Sensex ends 194 pts lower owing to late selling; Broader indices outperform

CLOSING BELL ON JUNE 01, 2023: The NSE Nifty 50 settled with a loss of 47 points below the 18,500-mark. Overall market breadth was fairly positive.

Stock Market Highlights: The key benchmark indices exhibited lacklustre movement for the major part of the trading session on Thursday, before the last hour selling forced the indices end into the negative zone. Broader markets, however, managed to hold gains for the day.

The S&P BSE Sensex, which, had touched a high of 62,762, slid into red to a low of 62,359 – down 403 points from the day’s high. The Sensex finally ended with a loss of 194 points at 62,429. The NSE Nifty gave-up the 18,500 level in late trades, and settled at 18,488 – down 47 points.

Broader indices, however, managed to outperform the benchmarks. The BSE Midcap index was up 0.1 per cent, while the Smallcap index added 0.6 per cent. The overall breadth too was fairly positive, with nearly 2,100 advancing shares versus 1,440-odd declining stocks on the BSE.

Sectorally, realty and healthcare shares outperformed with Suven Pharma, Apollo Hopsitals, Aarti Drugs, Sobha, Phoenix and Macrotech Developers as the top gainers.

Auto shares finished on a mixed note following the montly sales numbers. Bajaj Auto, Tata Motors and Hero MotoCorp ended higher; while TVS Motors and Maruti slipped.
 

3:53 PM

Comment :: 'Rise in US bond yields put pressure on equities'

Despite challenges in the global economies, the domestic market displayed better than estimated Q4 earnings growth, along with 7.2% GDP growth in FY23, adding buoyancy to the market during the week. However, today the market closed with a marginal negative bias in which banks witnessed heavy profit booking. Investors turned cautious in anticipation of inflationary pressure in the US after raising the US debt ceiling. The US 10-year bond yield inched higher; the market is looking ahead to the trajectory of US interest rates to get more visibility.

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

3:50 PM

Tech View :: 'Nifty Bank has support around 43,500-43,400'

The Bank Nifty index remained under the control of bears as they maintained their grip on the market. Selling pressure was observed from the resistance zone around 44200, suggesting that sellers were active at that level. If the index sustains below the level of 44,000, it could indicate further downside potential. In such a scenario, the index may witness a decline toward the support zone around 43,500-43,400.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

3:48 PM

Tech View :: 'Sentiment may remain negative until Nifty surpasses 18,500'

The Nifty index experienced a limited movement, staying within a certain range throughout the day. However, the closing saw a prevalence of selling pressure. The overall sentiment in the market is expected to remain negative until the Nifty index manages to surpass the 18,500 level. If the index fails to move back above this level, it could potentially lead to a correction in the market. On the downside, there is support expected around the range of 18,300-18,350. Conversely, resistance can be anticipated at the higher end around 18,650.

Views by: Rupak De, Senior Technical at LKP Securities

 

3:44 PM

Currency check :: Rupee ends at 82.41/$ against Wednesday’s close of 82.72/$

3:41 PM

Market Check :: Top losers on the BSE today

3:41 PM

Market check :: Top gainers on the BSE today

3:39 PM

Broader market :: Mid, SmallCaps outshine frontline peers

3:37 PM

Sector close :: Indices end mixed; Pharma, Realty indices gain 1%, Banks drag

3:36 PM

Sensex Heatmap :: 13 stocks drop in trade, Airtel, ICICI Bank worst hit

3:34 PM

CLOSING BELL :: Nifty ends below 18,500

3:33 PM

CLOSING BELL :: Sensex sheds 194 pts in late deals, ends low for second day

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