Stock Market Highlights, May 28: Sensex falls 220 pts after listless session; SmallCaps bleed

Stock Market Highlights on May 28, 2024: The losses were steeper in the broader markets where the BSE MidCap fell 0.63 per cent, and the BSE SmallCap slipped 1.09 per cent

Stock Market Closing Bell on Tuesday, May 28, 2024: Equity markets took a breather on Tuesday after hitting record highs for three consecutive days. The S&P BSE Sensex, which swung between gains and losses through the day, settled near day's low level at 75,170, down 220 points or 0.29 per cent. The NSE Nifty50, on the other hand, shut shop at 22,888, down 44 points or 0.19 per cent.

The frontlines were weighed by Adani Ports, Power Grid, Coal India, ONGC, BPCL, Tech M, Tata Motors, Bharti Airtel, NTPC, Maruti Suzuki, Reliance Industries, and ITC. These stocks were down in the range of 0.5 per cent to 2 per cent.

The losses were steeper in the broader markets where the BSE MidCap fell 0.63 per cent, and the BSE SmallCap slipped 1.09 per cent.

Among sectors, the Nifty Realty shed 2.3 per cent, the Nifty PSU Bank 1.4 per cent, and the Nifty Metal 0.58 per cent.

3:48 PM

Tech View :: Two technical indicators suggest bullish momentum in Bank Nifty

The Bank Nifty index found strong resistance at 49,500-49,600 due to visible selling pressure, while 49,000 serves as a robust support level.

The momentum indicator RSI at 61 and the index maintaining above its 14-day EMA indicate a bullish undertone.

A buy-on-dips strategy is recommended, with a stop-loss set at 48,700. On the higher end, 49,500-600 might continue to remain a strong resistance

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

3:46 PM

Tech View :: How to trade Nifty? Check key levels to watch

Significant Call writing was observed at the 23,000 strike price, followed by the 23,100 and 22,900 strikes.

In comparison to the heavy Call writing, Put writers were less active, leading to a decline in the PCR. The high India VIX suggests that market volatility might remain elevated.

On the higher end, the 22,950-230,00 zone might act as a strong resistance, and any rise may attract selling pressure. On the lower end, the Nifty might drift down towards 22,800/22,600.

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

3:43 PM

Currency check :: Rupee ends 4 paise lower at 83.18/$

3:41 PM

Broader markets :: SmallCap index declines 1%

3:39 PM

Sectoral trends :: Realty index suffers the most, PSBs follow

3:38 PM

Sensex Heatmap :: Power Grid, NTPC, Tech M, Airtel top laggards on 30-stock index

3:37 PM

Closing Bell :: Nifty ends below 22,900

3:36 PM

Closing Bell :: Sensex declines over 200 pts in fag-end

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3:22 PM

ALERT :: India, France to begin negotiations in Rs 50,000-crore Rafale Marine jet deal, says report

>> Deal is for 26 jets

>> Negotiations likely to happen this week

Source: ANI

3:10 PM

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3:01 PM

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