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29/05/24 | 6:03 pm | BSE | NSE | SENSEX. NIFTY

Indian equity market slumps for fourth consecutive session

The Indian equity market experienced its fourth consecutive day of losses on May 29. The Nifty ended at 22,704.70, down 183.50 points or 0.80 percent, while the Sensex dropped 667.55 points or 0.89 percent, closing at 74,502.90.

The market opened negatively, influenced by mixed global cues, and continued to decline throughout the day. Both the Sensex and Nifty fell below critical levels of 74,500 and 22,700, respectively.

The biggest losers on the Nifty included HDFC Life, SBI Life Insurance, ICICI Bank, Tata Consumer Products, and Tech Mahindra. On the other hand, Hindalco, Power Grid Corp, Divis Labs, Nestle, and Sun Pharma were among the top gainers.

Sector-wise, there was a mixed trend. Capital goods, telecom, healthcare, metal, and power sectors ended in the green, whereas auto, banking, FMCG, IT, oil & gas, and realty sectors fell by 0.3-1 percent.

The BSE midcap index declined by 0.4 percent, while the smallcap index saw a slight increase of 0.2 percent.

Individual stocks like GNFC, Ipca Labs, and Piramal Enterprises experienced a significant volume spike of more than 100 percent.

Additionally, a long build-up was observed in stocks such as Samvardhana Motherson International, Hindalco Industries, and Jubilant FoodWorks, while a short build-up was noted in ICICI Prudential Life Insurance, IRCTC, and Interglobe Aviation.

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Last Updated: 18th Jun 2024