CLOSING BELL: Sensex drops over 800 pts; Nifty Slips to 24,683 ; All sectoral indices end in red with auto as the top laggard

Stock Market Today | Markets Commentary by Bajaj Broking

Equity benchmarks extended their losing streak for the third consecutive session on May 20, weighed down by weak global cues and sustained FII offloading. The Nifty opened on a firm note, briefly reclaiming the psychological 25,000 mark, but failed to hold on to early gains amid lackluster follow-through buying. The index faced selling pressure near resistance levels and breached the key support zone around 24,850 during midsession trade. Intensified profit booking in the latter half triggered a sharp decline, dragging the index to close near the day’s low at 24,683.90, down 261.55 points or 1.05%. Broader market sentiment was weak, with the Nifty Midcap and Smallcap indices ending lower by 1.3% and 0.8%, respectively, reflecting risk-off undertones. Sectoral indices were deep in the red across the board, with Nifty Auto, Bank, Pharma, and FMCG indices registering losses in the range of 1–2%, indicating broad-based selling pressure.

NIFTY formed a sizable bear candle with a lower high and lower low signaling corrective decline for the third session in a row. In the near term, we expect the index to enter a consolidation phase within the 24,400–25,200 range, thereby working off the overbought conditions indicated by the daily stochastic oscillator following the recent sharp uptrend. Crucial support is seen at the 24,350–24,400 zone, which coincides with the prior week’s low, the 20-day exponential moving average (EMA), and the 61.8% Fibonacci retracement of the preceding rally from 23,935 to 25,116.

Bank Nifty formed a bear candle with a lower high and lower low signaling profit booking at higher levels at the upper band of the falling channel. Bank Nifty continues to consolidate in the broad range of 56,000-53,500 in the last 4 weeks. A key technical observation on the daily chart is that the index has been trading within a downward-sloping channel for the past 19 sessions. In the last 19 sessions it has retrace just 38.2% of the prior 9-session rally (49,157–56,098), indicating a shallow pullback that suggests underlying strength and potential higher bottom formation. We expect the index to extend the last 4 weeks’ consolidation in the range of 53,500-56,000. Within the consolidation we believe dips should be used as buying opportunity. Key support at 53,000-53,500 being the confluence of key retracement and 50 days EMA

Stock Market Today | Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates:

Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates:

Nifty opened on a positive note, witnessed selling pressure, and finally settled the day on a negative note at 24,684 level.

Technically, Nifty formed a big red candle on the daily scale and breached the major support zone of 24,800–24,850, signalling weakness. The next major support for the index is placed near 24,390, where the 21-Day Exponential Moving Average (21-DEMA) is positioned. On the upside, immediate resistance is seen around 24,850. As long as the index trades below this level, traders are advised to adopt a stock-specific approach and keep on booking profits on bounce.

The Bank Nifty index opened on a positive note but failed to surpass the high of the previous session’s shooting star candle, leading to profit booking. Technically, the index confirmed the shooting star candlestick pattern by sustaining below 55,290 and registered a low of 54,829 level, as expected. As long as Bank Nifty remains below 55,290, further weakness is likely. On the downside, strong support is seen near 54,460, where the 21-DEMA is placed. Traders are advised to follow a sell-on-rise strategy in Bank Nifty as long as it stays below 55,290

Stock Market Today | Devarsh Vakil - Head of Prime Research, HDFC Securities:

Devarsh Vakil - Head of Prime Research, HDFC Securities:

Indian Markets Tumble on Rising Bond Yields and Fears of Covid Resurgence.

Indian equity benchmarks declined sharply today amid reports of increasing COVID-19 cases in Southeast Asian countries like Singapore and Hong Kong. The Nifty fell for the third consecutive session, shedding 261 points (1.05%) to close at 24,683, while the BSE Sensex dropped 873 points (1.06%) to 81,186.

Market sentiment remained negative, with 42 of 50 Nifty constituents ending in the red. The NSE advance-decline ratio stood at 1:2, reflecting widespread investor caution across sectors, particularly in auto, defence, and financial stocks.

