Stock Market Live: Jumpstart for markets! Nifty above 22,950, Sensex near

The NSE has added  Biocon, GNFC, Hindustan Copper, Vodafone Idea, and Piramal Enterprises in F&O on May 28, 2024.

“Sensex reached a historic 76,000 milestone, while GIFT Nifty is at 23,022, down 10 points. Nifty is expected to continue its upward trend, though key events like the exit poll results, GDP data, and May F&O expiry could influence the market. Positive monsoon forecasts are likely to support agricultural output and economic growth. For trading, buy Nifty on dips between 22,800-22,850 with targets at 23,100/23,351 and Bank Nifty at CMP with targets at 49,600/50,000,” said Prashanth Tapse, Senior Vice President of Research at Mehta Equities.

Foreign institutional investors (FII) sold shares worth Rs 541.22 crore, while domestic institutional investors (DII) bought shares worth Rs 922.60 crore on May 27, 2024, according to the provisional data available on the NSE.

The US Dollar Index (DXY), which measures the value of the dollar against a basket of six foreign currencies, fell by 0.20 to 104.54.

US markets were closed on Monday, May 27, in observance of Memorial Day. On Friday, Nasdaq Composite reached record highs. The tech-heavy Nasdaq Composite rose by 184.76 points, or 1.10%, to close at 16,920.79. The S&P 500 increased by 36.88 points, or 0.70%, finishing at 5,304.72, while the Dow Jones Industrial Average edged up slightly by 4.33 points, or 0.01%, to end at 39,069.59.