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The Indices Ended Flat After A Volatile Session, Metal & FMCG Stocks Outperformed


The Indices Ended Flat After A Volatile Session, Metal & FMCG Stocks Outperformed
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Sensex and Nifty recovered for the early losses to end flat on 3rd May 2020.

At close, the Sensex was down 63.84 points or 0.13 per cent at 48,718 and the Nifty was up 3.10 points or 0.02 per cent at 14,634.20. About 1803 shares have advanced, 1184 shares declined and 162 shares remain unchanged.

On the Nifty 50 index, Adani Ports (4.29 per cent), Bharti Airtel (4.12 per cent), SBI Life Insurance (3.22 per cent), Tata Steel (2.97 per cent) and HUL (2.30 per cent) were the top gainers for the day, while Titan Company (-4.54 per cent), IndusInd Bank (-2.28 per cent), Reliance (-1.78 per cent), Axis Bank (-1.70 per cent) and BPCL (-1.38 per cent) were the top losers for the day.

On the sectoral front, Metal index rose over 2 per cent and FMCG index rose 1 per cent. The bank and energy indices closed in red.

The BSE Midcap and Smallcap indices rose 0.05 per cent and 1.57 per cent respectively.

Author’s View: 14,400 is a good support for Nifty. On the upside 14,700 will act as immediate resistance for the index. If we can get past this level and stay above it, we can expect to see a target of 15,100. On the downside if 14,400 is broken, then we might slip to 14,150.

Disclaimer:  The view/s expressed above are only for educational/awareness purpose. Mumbailive.com or the author of the post bears no liability for any losses suffered by following any advice posted on the website. You are solely responsible for making your own investment decisions.

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