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Nifty 50 closes flat after hitting a new high at 22,297 points. The short-term outlook remains positive with resistance at 22,400. 10 out of the 50 constituents of the index achieved new record highs. In terms of sector-specific performance, Nifty Media jumped by 1.36%.
Reliance Industries' robust performance contributed 142 points to Nifty 50's total gain of 385 points today, accounting for 37% of the overall rally.
Sensex jumped 367.47 points, or 0.56 per cent, to end the day at 66,527.67, while NSE's Nifty50 gained 107.75 points, or 0.55 per cent, to end the day at 19,753.80 for the day.
Indian equities finished Wednesday positively, with Nifty up 0.5% to over 19,750 levels, ahead of the release of the Fed meeting outcome. Sectoral indices for Nifty PSU Bank, FMCG, and Realty had the highest gains, while Nifty Consumer Durable and Auto Index went down. Analysts propose that there will potentially
Post Market views for May 5, 2023 - By Mr. Mitul Shah - Head of Research at Reliance Securities.