Stay updated with breaking news from Technical Derivative Research. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
231 smallcaps suffer double-digit losses as investors 'sell in May'. Will they come back in June? The stock market cliche of 'sell in May and go away' proved true this year amid general election uncertainties. Concerns over BJP's election performance and significant volatility affected investor sentiments. Benchmark indices like Sensex and Nifty experienced slight declines.
Experts predict Nifty 50 may test support at 22,650 and 22,400 levels before Lok Sabha election results, with cautious bullish trends.
Nifty needs a decisive breach above 22,300 to continue with the positive upward movement and aim for next targets of 22,550-22,600. The support for the index is near 22,000.
Share market in April: Sensex and Nifty 50 rose over a per cent each in April. Sensex hit its fresh record high of 75,124.28 on April 9 and the Nifty 50 scaled its fresh peak of 22,783.35 on April 30.
Indian markets faced pressure from Middle East concerns, impacting smallcap stocks' returns. Top gainers included Moschip Technologies, Solara Active Pharma, and Dhani Services.