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HomeUncategorizedSensex, Nifty Remain Flat as Election Uncertainty, Earnings Worries Linger.

Sensex, Nifty Remain Flat as Election Uncertainty, Earnings Worries Linger.

Sensex and nifty closed flat, BSE Smallcap and BSE Midcap experienced a 0.5% and 0.8% increase respectively, indicating resilience amidst losses of nearly 2% each..

Sensex and Nifty indices closed unchanged due to election uncertainty and subdued corporate earnings. However, broader markets showed resilience, with BSE Smallcap and BSE Midcap recovering from losses.

Nifty FMCG Index and Nifty IT saw gains, while realty and metals fell, while Nifty PSU Bank Index, Nifty Healthcare, and Nifty Auto saw losses.

Sectors and stocks

The market closed flat, with the Sensex losing 0.06 percent and Nifty remaining flat at 22302.50 levels. Sectors like Nifty AUTO, Nifty PSU BANK, and Nifty METAL ended in green, while IT, Nifty FIN SERVISES, and Nifty PVT BANK ended lower. Top gainers were HeromOTOCORP, BPCL, and TATA MOTORS, while laggards were ASIAN PAINTS, GRASIM, and DRREDDYS.

May 09 Forecast

Investors traded cautiously due to lack of positive triggers and selective profit taking in banking and IT stocks. European market cues and election season discouraged longish bets.

The Nifty and Bank Nifty both experienced high volatility, but both closed negative on their weekly expiry, despite overcoming strong support at 47900 levels.

The Bank Nifty index experienced a volatile trading session, with support at 47770 and resistance at 48250. A breach above 48250 could lead to call writing activity.

FII Sold-6,669.10 Cr
DII Bought5,928.81 Cr
as per last trading session

Indian Market Stocks

Sensex-383.69-0.52%73,466.39
Nifty 500.00+0.00%22302.50
Nifty Bank-264.25-0.55%48,021.10
as per closing Bell

Market Movers

Hero Motocorp137.15 3.06%Dr Reddys Labs-201.25 -3.22%
BPCL16.00 2.65%Asian Paints-69.70 -2.39%
Tata Motors23.55 2.38%Grasim-43.65 -1.80%
Power Grid Corp6.75 2.29%UltraTechCement-163.00 -1.68%
Hindalco13.30 2.14%HUL-38.35 -1.61%
as per closing Bell

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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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