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IT, Metals drag Sensex 236 pts down; Delhivery rises 10%, Zomato 15%

CLOSING BELL: On the NSE, the Nifty50 shut shop at 16,138, down 77 points or 0.47 per cent

Image SI Reporter New Delhi
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Stock market highlights: 
Equity markets swung in trade amid lack of fresh triggers for a decisive move. The S&P BSE Sensex see-sawed between 54,524 and 53,886 -- a range of 638 points -- before settling the day at 54,053, down 236 points or 0.43 per cent.

On the NSE, the Nifty50 shut shop at 16,138, down 77 points or 0.47 per cent. The index had hit a high of 16,263 and a low of 16,079 during the choppy session.

IT, metal, and pharma stocks weighed on the benchmarks with Divis Labs, Grasim, Tech M, Hindalco, ONGC, HUL, HCL Tech, and Tata Consumer, and Infosys sliding in the range of 2 to 6 per cent. On the upside, Dr Reddy's Labs, Kotak Bank, HDFC twins, and Tata Motors helped trim the losses. These shares rallied between 1 and 1.5 per cent.

The BSE MidCap and SmallCap indices, meanwhile, slipped 0.85 per cent and 1.14 per cent, respectively. Among sectors, the Nifty IT and Pharma indices shed 1.4 per cent and 2 per cent, respectively, on the National Stock Exchange, while the Nifty Financial Services index added 0.4 per cent. 

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Logistics giant Delhivery closed at Rs 538 as against its issue price of Rs 487 a share. 

Venus Pipes and Tubes, on the other hand, ended at Rs 352 relative to its issue price of Rs 326 on the BSE. 
4:06 PM

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

Nifty remained directionless during the day leading to volatility in the market. On the higher end, 16400 is likely to remain a resistance over the near term. Support on the lower end remains at 16000-16020. Going ahead, the volatility may continue over the near term. Any decisive breakout above 16400 may induce a strong directional move in the market.

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4:01 PM

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

Anxiety of slowing economy & rising interest rates underpinned by soaring inflation continued to haunt the global market. The UK and Eurozone composite PMI registered the slowest rise in business activity in the month of May, worsening global investor risk sentiment. On the domestic front, while all major sectors succumbed to the pressure, the auto sector bucked the market trend this month gaining on fuel price cut and rise in steel custom duty.

3:59 PM

Closing bell: Over 2,000 stocks declined whereas 1,036 advanced

3:53 PM

Closing bell: Adani Power, Coromandel International claim fresh 52-week high

3:46 PM

Closing bell: Divi's Lab, Tech Mahindra, Grasim top Nifty 50 losers

3:42 PM

Closing bell: Dr Reddy's, HDFC, Kotak Bank top Nifty 50 gainers

3:39 PM

Closing bell: Nifty Media worst sectoral performer

3:37 PM

Closing bell: Smallcaps underperform Midcaps; India Vix climbs above 9%

3:36 PM

Closing bell: Barring BFSI and auto, all sectors slip in red

3:34 PM

Closing bell: 10 out of 30 Sensex stocks close in positive territory

3:33 PM

Closing bell: Over 200 points downfall for Sensex

3:32 PM

Closing bell: Nifty 50 closes below 16,150 levels

3:28 PM

Cement stocks lose steam; Shree Cements hits 52-week low

3:23 PM

Auto stocks defy market mood; Ashok Leyland up over 4%

3:13 PM

Media stocks bleed; PVR, Inox Leisure shed up to 6%

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First Published: May 24 2022 | 8:15 AM IST

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