A morning walk down Dalal Street | Market likely to see more pressure from bears in the upcoming sessions
Episode 1253, May 30, 2019, 01:30 AM
A volatile Wednesday for D-Street just ahead of the May F&O expiry. The Sensex saw a cut of more than 200 points while the Nifty50 failed to hold on to 11900 levels.
The index seems to be trading in a range and investors should initiate fresh positions only above a breakout above 12041 or a breakdown below 11500 levels, suggest experts.
On the NSE ten out of eleven sectoral gauges ended lower, led by the NSE Nifty PSU Bank Index’s 2.8 percent fall.
Broad market indices like the BSE Mid Cap index lost more, thereby underperforming the Sensex/Nifty. Market breadth was negative on the BSE/NSE.
Barring Consumer Durables, Realty & IT, which closed in the green, all the other sector indices ended in the red with Metals, Auto, Power, Capital Goods & Banks being the top losers, down 1-2%.