Sensex Closes Over 180 Points Lower; Nifty Slips Below 24,800; Bajaj Auto, Hindalco, and HCL Technology Lead Losers

Sensex Nifty Today: On May 30, the 30-share Sensex closed at 81,451.01 down by 182.01 points or 0.22 per cent lower. The 50-share Nifty ended lower by 82.9 points or 0.33 per cent at 24,750.7. The Sensex has slipped 0.88 per cent during the week from 81451.01 levels on Monday and the Nifty 50 index has slipped 1 per cent from 25,001.15 levels during the week.

Bajaj Auto, Hindalco, and HCL Technologies Lead Losers

Bajaj Auto, Hindalco and HCL Technologies lead the losers among Nifty 50 stocks as they closed lower by as much as 3.1 per cent. Shares of Zomato’s parent company Eternal, public sector lender State Bank of India, private sector lender HDFC Bank and four other companies ended in the green closing higher by as much as 4.98 per cent on the NSE.

Nifty SmallCap Ends Winning Streak

The Nifty SmallCap 100 index ended its five five-session winning streak as it closed 0.03 per cent lower at 17,883.3. The Nifty MidCap 100 reversed gains from yesterday’s trade to close lower by 0.06 per cent at 57,420. The India VIX closed lower by 2.08 per cent indicating a drop in volatility. The Nifty Bank index bucked the trend amid selloffs to close in the green up by 0.37 per cent. On the other hand, sectoral indices such as the Nifty Auto, Nifty IT and the Nifty Metal declined the most closing lower by as much as 1.69 per cent.

Global Markets On May 30

Wall Street market indices finished the session mixed on May 30. The S&P 500 and the Nasdaq Composite ended the session lower by 0.4 per cent. On the other hand, the Dow Jones Futures closed lower by 0.04 per cent. At the time of writing European markets traded in the green with indices such as CAC 40, FTSE 100 and the DAX Performance Index traded higher by up to 1 per cent. Asian indices traded in the red with the Nikkei 225, Hang Seng, KOSPI and the Shanghai Composite trading lower by as low as 1.23 per cent.

Primary Market Action

Three public issues closed for bidding on May 30, these included Scoda Tubes IPO, Neptune Petrochemicals IPO, and N R Vandana Tex Industries IPO. On the other hand, the public issue of 3B Films Ltd opened for bidding.

Market Cues

The National Statistics Office (NSO) which is a part of the Ministry of Statistics and Programme Implementation (MoSPI) has released the Provisional Estimates of India’s GDP for FY 2024-25 Real GDP is likely to be 6.5 per cent in FY 2024-25, with nominal GDP slated to be around 9.8 per cent. D-Street is likely to factor in the GDP data in the upcoming week.