Stock Market Today Live Updates: Sensex inches 600 pts higher, India VIX falls below 20 |

The indices continued to flicker near flatline after opening higher on Thursday (May 16) on positive global cues. Sensex opened 351.21 points, or 0.48 per cent higher to 73,338.20 while Nifty inched 118.70 points, or 0.53 per cent higher to 22,310.20.

Among the Sensex components, Mahindra & Mahindra (M&M), Reliance Industries, Bharti Airtel, Infosys, Tech Mahindra, HCL Technologies, and Tata Consultancy Services were the major gainers. Maruti, Tata Motors, Power Grid and Larsen & Toubro were among the laggards.

Among sectoral indices, IT and Realty inched nearly 1 per cent higher to lead gains in today’s session. On the other hand, PSU Bank remained in red after Energy and Commodities indices staged a recovery.

India VIX, also called as ‘Fear Index’, continued to soar higher as market participants anticipate higher volatile in near time. The reason cited by market analyst for this high volatility is the ongoing election season. India VIX closed marginally lower at 19.99.

The Indian rupee opened 2 paise stronger at 83.44 against the US dollar. The Indian currency had closed at 83.50 against the US currency. Forex traders said the rupee remains under pressure due to ongoing elections as well as foreign fund outflows, as per a PTI report.

Crude oil prices extended gains from the previous session. Brent futures rose 25 cents, or 0.32 per cent, to $82.49 a barrel while US West Texas Intermediate crude (WTI) gained 40 cents, or 0.5 per cent, to $79.03.

Meanwhile, the Indian government has slashed windfall tax on domestically produced crude oil to Rs 5,700 per tonne, from Rs 8,400 per tonne The tax is levied in the form of Special Additional Excise Duty (SAED).
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