May 4: Stock Market Breaks Down Around 1%, Pharma Shares Fall!

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On Tuesday, May 4, the Indian stock market remained in the red mark with a fall. The BSE Sensex and the NSE Nifty index were down around 0.95% at the time of closing the market amid volatility. Almost all the sector-based indices saw a decline due to Covid’s concerns. Let’s see what is important in the market

The Sensex closed around 48,250 due to weakness. Similarly, the Nifty 50 index has also come down to 14,500 now.

Big business talk on May 4

The BSE Sensex weakened 465 points, while the NSE Nifty 50 index lost 137 points.
At the time of closing the market, 21 out of 30 stocks of the Sensex pack remained in the red mark. 50 shares of the Nifty pack rose 16.
Hindalco, Tata Steel and SBI Life Insurance shares made their 52-week peak in the Nifty Pack.
Reliance stock lost for the second consecutive day despite good quarterly results. The stock closed down 2.10% in the NSE.
The Nifty Smallcap 100 and Nifty Midcap 100 indices also remained in the red mark like the Nifty. The midcap index lost 0.4% while the smallcap index lost 0.9%.
The Volatility Index (VIX) has reached 22.99 after falling 2.95%.

Market movements

Nifty

Open – 14,687.25
Close – 14,496.50
Variations – (-0.94%)
High – 14,723.40
Lo- 14,461.50

Sensex

Open – 48,881.63
Close – 48,253.51
Variations – (-0.95%)
High – 48,996.53
Lo- 48,149.45

What is the reason for the decline in market?

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Byers had a clear hold in the market most of the time amidst considerable volatility. Investors are worried about the decrease in economic activity due to rising Corona cases. Weak signs of various foreign markets also supported the weakness in the market. Investors are largely satisfied with the fourth quarter results, but the current restrictions will affect the performance of companies. Profit booking by foreign institutional investors continues.

Which sector did well?

All the sector-based indices of the Nifty remained in the red mark on Tuesday. The decline in Nifty Bank, Auto, IT, Financial Services, FMCG, Metal and Realty indices ranged from 0.5% to 1%. The pharma sector was the weakest, losing 2.02%. At the same time, the energy sector closed down 0.2%.

Nifty-50 shares seen the fastest in these stocks

SBI Life Insurance (+ 2.65%)
ONGC (+ 1.57%)
BPCL (+ 1.44%)
Adani Ports (+ 0.87%)
Bajaj Finance (+ 0.78%)

These shares of Nifty-50 are broken.

Tata Consumer (-4.30%)
Cipla (-3.13%)
Dr. Reddy Labs (-2.12%)
Reliance (-2.10%)
Divis Labs (-2.03%)

Stocks that remain most active

According to Value, Bajaj Finance, Tata Steel and Adani Ports were the three most active stocks in the Nifty. SBI, Tata Motors and Adani Ports dominated the stock by volume.

What is the signal for 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.

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