Stocks in focus: Ruchit Jain of 5paisa recommends buying Britannia, and Hindalco today
Stock Market News: The domestic benchmark indices, the Sensex and Nifty 50, started off Tuesday's session on a flat note amid mixed global cues. The domestic market was chiefly driven by metal, realty, and public sector undertakings (PSU) bank stocks. The 30-share BSE Sensex opened lower by 79.41 points, or 0.11%, at the 72,696.72 level, while the Nifty 50 started off at the 22,112.90 level, up 8.90 points, or 0.04%.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated that the May pattern of continuous selling by FIIs and sustained buying by DIIs persists. So, in May, FIIs sold shares in the cash market for ₹29,474 crore, while DIIs purchased for ₹22,973 crore.
Also Read: Sensex Today Live Updates : Sensex, Nifty up at open; Hindalco, Shriram Finance gain, Zomato down This trend is expected to continue, and the jump in the India VIX will assure extreme volatility. Under these conditions, the best alternative for investors is to wait and watch for a trend change, which might occur at any time. Clarity on election patterns is expected to emerge before June 4th, the counting day, and the market response may be substantial, explained Vijayakumar.
Domestic benchmark indices finished in the green for the second day in a row on Monday' session, continuing on the bullish momentum from Friday's session and favourable Wall Street cues. According to experts, the Nifty 50 rebounded from intraday losses to end in the green for the second day in a row as the fourth round of the Lok Sabha elections started. At 15:00 IST on Monday, 52.6% of voters had turned out across ten states and union territories.
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