The Indian Rupee snapped its two-day streak, falling 24 paise against the dollar to settle at 85.63. This depreciation stems from equity market declines and foreign fund outflows.

Investors also monitored ongoing India-U.S. trade discussions, adding further market pressure.

Japanese bond sell-off has elevated borrowing costs, contributing to global market uncertainty and dampening risk appetite.

Nifty Midcap100 and Smallcap100 indices closed weak, forming bearish "Engulfing" candlestick patterns. Midcap 100 fell 1.62% while Smallcap 100 dropped 0.94%. Market breadth turned negative after six consecutive positive days, with BSE advance-decline ratio at 0.58.

All sectoral indices closed in red, with Auto, Healthcare, Media, and Pharma experiencing the heaviest losses. Auto stocks were particularly weak, with three of the top four Nifty losers from this sector, amid valuation concerns and an uncertain demand outlook.

Technically, Nifty closed below its 5-day EMA for the first time since May 8, 2025, suggesting a shift to profit-booking. Support levels lie at 24,494 and 24,378, while resistance is expected in the 24,800-24,900 range.

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Stock Market at closing | Rupak De, Senior Technical Analyst at LKP Securities

Rupak De, Senior Technical Analyst at LKP Securities:

The Nifty slipped after two days of consolidation, dragged down by broad-based selling and weakening market breadth. Despite this decline, the short-term trend remains strong, although there is a possibility of a deeper pullback toward the 21-day EMA on the daily timeframe. The negative divergence on the daily RSI has added to the bearish sentiment. If Nifty sustains below 24,700, the correction could extend further, potentially towards 24,300. However, if the index moves back above 24,700, it may signal a return to a consolidation phase.

Markets at closing | Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity – Ashika Stock Broking

Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity – Ashika Stock Broking:

The Nifty opened flat at 24,996 and briefly touched a high of 25,010 before witnessing a sharp sell-off, sliding to a low of 24,676—currently trading near the day’s lowest level. The weakness was widespread, with all sectoral indices closing in the red. The worst-hit sectors included Automobile, Consumption, Healthcare, Media, and Financial Services, reflecting heavy profit booking. The broader market also faced significant pressure, with the Nifty Midcap 100 plunging 1.64% and the Nifty Small cap 250 declining 0.85%.

On the derivatives front, the market breadth was extremely weak, with only 18 stocks advancing against 202 declining. Open interest spurt was seen in RBL Bank, Zydus Life, DLF, Astral, and Hindalco. The highest open interest buildup on the call side is at 25,000, while put writing is concentrated at 24,500 and 24,000, indicating key support zones ahead. The Put-Call Ratio (PCR) dropped to 0.48.

Stock Market | Closing Bell

#1 Nifty Bank falls 543 points to 54,877 with HDFC leading the declines

#2 Midcap index falls 923 points to 56,183

#3 Eternal is top nifty loser, down 4% post shareholder nod for FII holding cap

#4 Autos reverse Monday’s gains, 3 Of 4 top Nifty losers are auto stocks

#5 Defence stocks decline for second consecutive day, falling 2 to 8%

#6 NSE Advance-Decline ratio is 1:2

Stock Market Today

Nifty Bank Falls 543 Points To 54,877 & Midcap Index 923 Points To 56,183

Eternal Is Top Nifty Loser, Down 4% Post Shrhldr Nod For FII Hldg Cap

Autos Reverse Monday’s Gains, 3 Of 4 Top Nifty Losers Are Auto Stocks

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Stock Market Today | Sensex falls over 800 pts while Nifty lands at 24,683 with all sectoral indices ending in red

At closing, the Sensex was down 872.98 points or 1.06 percent at 81,186.44, and the Nifty was down 261.55 points or 1.05 percent at 24,683.90. About 1398 shares advanced, 2415 shares declined, and 127 shares unchanged.

Broader markets saw decline across midcap and smallcap of about 1 to 1.60%.

India VIX at 0.12%.

Auto sector leads the losers' pack.

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