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May 05, 2022 / 04:25 PM IST

Closing Bell: Market erases gains to end flat; Power, IT stocks shine, realty drags

Among sectors, power, capital goods and IT indices rose 1-2 percent each. However, realty, FMCG and pharma indices fell 0.5-1.5 percent.

  • IndexPricesChangeChange%
    Sensex53,077.83-83.45 -0.16%
    Nifty 5015,812.05-20.00 -0.13%
    Nifty Bank33,318.90-492.35 -1.46%
    Nifty 50 15,812.05 -20.00 (-0.13%)
    Wed, Jun 29, 2022
    Biggest GainerPricesChangeChange%
    Reliance2,565.7573.10 +2.93%
    Biggest LoserPricesChangeChange%
    HDFC Life544.75-13.25 -2.37%
    Best SectorPricesChangeChange%
    Nifty Energy24859.20381.25 +1.56%
    Worst SectorPricesChangeChange%
    Nifty PSU Bank2457.95-25.55 -1.03%


  • May 05, 2022 / 02:54 PM IST

    Follow our LIVE blog for the latest updates on LIC IPO Issue

  • May 05, 2022 / 04:16 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    The fear of an aggressive rate hike by the Fed was the prime reason for global volatility during the past few days. Fed’s decision to remain less hawkish with a 50bps rate hike downplayed the investor’s worries, helping the global markets to rally. 

    However, the domestic market trimmed its gains towards the end of the day following a sell-off in US futures.

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  • May 05, 2022 / 04:13 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    Markets settled almost unchanged in a volatile trading session, taking a breather after the sharp decline. The tone was upbeat in the beginning, in reaction to the US Fed meeting outcome, which came in line with the market expectations. However, the gains fizzled out as the session progressed and the Nifty finally settled around the day’s low to close at 16,682 levels. 

    Amongst the sectors, IT, Power and Capital Goods ended with gains whereas Realty, Healthcare and FMCG ended with losses. The broader markets too ended on a flat note.

    With all the major events behind us, the focus would return to earnings and upcoming macroeconomic data. We reiterate our bearish bias in Nifty and suggest continuing with the “sell on rise” approach. Stocks, on the other hand, are offering opportunities on both sides so traders should align their positions accordingly. 

  • May 05, 2022 / 04:11 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:

    Markets erased most of its early gains due to profit taking in realty stocks, pharma and PSU banking stocks. The early momentum failed to sustain as investors turned risk averse amid worries of high inflation and prospects of more rate cuts that will slow growth going ahead. Another factor is investors are pulling out funds from secondary markets and infusing in the ongoing LIC IPO. 

    Technically, after a sharp fall, the Nifty has formed inside a bearish candle and is also holding lower top formation on intraday charts, indicating further correction from the current levels. 

    As long as the index is trading below 16850, the correction wave is likely to continue and below the same the Nifty could touch the level of 16600-16500. On the flip side, 16800 and 16850 would act as immediate hurdles. Above 16850, the market could hit the level of 16950.

  • May 05, 2022 / 03:51 PM IST

    Rupak De, Senior Technical Analyst at LKP Securities:

    The benchmark Nifty failed to give any decisive move as it remained within the previous day's range. On the daily chart, Nifty has formed an inside-day bar, suggesting indecisiveness. 

    The daily RSI is in bearish crossover. The trend remains weak; at the lower end, support is seen at 16600, whereas resistance is visible at 16950-17000.

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  • May 05, 2022 / 03:42 PM IST

    Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities:

    Nifty short term sentiment remains negative. Resistance for Nifty50 is seen at 16950 below which bias remains negative. 

    Medium term trend support for the index is seen at 15500. Select energy stocks trade with positive bias while Cement stocks expected to remain under pressure.

  • May 05, 2022 / 03:41 PM IST

    Rupee Close:

    Indian rupee ended 16 paise higher at 76.26 per dollar against Wednesday’s close of 76.42.

  • May 05, 2022 / 03:36 PM IST

    Market Close: Indian benchmark indices erased most of the intraday gains and ended on flat not in the highly volatile session on May 5

    At close, the Sensex was up 33.20 points or 0.06% at 55,702.23, and the Nifty was up 5.10 points or 0.03% at 16,682.70. About 1491 shares have advanced, 1771 shares declined, and 116 shares are unchanged.

    IndusInd Bank, Tata Consumer Products, Britannia Industries, UltraTech Cement and Nestle India were among the top Nifty losers, while gainers were Tech Mahindra, Hero MotoCorp, Infosys, HCL Technology and Wipro.

    Among sectors, power, capital goods and IT indices rose 1-2 percent each. However, realty, FMCG and pharma indices fell 0.5-1.5 percent.

    BSE midcap and smallcap indices ended marginally lower.

  • May 05, 2022 / 03:24 PM IST

    Time Technoplast arm bags order

    NED Energy Limited, a subsidiary of Time Technoplast Limited has signed a Memorandum of Understanding (MOU) with TESLA POWER USA INC for orders worth Rs 100 crore (appx). This is for supply of VRLA Batteries of different sizes for applications covering Power, Solar, UPS etc., company said in its release.

    Time Technoplast touched a 52-week high of Rs 108 and was quoting at Rs 102.95, up Rs 10.05, or 10.82 percent on the BSE.

  • May 05, 2022 / 03:20 PM IST

    Intellect Design Arena Q4 Earnings:

    The company has reported 25 percent jump in its Q4 net profit at Rs 100.8 crore versus Rs 80.6 crore and revenue was up 0.7% at Rs 522.6 crore against Rs 519 crore, QoQ.

      Intellect Design Arena Q4 Earnings:  

 The company has reported 25 percent jump in its Q4 net profit at Rs 100.8 crore versus Rs 80.6 crore and revenue was up 0.7% at Rs 522.6 crore against Rs 519 crore, QoQ.
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  • May 05, 2022 / 03:17 PM IST

    Nifty Pharma index shed 0.5 percent dragged by the Sun Pharma, Biocon, Cipla

     Nifty Pharma index shed 0.5 percent dragged by the Sun Pharma, Biocon, Cipla
  • May 05, 2022 / 03:14 PM IST

    BofAML on RBI Rate hike

    The timing & magnitude of rate hike shocked us, said research house BofAML.

    See RBI hiking repo rate by 25 bps each in next 3 policy meetings and larger than 25 bps hike in June meeting itself cannot be ruled out, reported CNBC-TV18.

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