A slight upward trend was seen in the domestic stock market today i.e. on 14th May. In early trading, major indices were seen in the green, due to which there was a positive atmosphere among the investors.
During trading, the Sensex was seen trading around the level of 74,700 with a gain of about 100 points. At the same time, Nifty 50 also recorded a rise of about 50 points and was trading near the level of 23,500.
Today, more buying was seen in shares of auto, metal, banking and pharma sectors in the market. The rise in these sectors supported the entire market and strengthened investor sentiment.
According to experts, there is a positive trend in the market in recent times due to stability in global cues and improvement in domestic economic data. Apart from this, investors are also keeping an eye on the quarterly results of many big companies, the impact of which is being seen on the sector-wise movement.
Expectations regarding demand in the auto sector remain strong, while buying is being seen in the banking sector due to credit growth and strong balance sheet. Similarly, good growth was recorded in select stocks in pharma and metal sectors also.
However, market experts also say that despite the current bullishness, investors need to remain cautious, as global economic signals and fluctuations in crude oil prices can affect the direction of the market.
Overall, today’s trading seemed to be moving ahead with mild positivity and the market remained in a limited range and maintained its gains. Investors are now eyeing the upcoming economic data and global market trends.
