WEB Market falls 2 ahead of election results
10 stocks that moved the most on May 30
The Indian equity market witnessed a steep fall on May 30, 2024, ahead of the announcement of the election results. The benchmark Sensex index shed over 2%, while the Nifty50 index declined by more than 1.5%. This sharp decline was primarily driven by uncertainty surrounding the outcome of the elections.
Among the major sectors, the metal, banking, and auto indices were the worst hit. The Nifty Metal index declined by over 5%, while the Nifty Bank index and the Nifty Auto index fell by more than 2% each. On the other hand, the IT and pharma indices managed to trade in the green, indicating a flight to safety by investors.
Here are the top 10 stocks that moved the most on May 30, 2024:
- Tata Steel: -8.5%
- JSW Steel: -7.9%
- Hindalco Industries: -6.5%
- Tata Motors: -5.8%
- Mahindra & Mahindra: -5.3%
- Infosys: +2.1%
- Wipro: +1.9%
- Tech Mahindra: +1.5%
- Cipla: +1.2%
- Dr. Reddy's Laboratories: +1.1%
The volatility in the market is likely to continue in the coming days as investors await the final election results. The outcome of the elections will have a significant impact on the future course of the Indian economy and the stock market.
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