October 24, 2024
New Delhi, India
Stock Market Today
The Indian stock market wrapped up Thursday’s session with mixed results, as benchmark indices BSE Sensex and NSE Nifty50 closed on a flat note, leaning towards a slight negative bias.
- The BSE Sensex dipped marginally, closing at 80,065.16, down by 16.82 points or 0.02% from its previous close.
- The NSE Nifty50 dropped by 36.10 points or 0.15%, settling at 24,399.40.
Key Performers:
- Nifty50 Constituents: Out of 50 constituent stocks, 26 ended in the green, led by notable performers such as Ultratech Cement, Shriram Finance, Grasim, Titan, and Mahindra & Mahindra, with gains reaching up to 2.66%.
- On the downside, Hindustan Unilever, SBI Life Insurance, Hindalco, Nestle India, and Bajaj Auto were among the 24 stocks that saw declines, with losses extending up to 5.81%.
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Sectoral Performance:
- The Nifty FMCG index was the worst performer, down 2.83%, weighed down by sharp declines in Hindustan Unilever, Colgate Palmolive, and Marico.
- Other sectoral indices like Nifty Realty, IT, Media, Metal, and Consumer Durables also ended in the red.
- In contrast, Nifty PSU Bank index emerged as the top gainer, up 1.22%, followed by gains in Bank Nifty, Private Bank, Financial Services, and Healthcare indices.
Market Sentiment:
- Thursday’s session marked the fourth consecutive session of declines for the Sensex, as the market struggled with foreign outflows and tepid corporate earnings.
- Hindustan Unilever faced a significant setback, tumbling nearly 5% after posting disappointing Q2 results. Similarly, Hindalco was under pressure due to a weak demand outlook.
- On a brighter note, Adani Total gained 8%, helping cushion some of the broader market weakness.
Broader Indices:
- The Nifty Midcap100 and Nifty Smallcap100 indices also closed lower, down 0.33% and 0.20% respectively.
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