Sensex Today Tanks 617 Points | Nifty Ends Below 22,500 on F&O Expiry | 5 Reasons Why Indian Share Market is Falling

Thu, 30 May Closing

   Previous Close   

   Pre-Open   

   10:30 am   

After opening the negative note, Indian share markets Slipped further as the session progressed and ended the day weak.

Indian stock markets saw intense selling on Thursday, extending their weakness into fifth day. The Sensex saw exacerbated selling in the second half, tanking lower.

At the closing bell, the BSE Sensex stood lower by 617 points (down 0.8%).

Meanwhile, the NSE Nifty closed lower by 216 points (down 0.9%).

ICICI Bank, Axis Bank and SBI were among the top gainers today.

Tata Steel, Tech Mahindra and Wipro on the other hand, were among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

The GIFT Nifty ended at 22,647 down by 73 points.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets ended the day mixed. The BSE Mid Cap ended 1.2% lower and the BSE Small Cap index ended 1.3% lower.

Barring banking sector all other sectoral indices are trading on negative note with stocks in power sector and metal sector witnessing buying most selling pressure.

Shares of Oberoi Realty, EID Parry and Indian Bank hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 83.31 against the US$.

Gold prices for the latest contract on MCX are trading 0.4% lower at Rs 71,951 per 10 grams.

Meanwhile, silver prices are trading 1.9% lower at Rs 94,247 per 1 kg.

Here are five reasons why Indian Markets are falling today

#1 Lok Sabha Election Result

The ongoing market volatility with the nervousness ahead of the Lok Sabha election result due on 4 June 2024.

While markets are confident of the ruling Bharatiya Janata Party (BJP) returning to power, they fear a low margin of victory may stop the government from taking bold reforms.

#2 Tension in the Middle East

Global equities traded lower on Wednesday as higher bond yields and a surge in oil prices due to heightened tensions in the Middle East (a fresh attack on the ship in the Red Sea) stoked concerns that interest rates will likely stay higher for longer.

#3 Rising Treasury Yield

The better than expected consumer confidence data along with hawkish commentaries from US Fed officials led to a surge in US treasury yields to one-month high.

#4 Monthly Expiry

Frontline indices are falling today because of the monthly expiry. The roll-over rate is slow in early morning deals, which is also a reason for the dip in the Sensex, Nifty and other major Indian indices. However, the roll-over rate is expected to pick up in the second half, and we might see some recovery in the second half.

#5 Dent to US Fed Rate Cut Hopes

Soaring crude oil prices and rising tension in the Middle East is expected to put pressure on the US inflation, which got reflected in the hawkish talks by the US Fed officials. So, in the wake of the high interest rate regime, the US dollar and the US Treasury or bond market are expected to attract more investments compared to other assets like gold, equity, mutual funds, etc.

Speaking of stock market, Research Analyst, Richa Agarwal, in her latest video talks that While data is the new gold, the data center ecosystem could be the goldmine to strike it rich.

Tune in for list of stocks to ride this opportunity.

Why Sun Pharma Share Price is Falling

In news from the pharma sector, Sun Pharmaceutical shares were trading in red on 30 May after reports suggested that the US Food & Drug Administration (US FDA) issued four observations to one of the pharma major's manufacturing facilities.

According to reports, USFDA made several observations about Sun Pharma. First, the firm didn't take adequate precautions to prevent API contamination. Another observation highlighted the lack of procedures for routine maintenance.

Additionally, Sun Pharma failed to document their material sampling methods. The company was also instructed to identify impurity reference standards before analytical standards. According to the USFDA, a reference-standard material must be a highly purified and well-characterized compound.

Dahej is a key unit for Sun Pharma, as it significantly contributes to its exports to the US, a primary market for the company. Sun Pharma does not reveal the specific revenue contributions of individual units.

Paytm Hits Upper Circuit. What's Fuelling the Rally?

Moving on to news from the fintech space, shares of Paytm hit a 5% upper circuit for the second straight session on 30 May. The stock has seen a sharp rally after a report said that billionaire Gautam Adani is considering buying a stake in Paytm's parent company One97 Communications.

Paytm, however, issued a clarification later stating that the report was nothing but speculation.

Paytm clarified that the aforementioned news item is speculative and that the company is not engaged in any related discussions. They stated their commitment to making disclosures in compliance with their obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Similarly, the Adani Group denied the media report, stating that the speculation is baseless, false, and untrue.

On 31 January the RBI imposed business restrictions on the Paytm Payments Bank (PPBL) citing repeated violations of norms and non-compliance with multiple rules.

The banking regulator barred PPBL from accepting fresh deposits and doing credit transactions after 29 February.

Therefore, the speculation of a partnership with the Adani Group comes at an opportune moment for the beleaguered fintech major which reported a weak number for the quarter that ended March 2024.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers