Stock Market Today: Sensex & Nifty Highlights – May 6, 2025
Stay updated with the latest movements in the Indian stock market. Here's a detailed overview of the market performance on May 6, 2025.
📊 Market Overview
Sensex: Closed at 73,896, up 17 points (0.02%)
Nifty 50: Ended at 22,443, down 33 points (0.15%)
India VIX: Increased by nearly 14%, indicating heightened market volatility.
📉 Sectoral Performance
- PSU Banks: Declined by 3.66% due to RBI's proposed tighter lending norms for projects under implementation.
- Consumer Durables: Dropped by 2.5% amid profit booking.
- Media: Fell by 2.16% reflecting broader market sentiments.
- Realty: Gained nearly 2.7%, showing resilience in the sector.
📈 Top Gainers
- Kotak Mahindra Bank
- Hindustan Unilever (HUL)
- Tata Consultancy Services (TCS)
- Mahindra & Mahindra (M&M)
- Sun Pharma
- Tech Mahindra
📉 Top Losers
- CG Power: Dropped by 6% following flat Q4 earnings.
- Titan: Plunged 7% due to weaker-than-expected Q4 results.
- Affle India: Continued its downward trend, declining by 3.11%.
📌 Key Highlights
- IPO Market: India's IPO market is experiencing a slowdown due to global economic uncertainties and geopolitical tensions. Notably, Ather Energy's IPO saw a tepid response, with its stock falling post-listing.
- Global Influences: U.S. President Donald Trump's new executive order to boost domestic drug manufacturing has impacted Indian pharma stocks negatively.
🧠Expert Insights
According to Vinod Nair, Head of Research at Geojit Financial Services, the domestic indices traded in a range-bound manner influenced by PSU banks’ underperformance due to the RBI's tighter norms on lending to projects under development. The broader indices also witnessed major selling pressure due to valuation concerns and profit booking.
🔮 Technical Outlook
Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas, suggests that the Nifty 50 may face resistance between 22,570 – 22,620 zones. A breach below 22,348 could lead to a downside target of 22,280. For Bank Nifty, a correction towards 48,400 – 48,000 is anticipated.
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