Market Ends At Day’s Low Following A Sharp Downtick In The Last Hour Of Trade

Added: 2026-06-02

[00:00:01]Okay, we'll try and reconnect with you, but LIC is a stock that he likes.

[00:00:05]Uh LIC You know, I think there's some adjustment which must have taken place in LIC. There's an adjustment. There is a bonus of 1:1 which explains that 50% drop in price. But for the markets, it's an MSCI let's sell off which took place in the last 30 minutes. It was a waterfall decline. But even if you look at the chart on an intraday basis, we opened higher. We opened flat, but with a positive bias. 2400 was uh nearly the intraday high on the Nifty and from there we were gravitating lower before that vertical fall which took place.

[00:00:33]Ending with a cut of about uh 1000 points on the Sensex. Now it's trying to pull back a bit. On the Nifty around the 23,550 mark. Sectorally, I think IT was the only sector where we managed little bit of some, you know, gains coming through. So, Tech Mahindra, HCL Tech, Wipro in the green ending with gains of about 1 and 1/2%. Asian Paints saw buying post their numbers, a good set of numbers. Street likes the performance and generally the numbers for many of these paint companies have been quite strong. Nestle trend, so there was a consumption tilt on the buying side too.

[00:01:03][music] On the way down, uh the top loser is Power Grid. So, that slipped below the 200-day moving average today.

[00:01:09]Bajaj Auto, Eicher Motors saw selling.

[00:01:12][music] The May auto sales numbers will be out over the weekend and early next week. Uh InterGlobe Aviation under pressure ahead of numbers. Uh Q4 [music] is going to be weak on account of the March uh geopolitical stress and even Q1. So, the street will watch the outlook very closely. NTPC, [music] Max Healthcare. Uh Max has been a big drag this entire week. So, today 2 and 1/2% down, but it's lost nearly 5 and 1/2% [music] from the top of the week. And ONGC with the slide in crude prices to $92 per barrel, ONGC slipped 3% today. And for the week, it's down 8 and 1/2%. So, that was the biggest casualty [music] of the week.

[00:01:49]>> Well, I think uh that is the week, right? I mean, Nifty down 0.9, Bank Nifty up a little bit, mid-cap index up a little bit, small-cap index up about almost 1%. So, the best performing part is the small cap [music] index.

[00:02:01]Once again, it's a wrap on this edition of Closing Bell. Thank you very much for staying with us. More comes up on the other side.

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