Global Markets Lower; U.S. House Passes Debt Ceiling Bill; SGX Signals A Lower Start | CNBC TV18

The market snapped a four-day winning streak on May 31, with the benchmark indices falling half a percent tracking correction in the global counterparts. The selling pressure was seen in banking & financial services, oil & gas, and metal stocks.

The BSE Sensex fell 347 points to 62,622, while the Nifty50 declined 99 points to 18,534 and formed bearish candlestick pattern with long lower shadow on the daily charts, indicating buying interest at lower levels. The broader markets outperformed frontline indices as the Nifty Midcap 100 index was up 0.4 percent and Smallcap 100 index gained 1 percent.

Meanwhile, The Nifty futures contract traded on the Singapore Exchange indicates a negative start to domestic equities. The contract was trading at 18,599, down 65 points or 0.35% from the previous close.

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