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NIFTY 50 & BANK NIFTY ANALYSIS
Profit booking is seen in the market at the end of the trading day. On April 30, Nifty 50 touched a high of 22783 and a low of 21568 during the trading day. On April 30, the Nifty 50 index closed at 22604.
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| NIFTY 50 INDEX |
Bank Nifty also saw a profit booking of about 700 points at the end of the trading day. Bank Nifty index touched a high of 49974 and a low of 49249 on April 30. Bank Nifty index closed at 49396 on April 30.
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| BANK NIFTY INDEX |
ICICI Bank hits its all-time high of 1169. Axis Bank hits its all-time high of 1182. Although today HDFC Bank's share lagged behind other banks in rising but was at the forefront in falling. HDFC Bank shares closed at 1515 with a weakness of 13 points.
There has been a weak trend in Kotak Mahindra Bank since April 25, when RBI took action on Kotak Bank. Kotak Mahindra Bank closed at 1623 with a weakness of 17 points.
Among government banks, except SBI, all other banks performed well. Bank of Baroda closed with a rise of 7.80 points, PNB Bank with an increase of 3.40 points, and Canara Bank with a rise of 0.15 points. SBI closed at 821.90 with a weakness of 4.60 points.
NIFTY 50 PULLERS & DRAGGERS
Auto stocks also played a big role in taking Nifty 50 higher today. M&M with a gain of 22.70 points and Bajaj Auto with a gain of 4.70 points were among the Nifty pullers. From the image given below, you can see which stocks were included in Nifty Pullers and Draggers on 30 April 2024.
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| Nifty Pullers and Draggers |
SECTOR ANALYSIS
Talking about different sectors, except Nifty Auto, Reality, Nifty Financial Services, Nifty PSU Banks, and Nifty Energy, all other sectors were in the red.
From the image given below you can find out how which sector performed on 30 April 2024.
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| SECTOR ANALYSIS |
FII & DII FLOWS
After a long time, the purchase data came from FII on 30th April 2024. FII purchased Rs 1072 crore and DII purchased Rs 1429 crore in the cash segment on 30th 2024. FII purchases Rs 10987 crore in the F&O segment. DII has been a constant buyer in the market since the beginning, but FII has been selling for some time now.
CONCLUSION
The month of May will be completely under the influence of Lok Sabha elections. There are still 5 rounds of polling left. The market seemed a bit worried due to the low voting percentage in the first two rounds.
Right now, it is very difficult to predict whose government will be formed in 2024 and the market is also keeping an eye on this major event.
