Market Closure: Sensex and Nifty drop lower, Tata Consumer and Kotak Mahindra Bank top losers
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The Indian stock market closed in red on Monday as IT and PSU banks remained under pressure at the end of trading.
The BSE Sensex closed at 81,151.27 after slipping 73.48 points or 0.09 per cent.
At the same time, the NSE Nifty closed at 24,781.10 after falling 72.95 points or 0.29 per cent. The Nifty Midcap 100 index closed in red at 57,677.70 after slipping 971.45 points or 1.66 per cent. The closed at 18,797.40 after falling 280.40 points or 1.47 per cent.
Nifty Bank closed at 51962.70 after falling 131.50 points or 0.25 per cent. Except for the auto and fin services sectors of Nifty, selling was seen in IT, PSU bank, pharma, FMCG, metal, realty, media, energy, private bank, infra, and commodities sectors.
The market trend remained negative. On the Bombay Stock Exchange (BSE), 1,133 stocks were trading in the green, 2,900 stocks in the red, and 142 stocks closed without any change.
Nifty’s top gainers included Bajaj Auto, HDFC Bank, Asian Paints, M&M, and Eicher Motors. Tata Consumer, Kotak Mahindra Bank, Bajaj Finserv, BPCL and IndusInd Bank were the top losers.
Kotak Bank, Bajaj Finserv, IndusInd Bank, Bajaj Finance, UltraTech Cement, Infosys, and TCS were the top losers in the Sensex pack. HDFC Bank, Asian Paints, M&M, Maruti, and Tech Mahindra were the top gainers.
According to market experts, the domestic market displayed considerable volatility, with key indices swinging between negative and positive terrain. Concurrently, domestic Q2 earnings have been mostly underwhelming, with major private sector banks notably disappointing, they said. However, DIIs have offered some support, mitigating the market’s decline, they added.
The Indian stock market opened in green on Monday in morning trade as buying was seen in the auto, IT and PSU bank sectors. The Sensex was trading at 81,653.83 after gaining 429.08 points or 0.53 per cent. Nifty opened at 24,955.50 after climbing 101.45 points or 0.41 per cent.
(With inputs from IANS)
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