Sensex, Nifty 50 fall for second consecutive session— 10 key highlights from Indian stock market today

Frontline indices the Sensex and the Nifty 50 ended lower on Wednesday, May 289, extending losses to the second consecutive session amid weak global cues.

The Sensex closed at 81,312.32, down 239 points, or 0.29 per cent, while the Nifty 50 ended the day at 24,752.45, down 74 points, or 0.30 per cent.

The BSE Midcap index also ended lower by 0.22 per cent, while the Small-cap index bucked the trend, rising 0.50 per cent.

Indian stock market: 10 key highlights from the day

1. Why did the Indian stock market fall for the second consecutive session?

The domestic market's stretched valuation, dwindling foreign capital inflow, and a lack of fresh triggers keep the market in a lower orbit.

Meanwhile, ITC emerged as the top drag on the Sensex as the stock suffered a loss of over 3 per cent after a block deal by BAT.

"The domestic indices remained rangebound with a negative bias, primarily due to the lack of support from FIIs and prevailing premium valuations. A lingering concern over India-US trade relations following the end of the 90-day pause period continues to pose an external risk," Vinod Nair, Head of Research, Geojit Investments, noted.

"On the domestic front, key economic indicators such as an improved monsoon forecast, a benign inflation outlook, and expectations of a stronger Q4GDP may help cushion downside risks. However, earnings visibility needs to improve in tandem with the macros, which is vital for stability in the direction," Nair said.

2. Top gainers in the Nifty 50 index today

Shares of HDFC Life Insurance Company (up 1.51 per cent), BEL (1.27 per cent), and Bajaj Finance (up 1.21 per cent) ended as the top gainers.

3. Top losers in the Nifty pack

As many as 34 stocks ended in the red in the Nifty pack, among which IndusInd Bank (down 1.93 per cent), Apollo Hospitals Enterprise (down 1.89 per cent) and UltraTech Cement (down 1.82 per cent) closed as the top losers.

4. Sectoral indices today

Nifty Bank and Financial Services indices rose 0.12 per cent each, while the PSU Bank index jumped 0.97 per cent. The Private Bank index declined 0.11 per cent.

With a loss of 1.49 per cent, Nifty FMCG ended as the top loser. On the other hand, Nifty Media jumped 1.04 per cent, ending as the top gainer among sectoral indices.

5. Most active stocks in terms of volume

Vodafone Idea (61.2 crore shares), ITC (43.2 crore shares) and IFCI (28.43 crore shares) were the most active stocks in terms of volume on the NSE.

6. 11 stocks that jump over 10% on NSE

Ravindra Energy, IFCI, Apollo Micro Systems, Vikas Lifecare and Techno Electric & Engineering Company, were among the 11 stocks that jumped over 10 per cent on the NSE.

7. Three stocks crash 10-11%

RACL Geartech (down 10.96 per cent), Oriental Aromatics (down 10.39 per cent) and Nahar Poly Films (down 10 per cent) were the three stocks that crashed 10-11 per cent on the NSE.

8. Over 90 stocks hit upper circuits; nearly 50 hit lower circuits

Some 93 stocks, including ITI, Zen Technologies, Unimech Aerospace and Manufacturing, Avalon Technologies and Sky Gold and Diamonds, hit their upper circuits in intraday trade on the NSE.

On the other hand, 47 stocks, including Sagility India, Borana Weaves, V2 Retail, Orchid Pharma and Elin Electronics, hit their lower circuits during the session.

9. Advance-decline ratio

As many as 1,462 stocks advanced, while 1,395 declined and 83 remained unchanged on the NSE.

10. Nearly 100 stocks hit their 52-week highs

As many as 98 stocks, including BEL, Cholamandalam Investment and Finance Company and HDFC Life Insurance Company, jumped to hit their 52-week highs in intraday trade on the BSE.

On the other hand, Orchid Pharma, NIIT Learning Systems and Chembond Chemicals were among the 32 stocks that hit their 52-week lows.

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