Sensex and nifty ended lower due to selling in IT, metal, media, oil & gas names, Both down 0.25% and 0.17% respectively,
The market experienced gains, with Nifty reaching a new high and Sensex approaching a record level. However, final hour selling erased gains, and Nifty Midcap 100 and Nifty Bank indices also reached record highs.
Sectors and stocks
The market will be closed on May 1 due to Maharashtra Day.
The Nifty saw top gainers like M&M, Power Grid Corporation, and Hero MotoCorp, while losers included Tech Mahindra, BPCL, JSW Steel, HCL Technologies, and Sun Pharma. Sectors saw IT, metal, media, oil & gas, healthcare decline.
Stocks like TEC, Jubilant Foodworks, and Exide Industries experienced a 300 percent volume spike. REC, PFC, M&M, IOC, Birlasoft, and Aditya Birla Capital also experienced a build-up.
May 02 Forecast
Indian equities began the session with positive momentum, but a sharp reversal in the last hour led to a red session at 22,604.85. Sectors included Auto, Realty, IT, and Metal. The Index made a bearish candle, with a probable RSI divergence. A break above today’s high negates candlestick implications.
Nifty experienced selling pressure due to resistance near previous swing high, resulting in a weak closing. Despite this, indicators like SMA and RSI suggest a positive trend. The trend may remain sideways unless above 22783, with immediate support at 22500.
| FII Bought | 1,071.93 Cr |
| DII Bought | 1,429.11 Cr |
Indian Market Stocks
| Sensex | -188.50 | -0.25% | 74482 |
| Nifty 50 | -38.55 | -0.17% | 22604.85 |
| Nifty Bank | -27.30 | -0.06% | 49396 |
Market Movers
| M&M | 94.30 4.57% | Tech Mahindra | -24.80 -1.93% |
| Power Grid Corp | 8.15 2.77% | BPCL | -11.45 -1.85% |
| Shriram Finance | 59.50 2.39% | JSW Steel | -13.55 -1.51% |
| Hero Motocorp | 85.35 1.91% | HCL Tech | -20.80 -1.50% |
| IndusInd Bank | 28.45 1.91% | Dr Reddys Labs | -92.80 -1.47% |
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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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