Indian Stock Market Sees Dip Today; Sensex Closes 60 Points Down, Nifty Below 24,450. Investors Await India and China's Services PMI Data.
Stock Market Today: A mixed trend was observed in the Indian stock market today (Tuesday, May 6th). The market opened higher, but soon the Sensex dipped by 60 points, and the Nifty fell below 24,450. Investors are now keenly awaiting the final April Services PMI data for India and China, scheduled for release today. Furthermore, the market direction will also depend on the Federal Reserve's FOMC meeting today and the activities of Foreign Institutional Investors (FIIs).
Market Summary
Indian stock markets exhibited a mixed performance today. Both the Sensex and Nifty opened higher in the initial session, but subsequently witnessed a decline. Investor expectations are primarily hinged on key economic indicators and global cues. While some stocks, such as Mahindra & Mahindra and Bharti Airtel, showed positive trends, others continued to display mixed performance.
Global Market Indicators
US stock markets on Wall Street experienced declines. The Nasdaq fell by 0.74%, while the S&P 500 and Dow Jones ended trading down by 0.64% and 0.24%, respectively. Asian markets also showed mixed results. Japan and South Korea observed public holidays, while China resumed trading after a holiday. Australia's S&P/ASX 200 index also closed with a slight dip.
Monday's Market Performance
On Monday (May 5th), Indian markets showed positive performance. The BSE Sensex closed at 80,796.84, up 294.85 points (0.37%), while the Nifty 50 ended trading at 24,461.15, up 0.47%. Strong gains in large-cap stocks like HDFC Bank, Adani Ports, and Mahindra contributed to the market's strength.
Key Data for Today
Investors are awaiting the release of the final April Purchasing Managers' Index (PMI) data for both India and China, expected today. Additionally, Q4 results from companies such as Paytm (One97 Communications), HPCL (Hindustan Petroleum Corporation), and others are also scheduled for release today, attracting significant investor attention.
Company Results
A total of 53 companies are expected to release their Q4 results today. Prominent companies include:
- Aditya Birla Housing Finance
- HPCL (Hindustan Petroleum Corporation)
- Bank of Baroda
- Aarti Drugs
- Godrej Consumer Products
- CG Power and Industrial Solutions
- Paytm (One97 Communications)
