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.
2. Top gainers in the Nifty 50 index today
Only seven stocks managed to end higher in the Nifty 50 index.
Shares of Eternal (up 4.98 per cent), SBI (up 2.09 per cent) and HDFC Bank (up 0.73 per cent) ended as the top gainers.
3. Top losers in the Nifty pack
Bajaj Auto (down 3.10 per cent), Hindalco Industries (down 2.51 per cent) and HCL Technologies (down 2 per cent) closed as the top losers in the index.
4. Sectoral indices today
Most sectoral indices ended with losses. However, the Nifty PSU Bank index soared 2.88 per cent, ending as the top gainer among them.
Nifty Bank rose 0.37 per cent, while the Financial Services inched up 0.08 per cent.
Nifty Metal dropped 1.69 per cent, while the IT index declined 1.15 per cent. Nifty Auto fell by a per cent.
5. Most active stocks in terms of volume
Vodafone Idea (70.12 crore shares), Suzlon (54.76 crore shares), and Reliance Power (53.4 crore shares) were the most active stocks in terms of volume on the NSE.
6. 11 stocks jump over 10% on NSE
Reliance Power, Rallis India, Lords Chloro Alkali, Manugraph India and Aro Granite Industries, were among the 17 stocks that jumped over 10 per cent on the NSE.
7. Six stocks plunge more than 10%
Innovana Thinklabs, Kiri Industries, SKM Egg Products Export (India), Prakash Pipes, Signpost India and Welspun Living were the six stocks that plunged more than 10 per cent on the NSE.
8. 100 stocks hit upper circuits; over 70 hit lower circuits
As many as 100 stocks, including Reliance Communications, Godfrey Phillips India, Senco Gold, International Gemmological Institute (India) and Wockhardt, hit their upper circuits in intraday trade on the NSE.
On the other hand, 71 stocks, including Orchid Pharma, ITI, Indo Tech Transformers, Kitex Garments and Coffee Day Enterprises, hit lower circuits during the session.
9. Advance-decline ratio
As many as 1,299 stocks advanced, while 1,581 declined and 75 remained unchanged on the NSE.
10. Over 100 stocks hit their 52-week highs
As many as 109 stocks, including Solar Industries India, Max Financial Services, Indian Bank and Indian Bank, hit their 52-week highs in intraday trade on the BSE.
On the flip side, Signpost India, CP Capital, Dr. Agarwals Health Care, NIIT Learning Systems and Orchid Pharma were among the 43 stocks that hit their 52-week lows on the BSE.
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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.
