On May 28, the last trading day of the week, the Indian stock market bounced. The benchmark indices BSE Sensex and NSE Nifty were up around 0.6% at the close of the market. Most of the energy sector stocks rose amid good signals from overseas markets. Let’s see what was important in the market on Friday-
After the boom, the Sensex has now come to around 51,500. At the same time, the Nifty 50 index closed near 15,450, making a new peak.
Big things of business on May 28-
The BSE Sensex saw a gain of 307 points on the last day of the week. At the same time, the NSE Nifty 50 index gained 98 points.
At the time of closing the market, 17 out of 30 stocks of the Sensex pack remained in the red mark. 27 shares gained in 50 of the Nifty pack.
The NSE Nifty index closed at its new peak after a boom. Earlier the highest level of Nifty was 14,431.
Shares of SBI, Grasim and Bajaj Finserv made their 52-week peak in the Nifty Pack.
The Nifty Midcap 100 index weakened 0.04%. At the same time, the Nifty Smallcap 100 index lost nearly 0.7%.
The Volatility Index (VIX) has reached 17.40 after a decline of 12.61%.
Open – 15,421.20
Close – 15,435.65
Variation – (+ 0.64%)
High – 15,469.65
Open – 51,381.27
Close – 51,422.88
Variation – (+ 0.60%)
High – 51,529.32
What was the reason behind the market boom?
Good signs from overseas markets were important behind the May 28 rally in the Indian stock market. Bulls made gains in the market due to continuous improvement in the position of Kovid. Trade in the market has also been largely stock and sector based. Investors seem happy with the fourth quarter results. Foreign investors continue to perform weakly in the market.
Which sector did how well?
On Friday, Nifty Bank, Auto, Financial Services, FMCG, Metal and Realty index strengthened by 0.35%. At the same time, the energy sector gained 1.41%. Nifty Pharma 1.15% while IT index weakened 0.15%.
Nifty-50 shares seen the fastest in these stocks
Reliance (+ 5.99%)
Adani Ports (+ 3.41%)
Grasim (+ 3.38%)
Mahindra & Mahindra (+ 2.22%)
Coal India (+ 1.76%)
These shares of Nifty-50 are broken.
Sun Pharma (-3.84%)
Shree Cement (-1.66%)
Bajaj Finserv (-1.38%)
Dr. Reddy Labs (-1.31%)
Bajaj Finance (-1.17%)
Stocks that remain most active-
According to Value, Reliance, SBI and Tata Steel were the three most active stocks in the Nifty. SBI, IOC and Sun Pharma’s stock dominated the market by volume.
What is the sign next?
The constantly growing Corona cases can be worrying for the market. Investors will also be watching the fourth quarter results for the next few days. Investors should trade with caution.