Stock Market Today: Trends on GIFT Nifty Indicate Flat Start for Indian Indices

The Indian stock market ended in the red on May 3, 2024. At close, Sensex settled 764 points or 1.02 percent down at 73,846. Nifty was down 191 points or 0.85 percent at 22,456. Around 1,053 shares advanced and 2,197 stocks declined while 79 stocks remained unchanged.

Heavyweight stock losses led to a decline in the benchmark indices Sensex and Nifty on May 3. Nifty dropped by 446 points from its peak of 22,794, while the 30-stock Sensex plunged by 1,628 points from its intraday high of 75,095.

Except for the metal sector, all other sectoral indices closed in negative territory, with capital goods, oil & gas, realty, telecom, and PSU Bank each declining by 1 percent.

GIFT Nifty

Trends on GIFT Nifty indicate a flat start for Indian indices.

US Markets

A gauge of global stocks rallied while Treasury yields fell on Friday after a US payrolls report was softer than anticipated, easing concerns the Federal Reserve would keep interest rates higher for longer. The Dow Jones Industrial Average rose 450.02 points, or 1.18%, to 38,675.68. The S&P 500 gained 63.59 points, or 1.26%, to 5,127.79. The Nasdaq Composite gained 315.37 points, or 1.99%, to 16,156.33, according to a Reuters report.

Also read: Stock Market Holidays 2024: BSE, NSE to Remain Closed on These Dates; Check List

Asian Markets

Asian stocks rose on Monday on renewed bets that the Federal Reserve would likely ease rates this year, while the yen weakened after a strong surge last week from Tokyo’s suspected currency intervention. Trading was thinned in Asia with Japan out for a holiday, though markets in mainland China got off to an upbeat start after returning from an extended break. MSCI’s broadest index of Asia-Pacific shares outside Japan edged more than 0.5% higher, while China’s blue-chip index gained 1.4 percent, according to a Reuters report.

Results today

Lupin, Marico, Arvind, CarTrade Tech, CG Power and Industrial Solutions, DCM Shriram, Godrej Consumer Products, Gujarat Gas, Happiest Minds Technologies, Indian Bank, Route Mobile, Suven Life Sciences.

FII and DII data

Foreign institutional investors (FIIs) net sold Rs 2,391.98 crore worth shares, while domestic institutional investors (DIIs) bought in Rs 690.52 crore on May 3.

Stocks under F&O ban on NSE

Balrampur Chini Mills, GMR Airports Infrastructure, Aditya Birla Fashion & Retail, Biocon, Vodafone Idea.

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