Image Source : FILE Business stock exchange building
Indian stock markets experienced a day of mixed results as they closed with minor cuts. The BSE Sensex dipped by 16 points to settle at 64,942, while the Nifty 50 saw a decrease of 5 points, concluding at 19,407. In contrast, the broader markets exhibited resilience, closing with minor gains and outperforming the benchmark indices. The Nifty Bank observed a rise of 119 points, settling at 43,738, and the Midcap Index added 113 points to reach 40,050.
Notable fluctuations were observed in various stocks in response to their earnings reports. Alkem and Trent, buoyed by robust Q2 results, surged by 5-8%. In contrast, a decline in crude oil prices led to gains in Oil Marketing Companies (OMCs) such as BPCL, IOC, and HPCL, which climbed 2-6%.
Among the major losers on the Nifty were Hero MotoCorp, Coal India, Bajaj Finance, JSW Steel, and Divis Labs. On the positive side, gainers included Sun Pharma, BPCL, NTPC, Axis Bank, and Dr. Reddy’s Labs.
In terms of sectors, the healthcare and oil & gas sectors registered gains of 1% each, while the real estate sector saw a 1% decline. Investors continue to closely monitor these market movements, which reflect the ongoing dynamics in India’s financial landscape.
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