Stock Market Today 2 May: On the first trading day of the month of May i.e. on Monday, May 2, the stock market opened with a big fall. The BSE Sensitive Index Sensex opened at 56,465.98, down 594.89 points, or 1.04%. At the same time, NSE’s Nifty opened at 17,102.55 with a fall of 142.50 points or 0.83%. IndusInd Bank shares were the biggest gainer of 3.71% on BSE during early trade. At the same time, there is a big decline in the shares of Titan, Sun Pharma, Asian Paints. The shares of these three companies are down by more than 2%. Today, the biggest fall is in metal and IT stocks. The total market cap of BSE listed companies has gone up to Rs 2.64 lakh crore.
Top gainers and losers of Nifty
HDFC Life, Tata Consumer, Kotak Bank, Sun Pharma and HDFC Bank are among the top gainers of Nifty. On the other hand, Axis Bank, Coal India, Adani Ports, Wipro and ONGC are among the top losers.
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Talking about the sectoral index, there is a decline in almost all the sectoral indices except the private bank index. The shares of metal companies are seeing a decline of 1.30%. At the same time, there is a decline of 1.28% in the shares of IT sector companies.
What do experts say?
On the market movement this week, Santosh Meena, Head of Research, Swastika Investmart said, “After the sharp fall in the US market, the market is likely to open this week on a sluggish start. Investors will again focus on the outcome of the FOMC meeting in the US. The FOMC meeting is to be held on Wednesday and the Indian market will react on Thursday. “Global indicators will dominate the market this week as the Bank of England (BoE) will also take a decision on the interest rate in addition to the FOMC meeting,” he said. Also US employment data and global PMI data are also due this week.
Ajit Mishra, Vice President – Research, Religare Broking said, “This week will be less business days due to holidays. Many important developments and figures are going to come during the week. Market investors will be the first to react to the vehicle sales figures.” Mishra said, “On the macro front, the manufacturing PMI and services PMI figures will be out on May 2 and May 5 respectively. The much-awaited IPO of Life Insurance Corporation (LIC) will open on May 4. On the global front, all eyes will be on the outcome of the US central bank meeting.