Closing Bell: Headline indices end lower in a volatile session

Closing Bell: Headline indices end lower in a volatile session

by 5paisa Research Team Last Updated: Jun 01, 2022 - 04:33 pm 26.2k Views

Domestic equity bourses Sensex and Nifty after starting the session on a positive note today erased all the initial gains as volatility arose amid mixed trends from Asian stocks.

Indian equity market extended its losses for the second straight day on Wednesday, dragged by technology, pharma and consumer goods shares. The headline indices pared early lead on renewed inflation worries as India's economic growth slowed to the lowest in a year during the fourth quarter (Q4) of the financial year 2021-22 (FY22). The country's gross domestic product (GDP) grew 4.1% year-on-year in Q4 FY22. Owing to these developments, benchmarks finished lower for the second consecutive session.

At the closing bell on June 1, the Sensex fell 185.24 points or 0.33% at 55381.17, and the Nifty lost 61.70 points or 0.37% at 16522.80. On the market breadth, about 1800 shares have advanced, 1450 shares declined, and 132 shares are unchanged.

On a sectoral basis, pharma, power, and realty were the top losers while buying was seen in financials and capital goods shares. In the broad markets, the midcap index ended flat, while the smallcap index added 0.5%.

In the top Nifty loser, Bajaj Auto was the top drag as the stock lost 3.65% to Rs 3,723. Other laggards include Apollo Hospitals, Hindalco, Tech Mahindra and Bajaj Finserv. Top gainers were M&M, HDFC, Kotak Mahindra Bank, Tata Steel, HDFC Bank, ITC, NTPC, SBI, ICICI Bank and Axis Bank.

Among the buzzing stocks, Ashok Leyland, Maruti, TVS, and Tata Motors reported better-than-expected monthly sales. While, tractor majors M&M, and Escorts sales were better than the estimate.

In the currency market, Rupee ended at 77.52 per US dollar against yesterday's close of 77.64 per US dollar.

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