Stock Market Today: Sensex up 0.60%, Nifty gains 0.48% amid election result volatility
BSE Sensex was up by 0.60 per cent, or 430 points, to 72,507, while the NSE Nifty was at 21,990, up by 0.48 per cent, or 106 points. A total of 3,012 stocks were actively traded; 1,368 advanced, 1,547 declined, and 97 stocks remained unchanged. At 9.30 am on Wednesday, 38 stocks hit a 52-week high, and 65 stocks hit a 52-week low.
Deven Mehata, Research Analyst, Choice Broking, said, “The benchmark Sensex and Nifty indices are expected to open higher on June 5, following GIFT Nifty trends indicating a gain of 95.5 points (0.44 per cent) for the broader index.
Nifty can find support at 21,800, followed by 21,700 and 21,500. On the higher side, 22,000 can be an immediate resistance, followed by 22,150 and 22,200.
The charts of Bank Nifty indicate that it may get support at 46,700, followed by 46,500 and 46,300. If the index advances further, 47,300 would be the initial key resistance, followed by 47,500 and 47,700.
Foreign institutional investors (FIIs) sold a huge amount of Indian equities on June 4, worth ₹12,436.22 crore, while domestic institutional investors also sold equities worth ₹3,218.98 crore on the same day.
INDIAVIX was positive yesterday by 27.75% and is currently trading at 26.7475.
Yesterday, we witnessed huge volatility in markets on the day of the election results. FIIs were sold in high quantities as the election results were not as per the exit polls released on Saturday. Traders should trade with strict stop losses as we can witness high volatility in the markets.
Top gainers on the NSE at 9.30 am include Hindustan Unilever (5.11%), Hero Motocorp (4.51%), Britannia (4.02%), Nestle India (3.80%), Asian Paints (3.49%). Top losers include, Hindalco (-4.06%), L&T (-3.46%), Power Grid (-2.23%), Adani Ports (–2.18%), Adani Enterprises (-2.07%)
BSE smallcap was down by 0.34 per cent, and midcap was up by 0.064 per cent