Stock Market Today: Sensex, Nifty End in Red; FMCG Gains, Auto Drags

Sensex and Nifty 50 ended in negative territory on May 7, as widespread selling was observed amid ongoing Q4 earnings, failing to instill confidence in the markets striving to sustain breadth near record highs.

At close, Sensex saw a decline of 383 points or 0.5 percent, closing at 73,511.85, while the Nifty 50 dropped by 141 points or 0.6 percent to settle at 22,301.50. Of the stocks traded, approximately 840 advanced, 2,441 declined, and 82 remained unchanged.

On May 7, 11 out of 13 major sectoral indices recorded losses. Additionally, profit booking was witnessed in the broader market at elevated levels.

Top Nifty50 Gainers

• Hindustan Unilever: 5.2%
• Tech Mahindra: 2.52%
• Nestle India: 2.06%
• Britannia Industries: 2.05%
• ITC: 1.44%

Top Nifty50 Losers

• Bajaj Auto: -3.98%
• Power Grid: -3.65%
• ONGC: -3.07%
• IndusInd Bank: -2.9%
• Hindalco Industries: -2.86%

Asian Markets

South Korean stocks led gains in Asia-Pacific markets on Tuesday after Wall Street rose overnight on expectations that the Federal Reserve could cut interest rates soon. South Korea’s Kospi closed 2.16 percent higher at 2,734.36 to scale a more than one-month peak, powered by heavyweights Samsung Electronics and SK Hynix. The small-cap Kosdaq ended 0.66 percent higher at 871.26. Australia’s S&P/ASX 200 closed up 1.44 percent at 7,793.30 after the decision, gaining for a fourth straight day.

Japan’s Nikkei 225 resumed trading after a holiday to end 1.57 percent higher at 38,835.1, while the broad-based Topix gained 0.65 percent to close at 2,746.22. Hong Kong’s Hang Seng index fell 0.51%, according to a CNBC.com report.

European Markets

European markets had a positive start to trading on Tuesday as traders monitor a flurry of earnings reports in the region. The regional Stoxx 600 index was 0.6 percent higher with most sectors in the green. Financial services led gains, up 2.2 percent, according to a CNBC.com report.

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Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment.