17 May , 2022 By : monika singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 were trading nearly 1 per cent up on Tuesday. BSE Sensex was up 292 points or 0.6 per cent to 53,266, while NSE Nifty 50 index reclaimed 15950 level. Tata Steel, IndusInd Bank, Reliance Industries Ltd (RIL), HCL Tech, ICICI Bank, Axis Bank, Bajaj Finance, SBI, HUL were among top index gainers. Sun Pharma, Infosys, Asian Paints, TCS, Tech Mahindra were among top index losers. Nifty Bank was up more than 1 per cent to 33,939 levels.
Life Insurance Corporation of India (LIC) shares made a tepid debut on the stock exchanges today, listing at a discount to the IPO price. Shares of the insurance behemoth started trading on BSE and NSE on Tuesday morning at Rs 872 per share, down 8.11% from its IPO price of Rs 949 per share.
The major event of the day is the LIC listing. The performance of LIC stock post listing will have a near term sentiment impact on markets. Markets will remain highly volatile in the short-term. High inflation and Fed tightening will continue to be short-term challenges for the market. In the medium-term, there is a possibility of inflation peaking off and if that happens the central banks may not tighten as much as the market fears now. In such a scenario markets can bounce back sharply. But this is some time away. In the near-term the market is likely to remain weak amidst high volatility. Long-term investors can buy high quality stocks across sectors, particularly in financials, IT and pockets of autos.
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