Markets close in the red

31 May 2022 , 04:17 PM

Indian markets ended the day in red today. At the time of closing, Nifty was down by 76.85 points. BSE Sensex was down by 359.33 points. Top gainers today were ONGC, NTPC , M&M etc. Top losers today were Kotak Bank, Sun Pharma,  HDFC etc.

Markets ended on a negative note today after ending on a positive not for the previous three trading days. Foreign Institutional Investors remained net sellers in the Indian markets over the past few days. So much of the support has been provided by domestic investors.
ONGC’s stock gained because of increase in crude oil prices.  Sun Pharma saw declined today because of the loss that it posted in the March 2022 quarter.

Markets’ movement tomorrow will be determined by India’s GDP growth data in the March 2022 quarter. This data will be released later today. If GDP growth turns out to be above expectations, then markets are likely open in the green tomorrow. If GDP growth data turns out to be below expectations, then markets are likely to open in the red tomorrow.