Sensex Down 304 Points, Nifty Closes Below 18700
Sensex Down
During today’s trading day in the Indian markets, several sectors experienced selling pressure. Banking, Financial Services, IT, Metal, PSU Bank, Private Bank, and Realty sectors saw a decline in their stock prices, with the selling pressure ranging from 0.23% to 1.98%.
The closing values for the major indices were as follows: the Nifty closed below 18,700 points, and the Sensex closed at 62,923 points.
However, it is worth noting that the Sensex witnessed a recovery from its day’s high, gaining 304 points, while the Nifty rallied up to 75 points.
In contrast to the performance of the major indices, midcap and smallcap stocks experienced gains. The BSE midcap index closed higher, up by 0.25%, and the Nifty’s midcap 100 index registered a gain of 0.20%. Similarly, the BSE smallcap index closed 0.08% higher.
These figures indicate that while the overall market sentiment was negative, there were pockets of positive performance in the midcap and smallcap segments.
During the trading session, the BSE’s 30-share flagship index, Sensex, was observed trading at 62,923.54 points.
This represented a decline of 304.97 points or 0.48 percent compared to the previous session. On the other hand, the NSE’s 50-share flagship index, Nifty, was trading at 18,680.80 points, reflecting a decrease of 75.10 points or 0.40 percent.
These figures indicate a negative trend in the market, with both the Sensex and Nifty experiencing a decline during the trading session.
The percentage decline in the Sensex was slightly higher at 0.48 percent, while the Nifty witnessed a relatively lower decline of 0.40 percent.
During the trading session, several sectors faced selling pressure, leading to a decline in their stock prices.
The Banking, Financial Services, IT, Metal, PSU Bank, Private Bank, and Realty sectors witnessed this selling pressure, with the percentage declines ranging from 0.23 percent to 1.98 percent.
Additionally, the Bank Nifty, which represents the banking sector’s performance, closed down by 1.23 percent at a value of 43,445.95.
On the other hand, some sectors experienced an increase in their stock prices. The auto, FMCG (Fast-Moving Consumer Goods), pharma, healthcare, consumer durables, and oil and gas sectors saw positive movement during the trading session.
These figures indicate a mixed performance across different sectors. While the banking and real estate sectors faced selling pressure, other sectors like auto, FMCG, pharma, healthcare, consumer durables, and oil and gas witnessed an increase in their stock prices.
Several leading stocks experienced a decline in their closing prices during the trading session. Hero MotoCorp, Wipro, IndusInd Bank, State Bank of India (SBI), Kotak Mahindra Bank, HDFC Life, ICICI Bank, and HDFC Bank were among the stocks that closed down, with percentage declines ranging from 1.32 percent to 3.58 percent.
On the other hand, some stalwart stocks performed well and closed higher. Apollo Hospitals, Divis Laboratories, Dr. Reddy’s Laboratories, Cipla, Bharat Petroleum Corporation Limited (BPCL), Adani Enterprises, and Mahindra & Mahindra (M&M) were among the stocks that closed higher, with percentage gains ranging from 1.04 percent to 3.95 percent.
These figures illustrate the divergent performance of different stocks within the market. While some leading stocks, including those in the banking and financial sectors, witnessed declines, certain stalwart stocks in sectors such as healthcare, pharmaceuticals, and energy experienced gains and closed higher.
In the midcap segment, several stocks witnessed declines during the trading session. Zee Entertainment, Oberoi Realty, Canara Bank, Union Bank, and Voltas slipped, with their stock prices declining by percentages ranging from 2.1 percent to 4.43 percent.
On the other hand, some midcap stocks performed well and registered gains. Rajesh Exports, Tube Investments, Godrej Industries, L&T Finance, and Apollo Hospitals saw their stock prices rise, with percentage gains ranging from 4.09 percent to 6.92 percent.
In the smallcap segment, there were a number of stocks that witnessed declines during the trading session. Cartrad Tech, Sampadana Sphoor, Kirloskar Ferro, Prestige Estates, and Sanghi Industries saw their stock prices slip, with declines ranging from 4.1 percent to 4.77 percent.
Conversely, some smallcap stocks performed well and experienced significant gains. Jubilant Industries, Nectar Lifesciences, HEG, INTL Convoyor, and Poly Medicure saw their stock prices rise, with impressive percentage gains ranging from 13.29 percent to 20.00 percent.
