Markets rebound in early trade after five days of decline
May 31, 2024 10:34 ISTFrom the Sensex basket, Larsen & Toubro, Mahindra & Mahindra, Bajaj Finance, UltraTech Cement, NTPC, IndusInd Bank, Tata Motors and Titan were the major gainers.
From the Sensex basket, Larsen & Toubro, Mahindra & Mahindra, Bajaj Finance, UltraTech Cement, NTPC, IndusInd Bank, Tata Motors and Titan were the major gainers.
The sharp declines in both indices signal investor concerns and potential volatility in the coming days. The downturn affected a broad range of sectors, contributing to the overall market slump.
The market opened in red on second consecutive day on Thursday morning. In the early trade, the 30-share BSE Sensex fell 183.39 points to 74,319.51. Meanwhile, the Nifty declined 58.90 points to 22,645.80.
The market opened in red on Wednesday morning. In the early trade, the 30-share BSE Sensex fell 416.1 points to 74,754.35. Meanwhile, the Nifty declined 125.9 points to 22,762.25.
The markets witnessed significant volatility, reflecting investor caution after a series of record-setting sessions. Analysts attribute the downturn to profit booking and global economic uncertainties impacting investor sentiment.
In the early trade, the 30-share BSE Sensex climbed 194.9 points to 75,585.40. Meanwhile, the Nifty was also up by 59.95 points to 22,992.40 points.
The broader NSE Nifty50 index also saw a sharp rise during early trading, reaching new highs. However, it failed to sustain these levels and closed below the critical 23,000 mark, indicating a pullback from investor enthusiasm.
In the early trade, the 30-share BSE Sensex climbed 269.28 points to an all-time peak of 75,679.67 in early trade. Meanwhile, the NSE Nifty went up by 86.1 points to hit a new lifetime high of 23,043.20.
The Sensex and Nifty achieved record highs during intraday trade on Friday before ending flat due to market volatility. The S&P BSE Sensex peaked at 75,636.5 but closed at 75,410, down 8 points. The NSE Nifty50 surpassed the 23,000-mark, closing 11 points lower at 22,957.
The benchmark indices, Sensex and Nifty, displayed encouraging gains in early trade on Friday. The positive momentum witnessed across various sectors further underscored the broad-based nature of the market rally.
This rally followed the Reserve Bank of India's (RBI) approval of a record Rs 2.11 lakh crore dividend to the government, bolstered by strong buying in blue-chip stocks such as Reliance Industries and HDFC Bank.
In the early trade, the 30-share BSE Sensex climbed 41.65 points to 74,262.71. Meanwhile, the Nifty was also up by 20.1 points to 22,617.90.
In the early trade, the 30-share BSE Sensex climbed 212.21 points to 74,165.52. Meanwhile, the Nifty was also up by 48.35 points to 22,577.40.
In the early trade, the 30-share BSE Sensex fell 218.11 points to 73,787.83 in early trade. The Nifty declined 97.45 points to 22,404.55.
Major sectors such as IT, finance, and consumer goods saw notable increases, driving the overall market uptrend. Positive global cues and strong domestic earnings reports contributed to the rally.
Bharti Airtel also made significant gains, climbing by 2.38% to Rs 1,342.95, amid expectations of tariff hikes post-general elections. Additionally, Tech Mahindra Ltd (TecM), Titan Company Ltd, and Infosys Ltd each recorded gains of over 2%.
The benchmark indices, Sensex and Nifty, displayed encouraging gains in early trade on Thursday. The positive momentum witnessed across various sectors further underscored the broad-based nature of the market rally.
Nifty, which tracks the performance of the top 50 companies listed on the National Stock Exchange (NSE), recorded a slight dip of 17.30 points. It settled at 22,200.55 by the end of the trading session, signalling a subdued market trend.
As the midweek trading session commences, the stock markets welcomed investors with a buoyant start, painting the trading boards green with promising uptrends. The benchmark indices, Sensex and Nifty, led the charge, displaying encouraging gains in early trade.
The stock market surged on Tuesday, with both the Sensex and Nifty marking their third consecutive day of gains. Led by strong performances in the auto, metal, and banking sectors, the Sensex climbed 328 points to reach 73,105, while the Nifty settled at 22,218, up by 114 points.
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