Sensex Drops 7 Points, Nifty Closes at 22,957 on May 24, 2024

Nifty ? ? ? ? 22,957 [-10.55] 0.05

Sensex? ? 75,410 [-7.65] 0.01

Reasons for Market Downturn

• The negative sentiment in global markets, particularly the decline in European and US stocks, influenced Indian investors, contributing to the downturn in the Indian stock market.

• Uncertainty over interest rates and the Federal Reserve's policies created apprehension among Indian investors, contributing to the market's downturn.

• After hitting fresh record highs earlier in the session, investors might have opted to book profits, especially in sectors like FMCG, Healthcare, IT, Metal, and Realty, causing a downward trend in the market.

Top 3 Stocks That Lost The Most?

Nifty

Adani Ports? -1.83?

Tech Mahindra? -1.42

M&M -1.26

Sensex

TCS? -1.16

Tech Mahindra? -1.07

Titan Company? -1.02?

• Shares of Adani Ports fell today possibly due to a significant block deal involving 1.88 crore shares, creating uncertainty about the official buyers and sellers.

Sectors of the Day?

Nifty FMCG -0.80

Nifty Realty -0.66

Nifty Midsmall Healthcare -0.65?

IPO Performance?

• HOAC Foods India shares price debuted today with a premium of over 206%, opening at ?147 on NSE SME.?

• Rulka Electricals Limited shares price debuted today with a premium of over 123%, opening at ?525 on NSE SME.?

Key Events To Track For 27th May 2024?

• Monitor international markets for any significant developments or trends that could impact Indian markets.

• Keep an eye on scheduled economic data releases such as GDP figures, industrial production data, or inflation reports, as they can influence market sentiment and direction.

• Track earnings announcements from major companies across sectors, to gauge the health of the corporate sector and anticipate market reactions.

• Stay informed about any policy announcements or decisions by the Indian government, as they can impact market sentiment and specific industries.

• Stay updated on global events as they can affect Indian markets and investor sentiment.

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