Sensex, Nifty End Over 1 Per Cent Lower As Headline Indices Extend Losing Streak For Third Straight Session

Stock Market Today: Sensex and Nifty extended losses for the third straight session. The 30-share Sensex fell to 81,186.44 declining 872.98 points or 1.06 per cent. The Nifty 50 index closed at 24,683.9 level down by 261.55 points or 1.05 per cent.

Eternal, Hero Motocorp and Bajaj-Auto Lead Losers

Amid broad-based selling, 42 constituents of the benchmark Nifty 50 closed lower, and on the other hand, eight closed in the green. Shares of Eternal, Hero Motocorp and Bajaj-Auto emerged as top-drags as they closed lower by as much as 4.21 per cent. On the other hand, the Coal India, Tata Steel and Hindalco Industries ended in the green by up to 1.55 per cent.

Broader Market Indices Snap Gaining Spree

Key broader market indices, Nifty MidCap 100 and the Nifty SmallCap 100 snapped a six session gaining streak to close lower by up to 1.62 per cent. On May 20, all major sectoral indices ended lower with the Nifty Auto index closing lower by up to 2.17 per cent.

Global Markets

US market indices such as the Dow Jones Futures and S&P 500 closed higher by up to 0.09 per cent. Key European indices such as the FTSE 100, CAC40 and DAX Performance index traded in green by up to 0.56 per cent at the time of writing. Key Asian indices like the Nikkei 225, Hang Seng and Shanghai Composite traded in the green, up by as much as 1.47 per cent

Primary Market Action

The mainboard issue of Borana Weaves Ltd opened for subscription on May 20. The company plans to raise Rs 144.89 crore through a completely fresh issue of 67 lakh shares. The subscription window for the public issue is scheduled to close on May 22.

Market Cues

Investors are likely to track a potential India-US trade deal which can positively impact D-street in the upcoming days. On the other hand, US Treasury Secretary Scott Bessent implied tariff hikes on key trading partners were on the horizon. Other key headwinds that could potentially impact D-street include the gradually rising number of Covid-19 cases around the globe.