Share Market Highlights 13 May 2024: Sensex and Nifty recover to trade in green; Cipla gains over 5%

Sensex, Nifty updates on 13 May 2024: Indian benchmark indices, the Sensex and Nifty, recover to trade in positive territory. At 3:40 pm, the NSE Nifty was up by 0.22 per cent or 48.85 points to 22,104.05, while the BSE Sensex was at 72,776 up by 0.15 per cent or 111.63 points. Analysts predict a volatile market, especially in the mid- and small-cap sectors, with foreign selling remaining a challenge. The VIX, indicating market nervousness, crossed 18. Anand James, Chief Market Strategist at Geojit Financial Services, compares the current rise in the VIX to the period before the 2019 election, noting the rapid increase in volatility expectations. He suggests a potential cool-off in the VIX, possibly before the electoral results. Equities across Asia-Pacific were down due to weak data from China. Last week, FIIs sold ₹18,343 crore in the cash market, while DIIs bought ₹14,657 crore. Both indices closed with losses, underperforming global markets. Nearly 440 companies are set to announce their Q4FY24 results this week. Traders are advised to adjust positions, focusing on sectors like FMCG and automotive. The market awaits key economic data and ongoing election updates.