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After eking out minor gains in the early minutes of the session, the 30-share pack Sensex turned negative but managed to close off lows and ended 185.24 points or 0.33 per cent lower at 55,381.17. Its broader peer, Nifty50, also fell 61.80 points or 0.37 per cent to close below the 16,550 levels.

The worst fall was seen in the steel sector. Two stocks Jindal Stainless and Jindal Stainless (Hisar) were the top index losers, falling 39 per cent and 38 per cent, respectively, for the month.

According to a regulatory filing by the company, the seasoned investor and his better half jointly held a 7.5 per cent stake in the company at the end of March 2022.

However, the shares of new age internet companies like Paytm, Zomato, Nykaa, PB Fintech and CarTrade have corrected significantly amid the recent decline in the markets.

Bond prices fall when yields rise, resulting in marked-to-market losses for investors. This would adversely impact the returns of bond funds as the NAV of funds is computed at the prices prevailing on that day.

“One cannot get too distracted by competition. We have five other guys that each have their own little niche, that each have their own little business model, their own little strategy, we cannot go tying ourselves in knots trying to give you a price war. We have to focus on ourselves. ”

Post the listing, eMudhra extended its total gains to per cent over the issue price to hit Rs 279 on BSE. However, the counter saw profit booking, resulting in fizzling out of euphoria. The stock was last hovering around its issue price

“It is true M&M is one of the very few stocks which has managed to reach four-year high levels and overall outlook is good, but within auto, I would not go with Mahindra & Mahindra. We would rather go with Maruti, Hero Motor or Tata Motors. Among IT largecaps, we prefer Infosys along with HCL Tech and TCS.”

Provisional data available on NSE for May 31st suggest another Rs 1,003.56 crore-worth of FPI selling in Indian stocks, taking the May outflows to Rs 40,996.56 crore.

Earlier in May M&M reported a 427 per cent jump in its standalone profit after tax (PAT) at Rs 1,292 crore, for the quarter ended March 2022. The auto major had clocked an of Rs 245 crore in the same quarter last year.