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Stock Market Highlights, May 27: Sensex, Nifty slip into red in fag-end; metal, auto stocks weigh

Stock Market Highlights on May 27, 2024: Among sectors, the Nifty PSU Bank index gained over 1 per cent, and the Nifty Bank 0.6 per cent

SI Reporter New Delhi

Photo: Bloomberg

Closing Bell on Monday, May 27, 2024: Benchmark S&P BSE Sensex, and the Nifty50 hit fresh record highs for a third straight day on Monday in intraday trade. The BSE Sensex index hit a new lifetime high of 76,010, before cooling off to end at 75,391, down 20 points or 0.03 per cent, amid weakness in metal, and auto shares.

The Nifty50, on the other hand, touched a new summit of 23,111, before settling at 22,932, down 25 points or 0.11 per cent.

In the broader markets, the BSE MidCap index hit a new all-time high of 43,985 intraday, but ended at 43,784, up 0.63 per cent.

The BSE SmallCap index, however, stayed tepid through the day and failed to notch a new high. It closed 0.09 per cent lower.

Among sectors, the Nifty PSU Bank index gained over 1 per cent, the Nifty Bank 0.6 per cent, and the Nifty Realty 0.85 per cent.

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3:56 PM

Tech View :: Key levels to watch on Nifty50

Nifty remained mostly volatile during the day as India awaits the final phase of the general election. The near-term outlook remains positive, with the index staying above the crucial moving averages. Support lies at 22,900, below which the index might slip towards 22,800. On the higher end, bears are active around 23,000-23,050. A decisive move above 23,050 might trigger a stronger rally towards higher levels."

Views by: Rupak De, Senior Technical Analyst, LKP Securities

3:53 PM

Comment :: What all happened in the markets today?

The bulls are facing stiff resistance at 23,000 levels as investors start booking profit at higher levels to avoid any knee jerk reaction in the market ahead of the election result. Better earnings growth, the expectation of a revival in private capex, and a moderation in FIIs selling intensity are the key positive triggers in the market. The release of India's Q4 GDP and US inflation figures this week will also influence investors to get a direction in the near term.

Views by: Vinod Nair, Head of Research, Geojit Financial Services.

3:47 PM

Currency check :: Rupee ends at 83.13/$ against Friday’s close of 83.10/$

3:43 PM

Sectoral trends :: Index end mixed; PSVs rally, Metals slip

3:40 PM

Sensex Heatmap :: Wipro, ITC, Sun Pharma weigh on index

3:37 PM

Closing Bell :: Nifty fails to hold 23,000

3:33 PM

Closing Bell :: Sensex erases all gains, ends 20 points lower

3:28 PM

Hyundai Motor adds Kotak, Morgan Stanley for possible record India IPO

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3:15 PM

PSBs extend rally on RBI's bonanza to central Govt; IOB, PSB rally upto 10%

Indian Overseas Bank (IOB), Uco Bank, and Punjab and Sind Bank rallied between 5 per cent and 10 per cent on the National Stock Exchange (NSE) in Monday's intraday trade. Central Bank of India, Bank of Maharashtra, Punjab National Bank, Union Bank of India, and Indian Bank, on the other hand, were up in the range of 2 per cent to 4 per cent. READ MORE

3:03 PM

Sustained fiscal deficit reduction positive for India's ratings, says Fitch

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