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 Thursday cut some of the gains in a highly volatile session. Profit-booking pulled the indices off their intraday highs as the Sensex slipped about 200 points from its peak, while the Nifty fell below 26,050 during the session.
The Sensex opened on a weak note, declining 156.83 points to 84,949.98, while the Nifty eased 47 points to 25,938.95.
Advertisement
At the close, the Sensex settled 158.51 points or 0.19% higher at 85,265.32, while the Nifty advanced to 26,033.75, down 47.75 points, or 0.18%.
Advertisement
The midcap and smallcap segments remained under pressure, with the BSE Midcap index falling 0.19% and the Smallcap index declining 0.32%.
Among the sectors, the Nifty IT index jumped 1.41%, ending as the top gainer.
The performance of IT was supported by optimism over a potential US Fed rate cut as well as favourable currency tailwinds.
Further, Nifty Bank clipped 0.10% to 59,288.70 while the consumer durables index declined 0.62% and the Media index crashed 1.45%.
On Nifty50, around 34 stocks ended in the green. The top gainers were Tech Mahindra (up 1.51%), HDFC Life Insurance Company (up 1.49%), and TCS (up 1.48%).
On the losing side, the top ones were InterGlobe Aviation (2.39%), Reliance Industries (0.88%), and Hindalco Industries (0.65%).
On the BSE, out of 4,302 stocks, 1,807 advanced, while 2,314 declined, and some 181 stocks remained unchanged.
Around 80 stocks rose to their 52-week highs, while 261 hit their 52-week lows in intraday trade on the BSE.
Those on the highs were Vedanta, Hero MotoCorp, and Asian Paints, and lows included Colgate Palmolive (India), IREDA, and Patanjali Foods.
Foreign Institutional Investors offloaded equities worth Rs 3,206.92 crore, marking the fifth straight session of outflows. The rupee fell 28 paise to a fresh low of 90.43 against the US dollar in early trade.
Investors remained cautious ahead of the RBI policy decision, with the Street expecting the central bank to maintain the status quo.
Advertisement
