Key benchmark uncertainties broke their 3-day winning streak ahead of fourth quarter (March quarter) GDP data and a sluggish global mood on Tuesday. The S&P BSE Sensex ended 359 points or 0.64 per cent lower at 55,566. On the NSE, the Nifty 50 traded between 16,522 and 16,691 during the day, ending 77 points or 0.46 per cent lower at 16,584.5. In contrast, the broader BSE Midcap and Smallcap indices rose 0.5 per cent and 0.7 per cent, respectively.
ONGC, M&M, NTPC, Coal India, PowerGrid, SBI Life, Apollo Hospitals, JSW Steel and Britannia Industries were the top gainers on the Nifty 50 index, rising 2 per cent to 5 per cent. On the downside, Sun Pharma, Kotak Bank, HDFC, SBI, Reliance Industries, Shree Cement and HDFC Life fell up to 3.5 per cent.
Sector wise closed mixed with index nifty The realty index rose 2.2 per cent, and the Nifty PSU Bank index fell 1.1 per cent.
between shares, LIC fell more than 2 percent. The insurance company reported a net profit of Rs 2,371.55 crore in the March quarter, which is 18 per cent lower than the net profit of Rs 2,893 crore in the corresponding period of the previous fiscal.
Navin Kulkarni, Chief Investment Officer, Axis Securities, said: “Following a benign core inflation print in the US on Friday, which indicated that US inflation may be peaking, we saw a worldwide rally on risks today following US signals. We expect the Indian market to remain volatile and Nifty to continue trading in a broad range of 1000-1200 points in the near future. We believe that this volatility will be used to increase their equity allocation for potential wealth creation. We believe that autos, private sector banks and agricultural inputs should outperform the market in the current environment.
global signal
The stock market in America was closed on Monday on the occasion of Memorial Day. Similarly, there was no trading in the Treasury as well as the US bond market. However, stock futures traded even though that was only as of 1:00 PM ET.
Tokyo shares opened lower on Tuesday after strong rallies in the previous session and with investors eyeing Chinese economic indicators later in the day. The benchmark Nikkei 225 index was down 0.25 per cent, or 69.75 points, at 27,299.68 in early trade, while the broader Topix index was down 0.31 per cent, or 5.93 points, at 1,916.51.
Hong Kong shares opened slightly lower on Tuesday morning as traders heaved a sigh of relief after two days of heavy buying, leading the market to rise nearly five percent. The Hang Seng index fell 0.08 per cent or 17.52 points to end at 21,106.41. The Shanghai Composite Index moved barely 0.88 points to 3,149.94, while the Shenzhen Composite Index on the Second China Exchange was also flat, rising 0.81 points to 1,976.70.
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