Informist, Tuesday, May 31, 2022
By Abhishek Saini
MUMBAI – Profit taking following three sessions of gains, and caution ahead of gross domestic product data later in the day halted the upward movement in benchmark indices today.
The Nifty 50 ended 0.5% lower at 16584.55 points, but was off its intraday low of 16521.90 points. In early trade, it had risen till 16690.75 points.
Similarly, the Sensex ended 0.6% lower at 55566.41 points, though off the day’s low of 55369.14 points.
The growth in the GDP for Jan-Mar is likely to be moderated, with analysts estimating a 4.1% growth, due to the disruptions caused by the third wave of COVID-19 pandemic.
Further, the sharp spike in crude oil prices post the European Union’s decision to ban 90% imports of Russian crude oil is likely to have triggered risk-averse bets.
Today, although, sustained buying in automobiles and consumer goods companies had helped the Nifty 50 shrug-off opening losses and move slightly into the green, the gains could not be sustained.
Shares of banks and financial companies weighed on the headline indices today. Kotak Mahindra Bank and Housing Development Finance Corp fell nearly 3% each and were the major laggards on the Nifty 50.
Losses in Axis Bank, State Bank of India and HDFC Bank pulled the Nifty Bank index 1% lower.
Information technology companies too succumbed to selling with Infosys, Tata Consultancy Services, and mid-cap constituents pulling the sector into the red. The Nifty IT index ended 0.3% lower.
Bucking the trend were automobile and metal sectors. Mahindra & Mahindra continued its post-earnings momentum and rose 4%, lifting the Nifty Auto index by 0.8%. In the metal pack, large-caps like JSW Steel, Tata Steel and Hindalco Industries rose.
In the broader market, most small-cap and mid-cap indices on the NSE were able to resist the selling pressure and end 0.3-1.3% higher. The mid-cap 100 index, although, ended slightly lower.
In stock-specific movement, shares of Life Insurance Corp of India ended 3% lower on decline it the insurer’s net profit in Jan-Mar. On the other hand, KNR Constructions jumped 7% following robust results for the March quarter.
* Among Nifty 50 stocks, 28 rose and 22 fell
* Among Sensex stocks, 14 rose and 16 fell
* On the NSE, 1,096 stocks rose, 957 fell and 76 were unchanged
* On the BSE, 1,764 stocks rose, 1,589 fell and 124 were unchanged
* Nifty Bank: Down 0.95%; Nifty IT: Down 0.26%; Nifty Auto: Up 0.83%
BSE National Stock Exchange
Sensex: 55566.41 points, down 359.33 pts (0.6%) Nifty 50: 16584.50 points, down 76.85 pts (0.5%)
S&P BSE Sensitive Index Nifty 50
Lifetime High: 62245.43 (Oct 19) : Lifetime High: 18604.45 (Oct 19)
Record Close High: 61765.59 (Oct 18) : Record Close High: 18477.05 (Oct 18)
2022 1st day close: 59183.22 (Jan 3) : 2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 61308.91 (Jan 17) : 2022 Closing High: 18308.10 (Jan 17)
2022 Closing Low: 52792.23 (May 19) : 2022 Closing Low: 15782.15 (May 13)
2022 High (intraday): 61385.48 (Jan 17) : 2022 High (intraday): 18321.55 (Jan 17)
2022 Low (intraday): 52260.82 (Mar 8) : 2022 Low (intraday): 15671.45 (Mar 8)
2021 Closing High: 61305.95 (Oct 14) : 2021 Closing High: 18338.55 (Oct 14)
2021 Closing Low: 46285.77 (Jan 29) : 2021 Closing Low: 13634.60 (Jan 29)
2021 High (intraday): 61353.25 (Oct 14) : 2021 High (intraday): 18350.75 (Oct 14)
2021 Low (intraday): 46160.46 (Jan 29) : 2021 Low (intraday): 13596.75 (Jan 29)
2020 Closing High: 47751.33 (Dec 31) : 2020 Closing High: 13981.95 (Dec 30)
2020 Closing Low: 25981.24 (Mar 23) : 2020 Closing Low: 7610.25 (Mar 23)
2020 High (intraday): 47896.97 (Dec 31) : 2020 High (intraday): 14024.85 (Dec 31)
2020 Low (intraday): 25638.90 (Mar 24) : 2020 Low (intraday): 7511.10 (Mar 24)
2019 High (intraday): 41809.96 (Dec 20) : 2019 High (intraday): 12293.90 (Dec 20)
2019 Low (intraday): 35287.16 (Feb 19) : 2019 Low (intraday): 10583.65 (Jan 29)
2018 High (intraday): 38938.91(Aug 28)) : 2018 High(intraday): 11760.20 (Aug 28)
2018 Low (intraday): 32483.8 (Mar 23) : 2018 Low (intraday): 9951.9 (Mar 23)
2017 High (intraday): 34005.37 (Dec 26) : 2017 High(intraday): 10515.10 (Dec 26
End
Edited by Maheswaran Parameswaran
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