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Sensex ends marginally higher after volatile trade; Nifty below 22,500

The marginal increase in the Sensex suggests cautious optimism among investors, while the dip in the Nifty indicates some profit-taking and consolidation in select sectors.

Edited By: Nitin Kumar @Niitz1 New Delhi Updated on: May 06, 2024 16:34 IST
Image Source : FILE Business stock exchange building.

In today's trading session, the stock market witnessed mixed movement, with the Sensex closing marginally up and the Nifty slipping. The Sensex, India's benchmark stock index, edged up by 17.39 points, closing at 73,895.54. Despite minor gains, the index managed to maintain its position above the 73,000 mark. On the other hand, the Nifty, representing the broader market sentiment, dipped by 33.15 points, closing at 22,442.70. The decline in the Nifty reflects a slight downturn in market performance.

Key gainers and losers

Kotak Mahindra Bank surged 5%, propelled by a robust 25% growth in its net profit for the March quarter. Conversely, Titan plummeted 7% post its disappointing quarterly results. Other major gainers included Tata Consultancy Services, Hindustan Unilever, and Mahindra & Mahindra. State Bank of India and NTPC were among the laggards.

Market analyst's take

Vinod Nair, Head of Research at Geojit Financial Services, noted that domestic indices experienced range-bound trading with significant selling pressure, attributed to valuation concerns and profit-booking.

Global market indicators

Brent crude climbed to USD 83.62 a barrel. In Asian markets, Shanghai and Hong Kong ended positively, while Japan and South Korea remained closed for holidays. European markets traded with gains, following Wall Street's significant gains on Friday.

Warren Buffett's remarks

Billionaire investor Warren Buffett expressed interest in exploring the "unexplored" opportunities in the Indian market through Berkshire Hathaway, his conglomerate holding company. This statement came during Berkshire's annual meeting when queried about potential ventures in India.

Also read | Stock markets update: Sensex surges over 450 points, Nifty opens above 22,550 points


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