Sensex, Nifty 50 end lower— 10 key highlights from Indian stock market today
Indian stock market ended slightly lower on Friday, May 30, tracking mixed global cues. The Sensex closed 182 points, or 0.22 per cent, lower at 81,451.01, while the Nifty 50 settled 24,750.70, 83 points, or 0.33 per cent, down on the first day of the June futures and options (F&O) series. Thus, the key indices extended losses to the second consecutive week.
The mid and small-cap segments ended mixed. The BSE Midcap index fell 0.39 per cent, while the Smallcap index rose 0.17 per cent.
The Nifty extended the gains to the third consecutive month, rising nearly 2 per cent in May. However, the index has been consolidating in the recent past due to stretched valuations and the lack of fresh positive triggers.
“Participants are now awaiting a fresh trigger to break the consolidation and resume the broader trend. In the meantime, one should align their trades with sectoral trends and themes that are attracting noticeable interest,” said Ajit Mishra, SVP of research at Religare Broking.
“We recommend maintaining a ‘buy on dips’ approach, unless the Nifty decisively breaks below its first line of defence—the 20-day exponential moving average (DEMA), currently around the 24,600 level. A breach of this level could increase pressure and extend the current consolidation phase,” said Mishra.
Indian stock market: 10 key highlights from the day
1. Why did the Indian stock market fall today?
Investors remain cautious amid a lack of fresh triggers and due to the uncertainty surrounding Trump’s tariffs. A federal appeals court on Thursday temporarily allowed US President Donald Trump to proceed with his tariffs, a day after a US trade court had blocked them.
Meanwhile, reports suggest India and the US are aiming to close a trade deal by the last week of June. However, the shape of the deal is still unclear.
“A rangebound movement continued in the market, with the temporary reinstatement of US tariffs by the appeal court influencing investors to stay sidelined,” said Vinod Nair, Head of Research, Geojit Investments.
“The global market may contend with macroeconomic concerns as the global trade landscape has yet to see stability, which may navigate a short-term consolidation,” Nair said.
India’s Q4 GDP prints are due today, which could influence market sentiment. Next week, the RBI MPC will announce its policy decision. Moreover, the progress of monsoon will also be on the radar of the market.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
