Nifty Bank suffered a loss of over 4,051 points, or 7.95 per cent, to close at 46,928. Hindustan Unilever Limited (HUL), Hero MotoCorp, Britannia, Nestle, and Divis Labs were among the top gainers on Nifty, while ONGC, Coal India, and SBI suffered the most. “Immediate support is visible at the psychological level of 22,000, below which the index might fall further towards 21,400-21,500. Recovery looks possible once the trend moves in favour of the BJP winning the elections comfortably,” said Rupak De, senior technical analyst at LKP Securities. The unexpected outcome of the general elections sparked a wave of fear selling in the domestic market, reversing the recent substantial rally.

Source: dna June 04, 2024 14:55 UTC