Sensex and Nifty 50 Bounce Back After 5-Day Slide: Investors Focus Exit Polls

On Friday, May 31, the Sensex and Nifty 50 showed modest gains, ending a five-day losing streak. Investors turned their focus to exit polls, which will be released after the last phase of elections on June 1.

Before this, the indices had dropped for five days in a row, falling 2.4% from their peak earlier in the week due to high volatility ahead of the Lok Sabha election results. Over the week, the Sensex dropped by 1,449 points, and the Nifty fell by 426 points, marking their first weekly decline in three weeks as traders adjusted their positions before the exit polls and results.


Market sentiment has been affected by significant foreign investor outflows, mixed global signals, reduced hopes for interest rate cuts, and geopolitical tensions. On the bright side, government data showed that India remained the world’s fastest-growing major economy in FY24, with an 8.2% GDP growth. However, GDP growth for the January-March quarter slowed to 7.8%.

Religare Broking’s monthly derivatives rollover report noted that Nifty 50 closed around 22,500 after seeing selling activity in the latter half of the day. The report highlighted that banking, cement, and oil & gas sectors had the highest rollover rates in May at 95%, while another sector had the lowest rollover at 80%.

Summary of Nifty and Bank Nifty Derivatives: Nifty futures rolled over at about 72%, compared to 65% in the previous series. The Open Interest (OI) for the new contract increased by 20 lakh contracts, indicating more short positions.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

We will be happy to hear your thoughts

      Leave a reply

      Share Price India News