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Volume IconMarket Wrap, May 29: Sensex, Nifty snap three-day record closing run

Among Nifty sectoral indices, only Nifty IT managed to stay in the green zone, with Nifty PSU Bank index, down 2.8 per cent, falling the most, followed by Nifty Metal, down 1.9 per cent

ImageBS Web Team New Delhi
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Illustration by Binay Sinha

Benchmark indices ended Wednesday's trading session with losses ahead of the May series futures , thereby breaking the three-day streak when they closed at record high levels, ahead of expiry of May series F&O contracts. Bank, auto, and metal stocks suffered the deepest cuts.

The benchmark S&P BSE Sensex index slipped 248 points, or 0.6 per cent, to settle at 39,502, with State Bank of India, Tata Motors, Tata Steel, ICICI Bank, and Maruti Suzuki being the top losers. Only nine out of the 30 BSE constituents ended the day in green.

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The broader Nifty50 index gave up the 11,900-mark, and finished the day at 11,861 levels.

Among Nifty sectoral indices, only Nifty IT managed to stay in the green zone, with Nifty PSU Bank index, down 2.8 per cent, falling the most, followed by Nifty Metal, down 1.9 per cent.

In the broader market, the S&P BSE MidCap index slumped 126 points, or 0.8 per cent, to trade around 15,001 levels, while the S&P BSE SmallCap dipped 86 points, or 0.57 per cent, to end at 14,934.

BUZZING STOCKS

Logistics stocks were in focus in early morning trade on the BSE on Wednesday on the back of heavy volumes amid expectations of earnings improvement. 

Adani Gas shares hit a new high of Rs 174 before ending the day 2.6 per cent higher at Rs 167.45 on the BSE on the back of strong numbers in March quarter (Q4FY19) results. In comparison, the S&P BSE Sensex was up 0.65 per cent during the same period.

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First Published: May 29 2019 | 4:47 PM IST

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