Indian stock market: Both Indian indices – Sensex and Nifty 50 – ended the last week of May on a lower, making it second consecutive week to close in red.
The BSE benchmark dropped by 270.07 points, or 0.33%, while the Nifty slipped 102.45 points, or 0.41%. The market closed the week on a cautious note, reflecting a muted performance influenced by persistent global trade tensions and uncertainty over upcoming domestic policy decisions.
On Friday, both indices ended lower after a mostly range-bound session, weighed down by declines in IT stocks and weak cues from Asian markets amid trade uncertainty sparked by a U.S. appeals court’s temporary reinstatement of reciprocal tariffs.
The 30-stock BSE Sensex fell by 182.01 points, or 0.22%, closing at 81,451.01. Meanwhile, the NSE Nifty slipped by 82.90 points, or 0.33%, to end the day at 24,750.70. In contrast, the Bank Nifty index outperformed the broader market, rising by 0.63% to finish at 55,749, boosted by robust gains in the banking sector.
“Nifty ended the week on a jittery note, while Bank Nifty offered a silver lining with a 0.63% gain, led by SBI’s 2.76% surge. Volatility is expected to persist as both buyers and sellers remain cautious; technically, Nifty turns bullish only above 25,116, with key support at 24,363. Market turbulence looms amid escalating US-China trade tensions, with President Trump accusing China of violating their agreement. Eyes now turn to the RBI’s rate decision on June 6 and rising COVID-19 cases, with hopes pinned on Bank Nifty and short covering to push Nifty past the 25,000 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
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