Slight Dip in Stock Market: Sensex Falls 77 Points, Nifty Down by 34 Points

Pressure on Banking and IT Sectors

Out of the 30 Sensex stocks, 19 closed in the red while 11 saw minor gains. The most selling pressure was observed in the banking, auto, and IT sectors, while FMCG and energy sectors offered some relief.

Volatile Listing of Leela Hotels

In today’s session, the parent company of luxury hotel chain 'The Leela', Schloss Bangalore Limited, had a weak debut on the exchanges. On the NSE, the stock listed at ₹406, down 6.67%, and closed at ₹433.80 — a loss of ₹1.20 compared to its issue price of ₹435 per share.

On the BSE, the listing was at ₹406.50 — a 6.55% discount. However, after the initial dip, the stock showed some partial recovery.

Mixed Global Market Trends

Asian markets witnessed volatility today.

• Japan’s Nikkei tumbled 494 points to close at 37,470.

• Korea’s Kospi closed at 2,698 with a minor gain of 1 point.

• Hong Kong’s Hang Seng Index fell 131 points to close at 23,157.

• China’s Shanghai Composite remained closed today due to a holiday.

On May 30, U.S. markets also showed mixed trends.

• Dow Jones rose 54 points to close at 42,270.

• Nasdaq Composite dropped 62 points to 19,113.

• S&P 500 closed slightly lower at 5,911.