The BSE Sensex was up by 0.09 per cent or 64.36 points to 75,435, while the NSE Nifty was at 22,966 up by 0.15 per cent or 36.50 points.
A total of 3,214 stocks were actively traded; 1,420 advanced, while 1,689 declined, and 105 stocks remained unchanged. Additionally, 103 stocks hit a 52-week high and 18 stocks hit a 52-week low at 9.54 am on the BSE.
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “As we approach the election results a bit of nervousness is visible in the market. The sharp correction in Nifty in the afternoon yesterday indicates this nervousness. This uncertainty-led nervousness is likely to continue.
A high possibility is the market getting a clue of the election results earlier than June 4th. This can happen any time and can trigger a big move in the market.
Bank Nifty has the potential to move towards 50,000 and go past that level in the event of a sharp rally in the market. Trading may prove to be very risky in the near-term. Investors can buy largecaps on declines.”
Major gainers on the NSE include Hindalco industries (2.68 per cent), Divi’s Lab (1.38 per cent), Dr Reddy’s Lab (1.08 per cent), Tata Steel (0.85 per cent), and Wipro (0.75 per cent). Major losers include Tech Mahindra (-0.71 per cent), Adani Ports (-0.52 per cent), Eicher Motors (-0.34 per cent), ITC (-0.31 per cent), and Bharti Airtel (-0.29 per cent).
BSE Smallcap was down by 0.61 per cent, while BSE Midcap was down by 0.10 per cent.