Sensex Today Live: Indian Markets End Lower Amid Election Uncertainty and Inflation Data Watch

Sensex Today Live: Indian Markets End Lower Amid Election Uncertainty and Inflation Data Watch/PTI

Dil Bar Irshad | May 28, 2024 | 05:04 PM IST | Breaking News | Follow on Google News

Sensex Today Live: Indian Markets End Lower Amid Election Uncertainty and Inflation Data Watch

Sensex Today Live: Indian Markets End Lower Amid Election Uncertainty and Inflation Data Watch

Sensex Today Live: Indian Markets End Lower Amid Election Uncertainty and Inflation Data Watch

Market Highlights:

• Sensex closed at 75,170.45, down 220.05 points (0.29%).
• Nifty 50 ended at 22,888.15, down 44.30 points (0.19%).
• Market sentiment affected by ongoing Lok Sabha elections and global inflation data anticipation.
• Both indices had previously touched all-time highs in the last two trading sessions but closed in the red for the second consecutive day.

Sector Performance:

• Top Drags on Sensex: Power Grid Corp., NTPC, Tech Mahindra, Bharti Airtel, and Tata Motors.
• Top Gainers on Sensex: Asian Paints, Wipro, JSW Steel, Hindustan Unilever, and Bajaj Finserv.
• Top Drags on Nifty 50: Adani Ports & SEZ, Power Grid Corp., BPCL, Coal India, and Adani Enterprises.
• Top Gainers on Nifty 50: Divi’s Laboratories, SBI Life, HDFC Life, Hero MotoCorp, and Grasim Industries.

Broader Market Performance:

• BSE MidCap down 0.63%
• BSE SmallCap down 1.09%
• Sectoral Performance:
• Realty, PSU Bank, and Oil & Gas indices were the top drags.
• Pharma and Healthcare indices gained the most.
• Bank, Auto, Metal, Consumer Durables, and IT indices closed in the red.
• Financial Services, Media, and FMCG sectoral indices ended in the green.

Corporate News:

• 3M India: Q4 revenues at ₹1,094.5 crore, up 4.6% YoY. Net profit rose 27% YoY to ₹173 crore.
• Hind Rectifiers: Recorded a net profit of ₹5 crore in Q4, compared to a loss of ₹2.4 crore in the year-ago period. Revenues at ₹151.3 crore, compared to ₹111.6 crore YoY.

Summary:

The Indian stock markets saw a subdued session today, influenced by the cautious mood surrounding the ongoing 2024 Lok Sabha elections and the anticipation of inflation data globally. The Sensex and Nifty 50 indices opened higher but remained rangebound throughout the day, closing lower for the second straight session. The broader market also ended in the red, with significant declines in the Realty, PSU Bank, and Oil & Gas sectors. However, the Pharma and Healthcare sectors showed resilience with notable gains. Corporate earnings reports from 3M India and Hind Rectifiers provided some positive news amid the broader market’s cautious sentiment.

(This Content is reproduced from Mint’s Live Blog)

Dil Bar Irshad

Dil Bar Irshad is a seasoned journalist, hails from Jammu Kashmir's Doda, covers political, social, business stories, index stories.