Day Stock Market Money Maker News 23 May

The markets traded sideways for the first half of the session and broke down in the last hour to close in red territory with loss of approx 0.40%. Indian indices were affected after the prospects of early rate hike by the US Federal Reserve in June despite of strength so seen in European markets. Continuous foreign fund outflow and weak Rupee also added to weaken the sentiments. Domestic cues such as Election results were also unable to cheer the markets.

Pharma and Realty were hit the most during the session while FMCG closed in green on the back of gains in ITC.

Global Market Updates:

  • Wall Street rallied on Friday, led by tech stocks on the back of Applied Materials’ profit forecast, ending a volatile week on a positive note.
  • Ford Motor Co has issued a voluntary recall of 48700 SUVs in India to fix faulty fuel and brake lines and rear folding seats.

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