Sensex Drops as Sectoral trends show Oil & Gas, Capital Goods, Telecom, PSU Bank, Power, and Realty down 1-2 percent, while the pharma index rose 0.5 percent.
The Indian benchmark indices, Sensex and Nifty, experienced consolidation mode on May 28, with the Sensex down 220.05 points and the Nifty down 44.30 points. The market fluctuated between gains and losses, with biggest Nifty losers being Adani Ports and Power Grid Corp.
Sectors and stocks
Sectoral stocks saw a 1-2% drop, while pharma index increased by 0.5%. BSE Midcap index fell by 0.5%, while Nalco, India Cements, and Bandhan Bank experienced a volume spike.
Over 150 stocks reached 52-week highs on the BSE, with long build-ups in Glenmark Pharma, Divis Laboratories, and Sun TV Network, while short build-ups were observed in Info Edge, SAIL, and Bank of Baroda.
May 29 Forecast
The Indian Stock Exchange (ISE) ended its rangebound activity with a loss of 44.30 points at 22,888.15. Pharma was the top performer, followed by Media, Realty, and PSU banking. Broader markets restricted the index’s up-move.
The Nifty index remained within a range due to lack of breakouts. Call writing was heavy at 23000, 23100, and 22900 strikes, while Put writers were less active. High India VIX suggests elevated market volatility.
The Nifty closed slightly lower, with realty and energy being top losers. The broader indices also experienced losses. The Nifty is expected to consolidate, with traders using dips to accumulate quality stocks. Sector-wise, IT and FMCG should be monitored.
| FII Sold | 65.57 Cr |
| DII Bought | 3,231.67Â Cr |
Indian Market Stocks
| Sensex | -220.05 | -0.29% | 75,170.45 |
| Nifty 50 | -44.30 | -0.19% | 22,888.15 |
| Nifty Bank | -139.65 | -0.28% | 49,142.15 |
Market Movers
| Divis Labs | 136.85 3.22% | Adani Ports | -31.15 -2.18% |
| SBI Life Insura | 40.55 2.88% | Power Grid Corp | -5.15-1.62% |
| Axis Bank | 14.20 2.52% | BPCL | -9.55 -1.46% |
| Adani Ports | 49.70 2.08% | Coal India | -6.80 -1.38% |
| LTIMindtree | 100.05 1.97% | Adani Enterpris | -45.00 -1.37% |
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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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