The BSE Sensex, a key indicator of the Indian stock market, experienced a decline of 0.55 per cent or 412 points, trading 74,090, Similarly, the NSE Nifty, another crucial benchmark, was at 22,564, down by 0.62 per cent or 140 points. A total of 3,811 stocks were actively traded; 1,242 advanced, while 2,452 declined, and 117 stocks remained unchanged, where 113 stocks hit a 52-week high, and 43 stocks hit a 52-week low at 1 pm on the BSE.
Deven Mehata, Research Analyst, Choice Broking, “The benchmark Sensex and Nifty indices are expected to open on a negative note on May 30, following GIFT Nifty trends indicating a loss of 90 points for the broader index.
Nifty can find support at 22,650, followed by 22,600 and 22,500. On the higher side, 22,800 can be an immediate resistance, followed by 22,850 and 22,900.
The charts of Bank Nifty indicate that it may get support at 48,300, followed by 48,100 and 48,000. If the index advances, 48,600 would be the initial key resistance, followed by 48,800 and 48,900.
On May 29, foreign institutional investors sold Indian equities worth Rs 5,841.84 crore, while domestic institutional investors bought equities worth Rs 5,233.79 crore on the same day. INDIAVIX was flat yesterday and is currently trading at 24.1750.
Yesterday, we saw heavy selling from FIIs. The global market was also down yesterday, leading to a gap opening in Indian markets. On the downside, Nifty finds significant support at 22500 levels. If the Nifty breaks 22500, we might expect more declines on the monthly expiry.”
Top gainers on the NSE include ICICI Bank (0.87%), Bharti Airtel (0.56%), Kotak Bank (0.43%), HDFC Bank (0.35%), SBI (0.15%)
Top losers include Tata Steel (-4.73%), Shriram Finance (-2.98%), Titan (-2.77%), Nestle India (-2.64%), Power Grid (-2.42%).
BSE Smallcap was up by 0.39 per cent, while BSE Midcap was down by 0.055 per cent.