Calculate your SIP ReturnsExplore

Buzzkill for the Bulls: Nifty50 Turns Negative 

07 June 20236 mins read by Angel One
Nifty and Sensex had seen a strong bull run for the last few days, with the Nifty hitting all time highs. However, the situation changed this morning
Buzzkill for the Bulls: Nifty50 Turns Negative 
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

Nifty 50

Amid conflicting weak global cues, the NSE Nifty opened at 18,752, a gap down by 60 from its closing value of 18,812 yesterday. The Nifty and Sensex overall gave up Thursday’s gains However, the Nifty Midcap and Nifty Smallcap indices are trading 0.1% higher despite the fact that the overall markets are largely down.

 The sectoral indices of Nifty fluctuated between gains and losses. The top performers are Nifty Oil & Gas and Nifty Realty, while the biggest laggards are Nifty Auto and Nifty FMCG

Let us see some of the following stocks to gauge what has happened:

Top gainers:

Stock Name  Current Market Price (in ₹) Price Change  Market Cap 

(in ₹ Cr)

One97 Communications 524.10 4.67% 32,526
Nykaa – FSN E-commerce 175.45 2.36% 48,819
Apollo Hospitals  4878.65 2.16% 68,667

Top losers:

Stock Name  Current Market Price (in ₹) Price Change  Market Cap 

(in ₹ Cr)

Adani Transmission 2,738.10 -3.39% 3,16,159
Eicher Motors 3,337.25 -2.91% 93,999
Mahindra & Mahindra 1,262 -2.36% 1,54,654

Other stocks:

Stock Name  Current Market Price (in ₹) Price Change  Market Cap 

(in ₹ Cr)

Oil & Natural Gas Corporation Ltd  141.9 1.36% 1,76,124
Adani Ports and Special Economic Zone Ltd 897.3 0.80% 1,92,285
Reliance Industries Ltd 2,729 0.20% 18,42,346
Tech Mahindra Ltd 1,103 0.08% 1,07,261
Hindalco Industries Ltd 463.1 -0.06% 1,04,135
Britannia Industries Ltd 4,391 -0.18% 1,05,969
Adani Enterprises Ltd 3,907 -0.20% 4,46,299
Kotak Mahindra Bank Ltd 1,929 -0.27% 3,84,086
Tata Motors Ltd 437.0 -0.30% 1,45,572

So, what is Gap Up & Gap Down in Stock Market?

Whenever the price of a particular stock, or any other asset for that matter, opens above or below the close of the previous day, assuming there was no trading in between those times, it is said to be “gapping” in the stock markets. 

Stock market gaps are visible on a chart when a stock’s price jumps abruptly between two candlesticks, leaving a vertical gap in a chart.

Stocks that would open in the following trading session at a higher price than the closing price of the previous day are said to have experienced a “gap up”. This may happen for various reasons that cause the market (especially the major players in it) to be bullish enough to skip the prices that fall in the gap up and bid prices much above the closing price.

Similarly, if a stock opened at a price lower than the closing price from the previous trading session then it is said to have experienced a gap down. This shows that the sellers were desperate enough to charge a far lower price than the LTP of just the previous day.

All said, it’s crucial for traders to accurately recognise the gap type they’re dealing with and to hold off on placing a trade until a directional movement has formed.


Tracking indices and their underlying assets easily is a must for both equity and options traders as well as investors. Open demat account with Angel One today to experience our advanced user-oriented index tracking features and much more!


Open Free Demat Account!

Enjoy Zero Brokerage on Equity Delivery

Join our 2 Cr+ happy customers

Enjoy Zero Brokerage on Equity Delivery
Enjoy Zero Brokerage on Equity Delivery

Get the link to download the App

Send App Link

Enjoy Zero Brokerage on
Equity Delivery