Stock Market Today Opening: Gap Down Start For D-Street! Sensex Down By 183 Points, Nifty Above 22,400

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Stock Market Opening Today, May 21 (Image Source: iStock)

Stock Market Today: The Indian stock market witnessed a slow start today. BSE Sensex is down by 183.60 points or 0.23 per cent. While writing the copy, it is 73,822.34. The NSE Nifty is also opens in red today. At 9:18, it was down by 49.3 points.

Stock Market Today, NSE Nifty: Top Gainers And Losers

Out of the 50 stocks in the Nifty 50 index, 22 were trading higher. The biggest gainers were Coal India, BPCL, JSW Steel, Hindalco, and Power Grid Corp. On the other hand, the biggest losers were Nestle India, Mahindra & Mahindra, Axis Bank, SBI Life, and Infosys.

Stock Market Today, BSE Sensex: Top Gainers And Losers

Out of the 30 stocks in the BSE Sensex, only 11 were trading higher. The top gainers were JSW Steel, Power Grid Corp., Tata Steel, Asian Paints, and NTPC. The top losers were Nestle India, Mahindra & Mahindra, Axis Bank, Infosys, and Hindustan Unilever.

Patel Engineering Share Price Up By 8 Per Cent

Patel Engineering stocks witnessed a jump of more than 8 per cent as the company reported a net profit of Rs 141 crore for the fourth quarter of FY24, which is an 83 per cent increase compared to the same period last year. The company's revenue from operations grew by 11.5 per cent, reaching Rs 1,343 crore, up from Rs 1,205 crore in the same period of the previous year.

Morning Outlook For May 21, 2024

The benchmark Sensex and Nifty indices are expected to open flat with a negative bias on May 21, as GIFT Nifty trend indicates a loss of around 40 points for the index.
Nifty can find support at 22,400 followed by 22,350 and 22,300. On the higher side, 22,600 can be an immediate resistance, followed by 22,650 and 22,700.
The charts of Bank Nifty indicate that it may get support at 48,000, followed by 47,900 and 47,700. If the index advances, 48,350 would be the initial key resistance, followed by 48,500 and 48,600.

INDIAVIX

INDIAVIX was positive on Saturday by 3.67 percent and is currently trading at 20.5250.
Yesterday, global markets traded positively. Indian markets are poised to open with a positive gap. Traders with long positions can maintain a trailing stop loss of 22350 on a closing basis. On the upside, if the Nifty reaches 22650, traders can take profits and wait for dips to open new long bets.
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