wall street closed lower.


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