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.
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.
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.
CURRENCY CHECK: Rupee depreciates 12 paise against US dollar
Closing bell: Over 1,700 stocks advanced whereas 1,592 declined
Closing bell: Anupam Rasayan, Bajaj Consumer among stocks that hit 52-week low
Closing bell: M&M, HAL among stocks that hit new 52-week high
Closing bell: Nifty Realty best sectoral performer
Closing bell: Kotak Bank, Sun Pharma, HDFC top Nifty50 losers
Closing bell: ONGC, NTPC, M&M top Nifty50 leaders
Closing bell: Smallcaps outshine Midcaps; India Vix climbs 2%
Closing bell: Realty stocks shine; PSBs bleed
Closing bell: 13 out of 30 Sensex stocks close negatively
Closing bell: Sharp selloff pulls Nifty50 below 16,600
Closing bell: Sensex snaps 3-day winning streak, down over 400 pts
Eurozone inflation hits record 8.1% amid rising energy costs
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First Published: May 31 2022 | 8:15 AM IST
