Sensex & Nifty Reached New Milestones But Ended Lower On May 27, 2024

Reasons for Market Downturn

• After hitting fresh record highs earlier in the session, profit booking occurred as investors sold off their positions to lock in profits. This selling pressure at higher levels contributed to the decline in both the Sensex and the Nifty.

• Anticipation of the Lok Sabha election results and India's Q4FY24 GDP data release prompted investors to exercise caution, resulting in selling pressure which led to the market’s decline.?

Top 3 Stocks That Lost The Most?

Nifty

Adani Enterprises? - 2.66?

Wipro - 2.17?

Grasim - 2.09

Sensex

Wipro? - 2.45?

NTPC - 1.25?

Sun Pharma? - 1.22

• Sun Pharma's stock in the Indian market likely declined today due to investor disappointment over lower-than-expected sales.?

Sectors of the Day?

Nifty Media? - 0.97?

Nifty Metal? - 0.62

Nifty Oil & Gas? - 0.55

IPO Performance?

• Beacon Trusteeship IPO will be open for bidding from May 28, 2024, to May 30, 2024, with shares priced at Rs 57 to 60 per share.

Key Events To Track For 28th 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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