Stock Market ends in the red; Sensex loses 500 points
The Indian stock market ended in the red on Tuesday, with the Nifty falling below the 23,900-mark and the Sensex dropping nearly 500 points.
The Indian stock market on Tuesday ended higher, extending its gains for the fourth consecutive session. The Nifty closed above the 23,100 level, with key gains led by IT, media, metal and realty stocks.
At the close, the Sensex was up 509.73 points, or 0.69 per cent, at 74,616.58, while the Nifty gained 155.40 points, or 0.68 per cent, to settle at 23,123.65. The Nifty midcap index rose 0.2 per cent, while the small-cap index ended flat.
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The overall market capitalisation of firms listed on the BSE rose to slightly over Rs 429 lakh crore, up from Rs 427.5 lakh crore in the previous session.
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Among sectors, all indices ended in the green except Consumer Durables and PSU Bank. The Information Technology index rose 2.5 per cent, the Metal index gained 1.5 per cent, and the Realty index was up 1.7 per cent, while Media, Private Bank, and Oil & Gas indices gained between 0.5 per cent and 1 per cent.
IT stocks advanced on expectations of a better-than-anticipated March quarter. Key gainers included Mphasis, Wipro, HCL Technologies, and LTIMindtree, which rose by up to 4 per cent.
On the Nifty, the top gainers were Wipro, Hindalco Industries, HCL Technologies, TCS, and Infosys. Major losers included Dr Reddy’s Laboratories, Adani Enterprises, InterGlobe Aviation, Apollo Hospitals, and M&M.
Among stock-specific movements, Fino Payments Bank rallied 2 per cent, Titagarh Rail Systems surged over 7 per cent, and NMDC Steel gained 5 per cent. Meanwhile, Vedanta, Jindal Steel, Hindustan Zinc, NMDC Steel, and Welspun Corp rose over 2 per cent.
Jewellery companies witnessed strong momentum, with key stocks such as PC Jeweller, Kalyan Jewellers and Senco Gold recording gains of up to 10 per cent, driven by upbeat quarterly results and supportive trends in precious metal prices.
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