Sensex and nifty closed flat, The Nifty Realty index increased by 2.76%, while the Nifty PSU Bank index dropped by 3.66%, consumer durables, oil & gas, and oil & gas lost by 2.55% and 1.755%, respectively.
India’s Sensex and Nifty ended flat, with the Sensex up 17.39 points and the Nifty down 33.15 points, largely due to selling in PSU stocks.
Kotak Mahindra Bank outperformed Tata Consultancy Services and Hindustan Uneliver, while Titan Co Ltd experienced its sharpest decline in 22 months, with SBI and NTPC losing 2.9% and 2.31 percent respectively.
Sectors and stocks
The Nifty Realty index increased by 2.76%, while the Nifty PSU Bank index dropped by 3.66%, with consumer durables and oil & gas sectors losing 2.55 percent and 1.75 percent, respectively.
Shares of REC, PFC, and IREDA plunged by 11% due to the Reserve Bank of India’s draft guidelines on project financing, which propose a 5% general provision on all loans during the construction phase.
May 07 Forecast
Domestic indices traded range-bound due to PSU banks’ underperformance, RBI’s tight lending norms, valuation concerns, profit booking, weaker US payroll data, and FED speakers’ insights on future monetary policy.
Markets ended mixed, with selective buying in banking, IT, realty, and auto stocks boosting Sensex but erasing gains in oil & gas, power, consumer durable, and capital goods stocks.
The benchmark indices showed weak activity today, with the Nifty ending 33 points lower and the Sensex up 17 points. Sectors like PSU Bank index lost the most, while Reality index outperformed. Technically, profit booking occurred at higher levels. The short-term market texture is weak, with 22600/74400 acting as a trend decider.
The Nifty market experienced mixed signals, with modest gains in realty and IT, while declines in energy and metal sectors. Broader indices performed weaker than the benchmark. The India VIX increase is impacting sentiment, potentially exerting pressure on the Nifty. A break below 22,400 could dampen bullish sentiment.
| FII Sold | -2,168.75 Cr |
| DII Bought | 781.39Â Cr |
Indian Market Stocks
| Sensex | 17.39 | +0.02% | 73,895.54 |
| Nifty 50 | -33.15 | -0.15% | 22,442.70 |
| Nifty Bank | -28.25 | -0.06% | 48,895.30 |
Market Movers
| Britannia | 317.00 6.68% | Titan Company | -253.75 -7.18% |
| Kotak Mahindra | 77.60 5.02% | Adani Enterpris | -118.60 -3.96% |
| TCS | 77.65 2.02% | BPCL | -19.60 -3.11% |
| HUL | 39.15 1.77% | Coal India | -14.00 -2.95% |
| M&M | 31.95 1.46% | SBI | -23.65 -2.84% |
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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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