Tuesday, May 21, 2024

Sensex falls 659 points; Auto, PSU stocks drag market


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Mumbai, May 13: India benchmark indices fell nearly 1 per cent on Monday, following a negative trend in Asian peers. At 10:00 a.m., Sensex was down by 659 points or 0.93 per cent at 71,989 points, and Nifty was down by 201 points or 0.91 per cent at 21,854 points.

Nifty small cap was down by 335 points or 2.08 per cent at 15,771 points and the Nifty mid cap was down by 763 points or 1.54 per cent at 48,769 points.

Sectorally, Nifty Auto was the top loser, down by 2.88 per cent. Nifty PSU Bank and Nifty Energy indices were down by 2.88 per cent and 1.93 per cent, respectively.

1,282 shares were in red mark and 738 shares were in green mark on NSE

On Sensex, 29 out of 30 shares were on the red mark and 1 one share was on the green mark.

Tata Motors, Tata Steel, JSW Steel, SBI, NTPC, and Power Grid are the top losers. Only Sun Pharma is in the green.

According to the brokerage firm Prabhudas Lilladher, “Nifty witnessed a significant slide during the week, with a 22,000 zone sustained as of now with bias maintained with a cautious approach and 21,750 levels as the crucial support base. A decisive breach above the significant 50 EMA level of 22,230 is necessary to improve the bias and establish conviction for further rise.”

“Sensex has formed an INSIDE BAR PATTERN on the daily chart, and a decline below 72,300 will drag the index down to 71,500. The support for the day is seen at 72,000/21,900 levels, while the resistance would be at 73,100/22,200 levels.”



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