Domestic equity benchmarks finished marginally lower on Monday, extending losses for a second straight session as weakness in financial, IT and energy shares outweighed gains in auto stocks. The Nifty slipped 6.55 points, or 0.03%, to settle at 23,907.15, while the BSE Sensex fell 141.90 points, or 0.19%, to close at 75,867.80.
Meanwhile, the volatility gauge India VIX ended at 14.98, down by 7.12% from the last closing.
The stock markets were closed today on account of the Bakri-Id holiday. -
Here's how analysts read the market pulse:
Commenting on the Vatsal Bhuva, Technical Analyst at LKP Securities said the Nifty 50 recently witnessed a breakout above the 23,800 congestion zone on the daily chart, indicating improving momentum in the index. However, profit booking has been visible during the last two trading sessions following the recent rally, he said.
"In Wednesday’s session, the index managed to take support near its 20-day SMA, reflecting buying interest at lower levels. On the derivatives front, both call and put writers remained active, with significant call writing at the 24000 strike establishing it as a strong resistance zone, while aggressive put writing at 23900 indicates immediate support. Overall, technical and derivative data suggest a sideways to mildly positive trend for the upcoming sessions. On the levels front, 23800 is likely to act as immediate support, while 24000-24100 remains a strong resistance zone. Positional support for the index is placed at 23650 levels," Bhuva added.
US markets
U.S. stocks turned higher on Thursday following reports that the United States and Iran have reached an agreement to extend the ceasefire and launch negotiations, after the two nations exchanged air strikes.
The agreement, reported by Axios, still needs the approval of U.S. President Donald Trump, and comes after Iran targeted a U.S. air base in Kuwait and the United States struck what Washington described as an Iranian drone complex near the Strait of Hormuz.
A raft of economic data showed first-quarter U.S. GDP grew at a more sluggish pace than originally reported, the saving rate sank to its lowest level since June 2022, inflation continued to heat up, and new orders for core-capital goods - a barometer for corporate spending plans - unexpectedly dropped.
European Markets
European shares pared their losses following reports of a deal between the US and Iran to extend ceasefire.
Tech View
According to analysts at Bajaj Broking, the Nifty formed a small bullish candlestick with shadows on both sides on the daily chart, indicating a phase of consolidation amid stock-specific activity. The brokerage noted that the index continues to hold above its 20-day exponential moving average (EMA), while the recent breakout above the 23,200–23,850 range seen over the previous nine sessions remains intact.
The brokerage added that the index is currently testing the upper end of the breakout zone, and sustaining above Monday’s gap area of 23,835–23,922 would keep the near-term bias positive. In that case, the Nifty could move towards the 24,200–24,300 zone in the coming sessions, which coincides with the trendline resistance connecting the highs of April and May 2026.
On the downside, Bajaj Broking said immediate support is placed around 23,600. A breach below this level could lead to an extended consolidation phase. The brokerage identified the 23,200–23,000 region as a major support zone, citing it as the confluence of the lower end of the April 8 bullish gap and the 61.8% retracement of the earlier rally from 22,182 to 24,601.
Most active stocks in terms of turnover
Pine Labs (Rs 725 crore), Laren & Toubro (L&T, Rs 568 crore), TVS Motor Company (Rs 421 crore), HDFC Bank (Rs 373 crore), JP Power (Rs 283 crore), Adani Total Gas (Rs 268 crore) and Reliance Industries (RIL, Rs 242 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
JP Power (Traded shares: 12.78 crore), Pine Labs (Traded shares: 5.34 crore), Vodafone Idea (Traded shares: 4.10 crore), Suzlon Energy (Traded shares: 2.13 crore), Ola Electric (Traded shares: 1.13 share), HCC (Traded shares: 84.82 lakh) and YES Bank (Traded shares: 75.54 lakh) were among the most actively traded stocks in volume terms on BSE.
Stocks showing buying interest
JP Power, NALCO, Tata Motors Passenger Vehicles, Alkali Metals, Suryalata Spinning Mills, Zee Learn and Coffee Day Enterprises were among the stocks that witnessed strong buying interest from market participants.
52-week high
Today, 162 stocks hit their 52 week highs while 40 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Acutaas Chemicals, Adani Energy Solutions, Adani Enterprises, Bajaj Auto, CG Power, Granules India and HFCL.
Stocks seeing selling pressure
Among the large cap names were ONGC, HDFC Life and Wipro. Other stocks which witnessed significant selling pressure were Brainbees Solutions, Aequs, Carraro India, Hester Biosciences, Entero Healthcare Solutions, Poly Medicure and Great Eastern Shipping Company.
Sentiment meter favours bulls
Sensex settled with cuts dragged by ICICI Bank, HDFC Bank and Reliance Industries (RIL) while the broader market breadth stayed positive. Out of the 4,394 stocks that traded on the BSE on May 27, Wednesday, 2,220 stocks witnessed advances, 1,996 saw declines while 178 stocks remained unchanged.
