Sensex Sheds Over 150 Points, Nifty Slips Below 24,400 As Headline Indices End Two Session Gaining Streak

Stock Market News: Headline indices snapped a two session gaining streak on May 6. The BSE Sensex ended lower by 155.77 points or 0.19 per cent at 80,641.07. The Nifty 50 index closed lower by 81.55 points or-0.33 per cent at 24,379.6.

Adani Enterprises, Jio Financial Services And Eternal Lead Losers

Adani Enterprises, Jio Financial Services and Eternal Ltd emerged as top-drags among Nifty 50 constituents as they closed lower by as much as 4.3 per cent. On the other hand shares of Hero Motocorp, Bharti Airtel and Hindustan Unilever Ltd bucked the trend to close higher by up to 2.48 per cent. Notably 34 constituents of the index closed in the red and 16 closed in the green.

Nifty Auto Bucks Trend

All sectoral indices except Nifty Auto closed in the red amid broad based selling. The Nifty Auto index ended in green up by 0.17 per cent. The Nifty Realty index and the Nifty Oil & Gas index declined the most on May 6 as they closed lower by as much as 3.58 per cent. Broader market indices such as the Nifty MidCap 100 and the Nifty SmallCap 100 closed lower by as much as 2.5 per cent.

Global Markets

Wall Street indices closed in the red with the S&P 500, Dow Jones and Nasdaq Composite closing lower by as much as 0.74 per cent. At the time of writing European indices such as the FTSE 100, CAC 40 and the DAX Performance index traded lower by as much as 0.78 per cent. The Hang Seng index and the Shanghai Composite traded in the green by up to 1.12 per cent.

Ather Energy IPO Debut

Ather Energy shares made their debut on the NSE at Rs 328 apiece with a listing gain of 2.18 per cent. On the BSE the stock debuted at Rs 326.05 apiece with a listing gain of 1.57 per cent.

Cues To Watch

The US Federal Reserve is expected to announce its decision regarding lending rates on May 7. D-Street is likely to factor in the announcement in the upcoming days.