Market Closing Bell: The 50-issue NSE Nifty dropped 73.35 points or 0.30 per cent to 24,752.45. It had closed at 24,826.20 in the last trading session.
Mumbai: Market Closing Bell: Stock markets decline for the second straight day today, i.e. on May 28, 2025. remained rangebound with a negative bias, primarily due to the lack of support from FIIs and prevailing premium valuations. Equity benchmark indices, Sensex and Nifty, witnessed lacklustre activity and remained rangebound with a negative bias, mainly due to the lack of support from foreign institutional investors (FIIs) and prevailing premium valuations. The 30-share BSE barometer fell 239.32 points or 0.29 per cent to settle at 81,312.32 against the previous close of 81,551.63. During the day, it touched a high of 81,613.36 and a low of 81,244.02.
The 50-issue NSE Nifty dropped 73.35 points or 0.30 per cent to 24,752.45. It had closed at 24,826.20 in the last trading session. During the day, it hit a high of 25,864.25 and a low of Rs 24,737.05. Among sectors, all leading sectoral indices, including Nifty Auto, Nifty IT and Nifty FMCG, ended in the red, with the Nifty FMCG losing the most, 1.49 per cent, at the end of the session.
The broader markets ended mixed, with the Midcap 100 index falling 0.02 per cent to 57,254.45 and the Nifty Smallcap 100 index adding 0.33 per cent to 17,784points at the end of the session.
“The Nifty spent another day in consolidation, with the index remaining largely range-bound ahead of the monthly expiry. On the hourly chart, the index has slipped below the critical 21-EMA and 50-EMA, indicating a weakening trend in the near term. Immediate support is seen at 24,700; a sustained move below this level could trigger further selling pressure. Significant put writing at 24,700 reinforces the technical setup. On the higher end, notable call writing is observed at 24,800. A decisive move above 24,800 could force call writers to cover their positions at the 24,800 CE, potentially triggering a sharp rally in the market,” said Rupak De, Senior Technical Analyst at LKP Securities.
From the Sensex 30 pack, ITC, IndusInd, Nestle India, UltraTech Cement and Mahindra & Mahindra were among the laggards with ITC falling the most – over 3 per cent.
Bajaj Finance, Bharti Airtel, ICICI Bank, Adani Ports and HCL Tech were among the gainers.
