Sensex drops as In the May series, the Nifty50 index ended 0.4 percent lower.
Bears seized control on Dalal Street on May 30, as benchmark indices extended selling for fifth session, with Nifty finishing May F&O expiry below 22,500. Sensex and Nifty50 index closed 0.4% lower.
The Nifty index experienced losses, dragging it closer to 22,400, with biggest losers being Tata Steel, Tech Mahindra, Power Grid Corporation, Wipro, and Titan Company, while gainers included ICICI Bank, Axis Bank, HDFC Bank, SBI, and Kotak Mahindra Bank.
Sectors and stocks
The Bank index gained 0.5%, while Auto, FMCG, Metal, IT, and Healthcare indices shed 1-2%. BSE midcap and smallcap indices shed 1.2% each. Over 100 stocks reached 52-week highs.
May 31 Forecast
The Nifty closed negative, 216 points down, and is retracing its rise from 22054 to 23111. It has reached a crucial support cluster of 22460 – 22500, where the 20-day moving average and 50% Fibonacci retracement level are placed. Bank Nifty recovered smartly, closing with gains of 181 points. Positive momentum is expected to continue over the next few trading sessions, with the Nifty continuing its momentum till 49400 – 49500.
Nifty50 began the month’s expiry day lower at 22,650 due to weak global equities. The Index continued to lose, ending at 22,488.65 with a loss of 216.05 points. Metal and IT sectors corrected the most, while Broader markets underperformed. The index is in oversold territory.
| FII Sold | -3,050.15 Cr |
| DII Bought | 3,432.92Â Cr |
Indian Market Stocks
| Sensex | -617.30 | -0.89% | 73,885.60 |
| Nifty 50 | -216.05 | -0.80% | 22,488.65 |
| Nifty Bank | 181.00 | +0.37% | 48,682.35 |
Market Movers
| ICICI Bank | 11.70 1.06% | Tata Steel | -10.10 -5.80% |
| Axis Bank | 8.20 0.71% | Tech Mahindra | -45.60 -3.54% |
| HDFC Bank | 6.55 0.43% | Power Grid Corp | -11.00 -3.46% |
| SBI | 3.20 0.39% | Titan Company | -108.55 -3.21% |
| Kotak Mahindra | 2.25 0.13% | Wipro | -13.85 -3.07% |
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Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Sensex Sensex Sensex
Sensex After four weeks of increases, Sensex and Nifty fell 2% for the first time After four weeks of increases, Sensex and Nifty fell 2% for the first time
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
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