Tuesday was a very volatile day for the Indian stock market. On the second trading day of the week, the Sensex gained more than 300 points to close above 34,500 points in the first one-hour trade. Similarly, talking about Nifty, it was seen to be trading at a level of 10,300 points with an increase of about 90 points. However, it lost this edge in a short time and the SENSEX-NIFTY came on the red mark. By the end of trading, the Sensex fell by 413.89 points, or 1.20 per cent, to 33,956.69 points. Talking about the Nifty, it dropped 120.80 points or 1.19 percent to 10,046.65 points.
After heavy fluctuations in the domestic stock market on Monday, the Sensex closed at 34370.58, a rise of just 83.34 points, or 0.24 per cent. While the Nifty settled at 10,167.45, up 25.30 points or 0.25 percent from the previous session. Among the 30 Sensex stocks, 16 were up while 14 stocks declined. The top five Sensex stocks were IndusInd Bank (6.89 per cent), Axis Bank (6.10 per cent), Bajaj Finance (4.78 per cent), ONGC (4.60 per cent) and Titan (2.87 per cent). The five biggest losers of the Sensex included M&M (2.75 per cent), Ultra Cement (2.36 per cent), HDFC Bank (1.87 per cent), Tata Steel (1.68 per cent) and Nestle India (1.58 per cent).
The market will remain waiting for major economic data this week. In fact, the industrial production data for April, the initial month of the current financial year, will be released on Friday. Explain that due to the nationwide lockdown, industrial activities had almost come to a standstill in April. Investors’ eyes will also remain at the retail inflation rate for the month of May, the figures of which will be released on Friday on the last day of the business week.