Moneycontrol PRO
HomeNewsBusinessMarketsTaking Stock: Market fails to hold record high, ends flat amid volatility

Taking Stock: Market fails to hold record high, ends flat amid volatility

HDFC Bank, L&T, Bharti Airtel, BPCL and Axis Bank were among the top gainers on the Nifty, while losers were Adani Ports, Tata Consumer, Tech Mahindra, Titan and M&M

May 24, 2024 / 16:13 IST
Market Today

In a rangebound trading session on May 24, the India benchmark indices hit fresh record highs with Nifty surpassing 23,000 mark for the first time. However, it failed to hold on to the higher levels and ended with little change.

At close, the Sensex was down 7.65 points or 0.01 percent at 75,410.39, and the Nifty was down 10.55 points or 0.05 percent at 22,957.10.

For the week, BSE Sensex and Nifty50 indices rose two percent each.

After a negative start, the benchmark indices hit fresh record highs in the early part of the session, but witnessed a rangebound movement throughout the session.

HDFC Bank, L&T, Bharti Airtel, BPCL and Axis Bank were among the top gainers on the Nifty, while losers were Adani Ports, Tata Consumer, Tech Mahindra, Titan and M&M.

Among sectors, oil & gas, capital goods, telecom and media were up 0.5-2 percent, while FMCG, Healthcare, IT, Metal and Realty were down 0.5 percent each.

BSE Midcap index was up 0.2 percent, while Smallcap index shed 0.2 percent.

More than 200 stocks touched their 52-week high on the BSE, including Samvardhana Motherson International, Adani Enterprises, Aditya Birla Fashion, Ashok Leyland, Aurobindo Pharma, Bharat Forge, Bharti Airtel, Biocon, Divis Labs, Eicher Motors, Exide Industries, Hero MotoCorp, Oberoi Realty, Power Finance, SBI, Tata Steel, among other stocks. Click to view full list

IndexPricesChangeChange%
Sensex86,103.83397.16 +0.46%
Nifty 5026,326.90123.95 +0.47%
Nifty Bank59,752.700.00 +0.00%
Nifty 50 26,326.90 123.95 (0.47%)
Mon, Dec 01, 2025
Biggest GainerPricesChangeChange%
No Biggest Gainer details available.
Biggest LoserPricesChangeChange%
SBI Life Insura1,970.004.00 +0.20%
Best SectorPricesChangeChange%
Nifty PSU Bank8514.400.00 +0.00%
Worst SectorPricesChangeChange%
Nifty Energy35548.300.00 +0.00%

Outlook for May 27

Ajit Mishra – SVP, Research, Religare Broking

Markets traded quietly after Thursday’s surge and ended nearly unchanged. Following a flat start, the Nifty oscillated within a narrow range throughout the session but managed to briefly reach the new milestone of 23,000. Meanwhile, a mixed trend across sectors kept traders engaged, with auto, banking, and financial sectors performing well, while FMCG and realty experienced profit-taking. The broader indices also had a muted session, closing almost flat.

It's common to see a pause after a strong upward move, and traders should view any dip around 22,750-22,850 in Nifty as a buying opportunity. While key sectors are contributing to the upward movement, we are now seeing more selective participation. Therefore, it is advisable to focus on stock selection, with a preference for large-cap and large mid-cap stocks.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Rakesh Patil
first published: May 24, 2024 03:45 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347