Nifty 50 showed profit booking by making a record high on 3rd May - How will the market be on Monday?

Friday was a very turbulent trading day for traders and investors. The market started on Friday by making a record high and then the entire market plunged into profit booking. Nifty 50 touched a record high of 22794 on Friday. The market remained green only for the first 15 minutes of the day, but the decline that started in the market showed no signs of stopping.

Nifty 50 touched a low of 22350 during the day's trading session. Bank Nifty also had more or less the same condition. Although the Bank Nifty looks less weak than the Nifty 50, the pace of fall in Nifty was more rapid than that of Bank Nifty. 

Nifty 50 fell by 172 points and Bank Nifty fell by 307 points. Heavyweight Reliance contributed the most to the fall of Nifty 50. Reliance fell by 56 points (2.22%). After that, Larsen & Turbo fell by 30 points. 

From the image given below, you will be able to know which stocks were responsible for the fall and rise of Nifty 50.

NIFTY PULLERS & DRAGGERS

Coal India had presented excellent fourth quarter results, hence on Friday's trading day, Coal India remained on top among the top GAINERS of Nifty with a gain of 4.56%. ICICI Bank has been in a bullish trend ever since it has shown excellent results. 

Talking about Bank Nifty, HDFC Bank's underperformance continues. Kotak Bank is facing the brunt of RBI action. Kotak Bank is at its lowest level in 3 years. Among government banks, except SBI, all other PSU banks closed in the red.

Among private banks, only AU Small Finance Bank closed in the green.  

Talking about FII FLOWS, FIIs buy less and sell more. FIIs sold shares worth Rs 2392 crore on May 3. Domestic institutional investors, however, made small purchases worth Rs 691 crore. FIIs made huge sales in FUTURES. 12609 crores were sold in FUTURES. 

After a long time, profit booking was also seen in Nifty Midcap and Nifty Small Cap. 

Nifty Midcap fell by 180 points to close at 50935 (-0.35%) and Nifty Small Cap closed by 83 points at 16936 (0.49%). 

Now we have to see how the market behaves on Monday. This month will depend on the course of the Lok Sabha elections. There will be fluctuations in the market.