Indian market ended mixed in a volatile session on May 25. Selling pressure in financials wiped out early gains. Nifty dipped in the negative territory but managed to close above 15,200. However, Sensex ended in the red.
At close, the Sensex was down 14.37 points or 0.03% at 50637.53, and the Nifty was up 10.80 points or 0.07% at 15208.50.
“Market witnessed a positive opening following reports of next set of stimulus measures and declining COVID cases, however, a selling streak in banking stocks forced the market to shed its morning gains and close flat,” said Vinod Nair, Head of Research at Geojit Financial Services.
Except for Nifty Bank, energy and PSU Bank indices all other sectoral indices ended in the green. BSE Midcap index fell 0.31 percent and Smallcap index added 0.26 percent.
Asian Paints, Titan Company, Eicher Motors, JSW Steel and Britannia Industries were among the top gainers on the Nifty, while losers included HDFC Bank, HDFC Life, Reliance Industries, Axis Bank and Coal India.
Stocks & sectors
On the BSE, bank, capital goods, power indices ended lower, while auto, IT, FMCG, metal and oil & gas indices ended in the green.
Among individual stocks, a volume spike of more than 100 percent was seen in Jindal Steel, NALCO and SAIL.
Long buildup was seen in Colgate Palmolive, TVS Motor and IGL, while short buildup was seen in Amara Raja Batteries, SAIL and Alkem Laboratories.
More than 350 stocks, including UPL, IOC, HPCL and JMC Projects, hit a fresh 52-week high on the BSE.
The Nifty formed a bearish candle on the daily scale with a long lower shadow.
“Nifty has to hold above 15,150 zones to witness an up move towards 15,300 then lifetime high of 15,431 marks, while on the downside support exists at 15,100 and 15,000 zones,” said Chandan Taparia of Motilal Oswal Financial Services.