BSE Sensex was up by 0.07 per cent or 52.35 points to 75,442.85, while the NSE Nifty was at 22,948.60 up by 0.07 per cent or 16.15 points. A total of 3,873 stocks were actively traded, 1,231 advanced, while 2,530 declined and 112 stocks remained unchanged when 164 stocks hit a 52-week high and 34 stocks hit a 52-week low at 1.31 pm on the BSE.
The grammatical error is in the phrase “when 164 stocks hit a 52-week high and 34 stocks hit a 52-week low at 1.31 pm on the BSE.” It would be more grammatically correct to say: “At 1:31 pm on the BSE, 164 stocks hit a 52-week high, and 34 stocks hit a 52-week low.”
Shrey Jain, Founder & CEO SAS Online - India’s Deep Discount Broker, said, “Yesterday, Nifty tested the 23,100 level but failed to maintain its gains and ended flat. Today, we expect Nifty to consolidate around the 23,000 level, as both the 23,000 Call and Put options have substantial open interest. Specifically, the 23,000 Call strike has significant open interest of approximately 64 lakh shares, while the 23,000 Put strike holds around 71 lakh shares in open interest.
For Bank Nifty, the 49,000 Put strike has notable open interest, which is expected to provide support, whereas the 49,500 level is likely to act as a resistance. The volatility index continues to rise ahead of the election results, reaching 23.61. Until June 3rd, we can expect the market to exhibit rollercoaster-like fluctuations.”
Major gainers on the NSE include Divi’s Lab (2.57 per cent), HDFC Life (2.05 per cent), Dr Reddy’s Lab (1.59 per cent), Hero MotoCorp (1.55 per cent), and SBI Life (1.44 per cent). Major losers include Adani Ports (-1.75 per cent), Power Grid (-1.32 per cent), Coal India (-1.21 per cent), BPCL (-1.08 per cent), and NTPC (-0.97 per cent).
BSE Smallcap was down by 0.94 per cent, while BSE Midcap was down by 0.73 per cent.