Market Pullback,Nifty Drops 22,932 Pts, Sensex Ends 20 Pts lower

Ira Singh
Khabar Khabaron Ki,27 May’24

The Indian equity market indices ended the session on a flat note amid volatility on Monday ,though the major stock market indexes opened on positive note and extended the gains as the day progress with Sensex and Nifty crossing 76,000 and 23,100 for the first time. However, the last hour selling erased all the day’s gains .At close, the Sensex was down 19.89 points or 0.03 percent at 75,390.50, and the Nifty was down 24.65 points or 0.11 percent at 22,932.45.

Highlights of trade:
●Sensex and Nifty scale new peak,
●Sensex drives past 76,000 for the first time,
●Torrent Pharma jumps 5% as co’s Q4 PAT soars 54%,
●Adani Ports rise 3% as co to become part of BSE 30-share index,
●LIC among over 200 firms to post Q4 results today,
●Divi’s Laboratories rise 5% as Q4 profit soars 68%.

Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree and Adani Ports were the top gainers on the Nifty, while losers included Adani Enterprises, Wipro, Grasim Industries, ONGC and SBI Life Insurance.

On the sectoral front, bank, realty and Information Technology indices gained 0.5 percent each, while oil & gas, power and media were down 0.5-1 percent.The BSE midcap index was up 0.6 percent while the smallcap index ended flat.

Rupee Close:
On 27 May’24,the Indian rupee falls 4 paise to close at 83.14 against US dollar,on Monday mirroring the benchmark indices that erased their gains and ended the day off their record-high levels.

Forex traders said the rupee settled in a narrow range as the weakness of the American currency in the overseas market supported the rupee, while elevated crude oil prices in the international market restricted the upmove.

Trading Guide:
Market experts have recommended eight buy or sell stocks for today — Tata Steel, TARC, HDFC Bank, TCS, Federal Bank, M&M Finance, BASF, and Kabra Extrusion.