Indian benchmark indices snapped three-day losing streak and ended higher with Nifty above 24,600 amid positive global markets and buying across the sectors barring realty.
At close, the Sensex was up 260.74 points or 0.32 percent at 80,998.25, and the Nifty was up 77.70 points or 0.32 percent at 24,620.20.
Eternal, Jio Financial, Bharti Airtel, IndusInd Bank, Reliance Industries were among major gainers on the Nifty, while losers were Trent, Bajaj Finserv, Shriram Finance, TCS, Axis Bank.
BSE Midcap and Smallcap indices rose 0.5 percent each.
On the sectoral front, BSE Realty index was down 0.7 percent, while telecom, metal, oil & gas indices added 0.5-1 percent.
US stock indexes closed higher on Tuesday, helped by gains in Nvidia and other chipmakers, as investors awaited possible negotiations between the United States and its trading partners for more clarity on Washington’s tariff plans.
Asian equities ended higher lifted by technology shares, while European shares were trading higher with CAC and DAX up nearly 1 percent each.
In stock specific action, Aditya Birla Fashion & Retail shares shed 10% as 6.2% equity change hands in block deal. Alkem Laboratories shares fell more than 2 percent as 1.4% stake offloaded in block deal. SPARC shares plunged 20% after Psoriasis drug fails to deliver in trials.
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 85,706.67 | -13.71 | -0.02% |
| Nifty 50 | 26,202.95 | -12.60 | -0.05% |
| Nifty Bank | 59,752.70 | 15.40 | +0.03% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| M&M | 3,757.30 | 76.10 | +2.07% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| SBI Life Insura | 1,966.00 | -38.50 | -1.92% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Auto | 27774.60 | 170.90 | +0.62% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Energy | 35548.30 | -207.90 | -0.58% |
More than 100 stocks on the BSE made their 52-week highs, including Garden Reach, GlaxoSmithKline Pharma, APL Apollo, Lloyds Metals, SBI Cards, Anupam Rasayan, Radico Khaitan, Hitachi Energy, Solar Industries, Fortis Healthcare, AstraZeneca Pharma, Bharti Hexacom, CCL Products, City Union Bank, among others. Click to View More
Among IPO listing, Scoda Tubes shares ended 5 percent higher, after making a flat stock market debut.
Outlook for June 5
Rupak De, Senior Technical Analyst at LKP Securities
The Nifty continues to exhibit a lackluster sentiment as traders await the RBI rate decision. The market is likely to remain sideways for another session until the announcement and follow-up commentary on Friday.
A bearish crossover in the momentum oscillator RSI signals weakening price momentum, suggesting limited movement in the near term.
Immediate support is placed at 24,500; a break below this level could lead to further weakness. On the higher side, resistance is seen at 24,750/24,900.
Aditya Gaggar Director of Progressive Shares
Post the knee-jerk reaction in the opening trade, the index gradually soared higher to conclude the trade at 24,620.20 with gains of 77.70 points. Except for the Realty sector, all of the others settled trade in green, with Metal and Energy being the top performers. Meanwhile, the Railway stocks regained their lost momentum in today's trade. Mid and Smallcaps extended their outperformance by advancing over 0.70% each.
On the daily chart, the Index has formed a Bullish Harami candlestick pattern that signals potential reversal from a downtrend to an uptrend.
The level of 24,500 will be considered as a strong support, whereas the higher side seems to be capped at 24,725.
Disclaimer: The views and investment tips expressed by 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.
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