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Trading Wrap Up For 28 May,2024:

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Share Market Closing Note


Sensex down 220 pts, Nifty below 22,900; pharma outperformsAfter hitting record highs in the previous session, the Indian benchmark indices remained in consolidation mode on May 28. At close, the Sensex was down 220.05 points or 0.29 percent at 75,170.45, and the Nifty was down 44.30 points or 0.19 percent at 22,888.15.


After a positive start, the market gyrated between gains and losses during the session, but again, selling in the last hour dragged the indices to the day�s low point.


Biggest Nifty losers included Adani Ports, Power Grid Corp, Coal India, Adani Enterprises and BPCL, while gainers were Divis Laboratories, SBI Life Insurance, HDFC Life, Grasim Industries and Hero MotoCorp.


On the sectoral front, Oil & Gas, Capital Goods, Telecom, PSU Bank, Power and Realty were down 1-2 percent. However, pharma index was up 0.5 percent.


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Topic :- Time:3.00 PM


Nifty spot if holds above 22880 level in closing basis then expect some upmove in coming session and if it closes below above mentioned level then some sluggish move may follow in the market.


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Topic :- Time:2.30 PM


CRUDEOIL Trading View:

CRUDEOIL is trading at 6565. If it holds below 6595 level then expect some decline in it and is likely to test 6520 level quite soon and once it manages to trade and sustain above 6595 level then some upmove can follow in it.


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Topic :- Time:2.00 PM


Nifty spot is trading at 22935. If it manages to trade and sustain above 22960 level then expect some upmove in the market and if it breaks and trade below 22910 level then some decline can follow in it.


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Topic :- Time:1.45 PM


Just In:

LIC Eyes Health Insurance Foray Via Organic, Inorganic Routes.


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Topic :- Time:1.30 PM


SILVER Trading View:

SILVER is trading at 94000. If it breaks and trade below 93880 level then expect some decline in it and if it manages to trade and sustain above 94200 level then some upmove can follow in it.


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Topic :- Time:1.00 PM


Nifty is likely to turn volatile now. Nifty spot if manages to trade and sustain above 22960 level then expect some upmove in the market and if it breaks and trade below 22900 level then some decline can follow. Currently Nifty spot is trading at 22934.


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Topic :- Time:12.50 PM


Just In:

FUND FLOW


India records worst FII selloff among emerging markets in May.


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Topic :- Time:12.30 PM


COPPER Trading View:

COPPER is trading at 902. If it breaks and trade below 901 level then expect some decline in it and if it manages to trade and sustain above 904.20 level then some upmove can follow in it.


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Topic :- Time:12.10 PM


Just In:


LAURUSLABS gets 5 observations from USFDA inspection. Negative for stock


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Topic :- Time:12.00 PM


Nifty is trading in range however quick move is expected in the market soon. Nifty spot if manages to trade and sustain above 22980 level then expect some upmove and if it breaks and trade below 22940 level then some decline can follow. Currently Nifty spot is trading at 22953.


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Topic :- Time:11.30 AM


News Wrap Up:

1. Voda Idea, YES Bank, HDFC Bank see heavy volume in range-bound session

2. Now, Adani Group plans to enter Indias digital payment, e-commerce spaces

3. Spain, Ireland to recognise a Palestinian state; EU, Israel ties to plummet

4. Adani board approves Rs 16,600 crore fundraise via QIP

5. BluSmart seeks $300 million to expand car fleet

6. Trade strains boost cargo rates at fast pace

7. SpiceJet refutes KALs Rs 1,323 cr suit

8. Silent layoffs grip Indian IT sector, impact over 20,000 employees

9. Bharat Dynamics shares tank 7% on profit booking, snaps ten-day gaining streak

10. Ultratech Cement plans to acquire 31.6% stake in UAE-based RAK Cement


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