Sensex drops as Sectoral trends showed mixed results, with capital goods, telecom, healthcare, metal, and power ending in green, while auto, bank, FMCG, IT, oil & gas, and realty experienced a 0.2-1 percent decrease.
The Indian equity market continued its fourth consecutive session of losing, with the BSE midcap index down 0.4% and the smallcap index up 0.2%, largely due to selling in oil & gas, IT, realty, and banking sectors.
Sectors and stocks
The market opened negatively due to mixed global cues, with Sensex and Nifty falling below 74,500 and 22,700 respectively. Sectoral trends showed mixed results, with capital goods, telecom, healthcare, metal, and power ending in the green, while auto, bank, and FMCG sectors fell.
The BSE midcap index fell 0.4%, while the smallcap index rose 0.2%. GNFC, Ipca Lab, Piramal Enterprises, Samvardhana Motherson International, Hindalco Industries, Jubilant FoodWorks, and ICICI Prudential Life Insurance experienced volume spikes.
May 30 Forecast
Bears caused a steep fall in the opening trade, with minor recovery in mid-session but dragged the Nifty50 below 22,700. Pharma and Metal were top performers, while Banking and IT counters were laggards. Mid and Smallcap segments outperformed Frontline Index. Nifty breached 22,780 support, but a short covering move could bring it above the triangle pattern breakout point.
Bears controlled the market, leading to a sharp fall in the Nifty. Call and put writing activities were observed at various strikes, suggesting an expiry around 22,800. The Bank Nifty index, which opened below its support level at 49,000, closed near its 21-day EMA at 48,400, with 49,000 acting as the new resistance level.
Markets experienced a 5% loss, with the Nifty fluctuating within a range. Banking, financial, and IT sectors were the top losers. Broader indices performed better. Investors should be cautious, with volatility expected due to expiring derivatives contracts.
| FII Sold | -5,841.84 Cr |
| DII Bought | 5,233.79Â Cr |
Indian Market Stocks
| Sensex | -667.55 | -0.89% | 74,502.90 |
| Nifty 50 | -183.45 | -0.80% | 22,704.70 |
| Nifty Bank | -640.80 | -1.30% | 48,501.35 |
Market Movers
| Hindalco | 24.00 3.52% | HDFC Life | -16.60 -2.87% |
| Power Grid Corp | 4.90 1.57% | SBI Life Insura | -37.95 -2.62% |
| Divis Labs | 55.90 1.27% | ICICI Bank | -24.95 -2.21% |
| Nestle | 24.50 1.00% | TATA Cons. Prod | -24.25 -2.21% |
| Sun Pharma | 14.05 0.96% | Tech Mahindra | -28.65 -2.18% |
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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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