BSE Sensex was down by 0.37 per cent or 280.44 points to 74,890, while the NSE Nifty was at 22,801 down by 0.38 per cent or 87 points. A total of 3,186 stocks were actively traded, 1,619 advanced, while 1,454 declined and 113 stocks remained unchanged where 73 stocks hit a 52 week high and 32 stocks hit a 52 week low at 10 am on the BSE.
Deven Mehata, Research Analyst, Choice Broking, said, “The benchmark Sensex and Nifty indices are expected to open weak on May 29, following GIFT Nifty trends indicating a loss of 110 points for the broader index. Nifty can find support at 22,800 followed by 22,700 and 22,650. On the higher side, 22,950 can be an immediate resistance, followed by 23,000 and 23,100.
The charts of Bank Nifty indicate that it may get support at 49,000, followed by 48,800 and 48,700. If the index advances, 49,300 would be the initial key resistance, followed by 49,400 and 49,600. Foreign institutional investors remained net buyers on May 28 as they bought Indian equities worth ₹65.57 crore, while domestic institutional investors continued their buying as they purchased equities worth ₹3,231.67 crore on the same day.
INDIAVIX was positive yesterday and closed higher, up by 4.32 percent and is currently trading at 24.1950. Yesterday, Indian markets traded flat during the day, then fell in the last hour and finished near the day’s low. Traders with long positions should set a strict stop loss at 22800 on a closing basis. After outperforming for the previous three sessions, the Bank Nifty showed profit booking yesterday but still closed above 49000 levels.”
Top gainers on the NSE at 9.30 am include Hindalco (1.13%), Bharti Airtel (1.05%), Tata Steel (0.60%), Divi’s Lab (0.55%), Coal India (0.50%). Top losers include, SBI Life (-1.64%), M&M (-1.28%), HDFC Life (-1.23%), IndusInd (-1.10%), HDFC Bank (-0.96%).
BSE Smallcap was up by 0.39 per cent while BSE Midcap was down by 0.055 per cent.