Share Market LIVE: Nifty slips to 23,700 as tech, FMCG selling erases morning gains; Sensex turns flat – Market News

Markets traded flat at this hour in intraday trade, with the Sensex up 65 points or 0.09% at 75,383, while the Nifty gained 50 points or 0.21% to trade near 23,710.

At this hour, Hindustan Unilever slipped 0.10%, Sun Pharmaceutical Industries declined 0.24%, Titan Company fell 0.35%, Infosys dropped 0.43%, while Bajaj Finance was down 0.76%.

“The recent market movements indicate a buy on dips market construct. Buy on dips strategy has been working well. It appears that the sustained selling by FPIs has also stopped since they were buyers on a couple of days recently,” Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments

He further added, “The correction in KOSPI and TAIEX and the FPI selling in these markets indicate concerns around bubble valuations in AI stocks in these markets. Weakness in South Korean and Taiwanese markets can turn out to be a blessing in disguise for India. Since valuations in India are fair, and even attractive in certain pockets, FPIs may turn buyers infusing some optimism in the market. A lot will depend on the crude price and stability in the rupee. Brent crude declining to $106 this morning is a positive signal. Perhaps the market is taking cues from President Trump’s remark that “ the conflict will end soon and oil prices would plummet.” But going by past experience, President Trump’s words cannot be trusted and, therefore, we will have to see more tangible results.”

“Q4 results have been, so far, good. The negative impact of the energy crisis will be felt in Q1 FY27. But if crude price continues to decline, the remaining quarters will be reasonably good,” he noted.

At this hour, Bharat Electronics gained 2.95%, InterGlobe Aviation rose 2.45%, Asian Paints added 1.20%, Eternal climbed 1.15%, Tata Steel advanced 1.13%, while Adani Ports and Special Economic Zone Liited moved up 0.87%.

Indian equity markets have opened today’s trade on a strong note as crude oil prices slipped a bit, injecting positive . The Nifty 50 opened the trade 196 points or 0.83% higher at 23,855, while the BSe Sensex surged 596 points or 0.79% to open at 75,915.

The Nifty Bank opened the trade 520 points or 0.97% higher at 54,082, while the Nifty Midcap 100 rose 551 points or 0.91% to open at 61,874.

Indian equity markets are expected to open on a strong positive note, with the Nifty trading at 23,806, up by 140 points. Global equities gained momentum after a strong rally on Wall Street, supported by easing bond yields and softer crude oil prices, as investors turned optimistic over a possible resolution to the ongoing Middle East conflict, said Aakash Shah, Technical Research Analyst at Choice Broking.

Technically, the Nifty formed a bullish candle after a gap-down opening, reflecting healthy buying interest from lower levels. However, the index continued to trade below all key moving averages, including the key EMAs, all of which remain downward sloping, indicating that the broader trend is still under pressure, he added.

“The benchmark Nifty index is consolidating in a Symmetric Triangle formation on intraday charts, having resistance in the 23,700-23,800 zone and supports at 23,450-23,300 zone. A break on either side of the formation will start a short-term move in that direction. By the time it is trading within the mentioned range, we suggest that traders maintain stocks and a sector-specific trading approach,” said Vipin Kumar, Assistant Vice President of Technical Research at Globe Capital.

Foreign institutional investors (FIIs/FPIs) remained net sellers in the Indian equity market on May 20, offloading shares worth Rs 1,597 crore. Domestic institutional investors (DIIs) continued to provide support to the market and purchased equities worth Rs 1,968 crore during the session.

Silver rates are in focus as well. In the international market, silver (XAG/USD) was trading at around $76.01 per troy ounce.

In the international market, gold edged higher and was trading at $4,540 per ounce after the sharp drop overnight .

Gold prices in India remain in sharp focus. On the MCX, June gold futures were trading at Rs 1,60,silver042 per 10 grams in the latest update.

The Indian Rupee weakened further and closed at a fresh record low of 96.83 against the US Dollar on May 20. The domestic currency depreciated by 30 paise during the session amid continued pressure from global factors and rising demand for the dollar.

“Nifty 50 continues to trade with a cautiously positive undertone amid range-bound price action and resistance at higher levels. Technically, the 23,400 zone remains an important immediate support area, and holding above this region will be crucial to preserve the ongoing recovery structure,” said Ponmudi R, CEO of Enrich Money

“On the upside, a sustained move above the 23,800 level could strengthen momentum further and push the index toward the broader 23,900–24,000 resistance zone, where stronger selling pressure is likely to emerge. The index continues to face resistance near higher levels, keeping the broader sentiment range-bound. Overall, the near-term technical structure remains cautiously positive, while a decisive breakout above the psychological 24,000 mark will be essential to strengthen bullish momentum further.” he added.

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading at 99.13 on Thursday morning. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc.

In the last trading session, the Electric Equipment sector emerged as one of the top gainers, with its market capitalisation rising 4.61%. The Education sector also witnessed strong buying interest and gained 3.04% during the session. Meanwhile, the Petroleum sector moved higher by 2.06% in the last trading session.

In the last trading session, the L G Balakrishnan Group emerged among the top gaining business groups with a rise of 3.68%. The Ambani Group also witnessed strong buying interest and gained 2.61%, while the Kalyani Group moved higher by 1.98% during the session.

On the losing side, the Jaypee Group declined 2.8% in the last trading session. The Future Group also remained under pressure and slipped 3.09%, while the Essel Group recorded the sharpest fall among the listed groups, dropping 4.57% during the session.