231 smallcaps suffer double-digit losses as investors sell in May . Will they come back in June? The stock market cliche of sell in May and go away proved true this year amid general election uncertainties. Concerns over BJP s election performance and significant volatility affected investor sentiments. Benchmark indices like Sensex and Nifty experienced slight declines.
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Nifty needs a decisive breach above 22,300 to continue with the positive upward movement and aim for next targets of 22,550-22,600. The support for the index is near 22,000.
Share market in April: Sensex and Nifty 50 rose over a per cent each in April. Sensex hit its fresh record high of 75,124.28 on April 9 and the Nifty 50 scaled its fresh peak of 22,783.35 on April 30.