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Benchmarks snap 3-day winning run ahead of Q4 GDP data; Sensex fall 359 pts

CLOSING BELL: Sun Pharma, Kotak Bank, HDFC, SBI, Reliance Industries, Shree Cement, and HDFC Life fell up to 3.5 per cent.

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Stock market highlights: 
Equities snapped their 3-day winning streak ahead of the Q4 (March quarter) GDP data, and amid tepid global mood on Tuesday. The S&P BSE Sensex ended at 55,566, down 359 points or 0.64 per cent.

On the NSE, the Nifty50 traded between 16,522 and 16,691 during the day, before ending at 16,584.5, down 77 points or 0.46 per cent. The broader BSE MidCap and SmallCap indices, on the contrary, rose 0.5 per cent and 0.7 per cent, respectively.   

ONGC, M&M, NTPC, Coal India, PowerGrid, SBI Life, Apollo Hospitals, JSW Steel, and Britannia Industries were the top gainers on the Nifty50 index, rising 2 per cent to 5 per cent. On the downside, Sun Pharma, Kotak Bank, HDFC, SBI, Reliance Industries, Shree Cement, and HDFC Life fell up to 3.5 per cent. 

Sectorally, indices ended mixed with the Nifty Realty index climbing 2.2 per cent, and the Nifty PSU Bank index falling 1.1 per cent. 
4:08 PM

Technical View: Rupak De, Senior Technical Analyst at LKP Securities

Nifty remained volatile during the day before closing around the middle of the range. On the higher end, it found resistance at the 50EMA on the daily timeframe. Going forward, the trend may remain choppy as long as the index remains below 16700. On the lower end support is visible at 16400. 

stock markets

4:06 PM

Market view: Vinod Nair, Head of Research at Geojit Financial Services

Domestic market failed to hold on to recovery mode as it was awaiting the release of Q4 GDP data. GDP is expected to register a slower growth rate of 4.0-4.2 per cent as the consumer spending and investments were hit by soaring inflation. A hike in oil prices due to the EU’s ban on Russian oil imports would act as a headwind in taming global inflation. Changes in policy by central banks would be a major factor to be monitored in the coming days.

4:01 PM

CURRENCY CHECK: Rupee depreciates 12 paise against US dollar

3:54 PM

Closing bell: Over 1,700 stocks advanced whereas 1,592 declined

3:50 PM

Closing bell: Anupam Rasayan, Bajaj Consumer among stocks that hit 52-week low

3:48 PM

Closing bell: M&M, HAL among stocks that hit new 52-week high

3:46 PM

Closing bell: Nifty Realty best sectoral performer

3:44 PM

Closing bell: Kotak Bank, Sun Pharma, HDFC top Nifty50 losers

3:40 PM

Closing bell: ONGC, NTPC, M&M top Nifty50 leaders

3:37 PM

Closing bell: Smallcaps outshine Midcaps; India Vix climbs 2%

3:36 PM

Closing bell: Realty stocks shine; PSBs bleed

3:34 PM

Closing bell: 13 out of 30 Sensex stocks close negatively

3:33 PM

Closing bell: Sharp selloff pulls Nifty50 below 16,600

3:32 PM

Closing bell: Sensex snaps 3-day winning streak, down over 400 pts

3:26 PM

Eurozone inflation hits record 8.1% amid rising energy costs

Energy prices jumped 39.2%, highlighting how the war and the accompanying global energy crunch are making life more expensive for the eurozone's 343 million people. READ HERE


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First Published: May 31 2022 | 8:15 AM IST

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