Market Wrap: Nifty and Sensex Close in Red Amid Sectoral Shifts
By ScanX News Team
Indian stock markets ended negative with Nifty 50 down 0.63% at 24,680.75 and Sensex falling 0.70% to 80,891.02. Cables sector led gains (+2.54%), while Trading sector faced maximum pressure (-3.16%). Market breadth was bearish with 3,064 declines vs 1,445 advances. Quarterly results drove significant stock movements, with Paras Defence and TV Today Network among top losers, while Acme Solar and Jagsonpal Pharma were top gainers.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets closed on a negative note on Monday, with both benchmark indices ending in the red. The Nifty 50 closed at 24,680.75, down 156.25 points or 0.63% from its previous close. Similarly, the BSE Sensex ended at 80,891.02, shedding 572.07 points or 0.70%.
Sectoral Performance
The market witnessed a mixed bag of sectoral performances, with some sectors showing resilience while others faced significant pressure.
Top Performing Sectors:
- Cables (+2.54%)
- Diamond, Gems and Jewellery (+1.27%)
- Printing & Stationery (+0.17%)
Top Losing Sectors:
- Trading (-3.16%)
- Castings, Forgings & Fasteners (-3.02%)
- Transport (-2.39%)
- Engineering Services (-2.32%)
- Logistics & Cargo (-2.31%)
Buzzing Stocks
Several stocks made headlines due to their quarterly results and market movements:
Paras Defence and Space Technologies: Shares plummeted 10% to Rs 704.70 following a 25% drop in Q1 net profit and a 14% decrease in revenue.
TV Today Network: The stock declined 9.72% to Rs 153.65 after reporting a significant drop in Q1 net profit and revenue.
Dhampur Bio Organics: Shares fell 9.40% to Rs 80.10 as the company swung to a net loss despite revenue growth.
Acme Solar Holdings: The stock surged 9.45% to Rs 296.00 on the back of strong Q1 results, with net profit soaring to Rs 1.30 billion.
Jagsonpal Pharmaceuticals: Shares rose 9.31% to Rs 287.80 following a substantial increase in Q1 net profit and revenue.
CarTrade Tech: The stock gained 8.25% to Rs 2,051.00 after reporting a 92% increase in Q1 net profit despite a decline in auction business activity.
Market Breadth
The overall market breadth was negative, indicating a bearish sentiment:
| Category | Number of Scrips |
|---|---|
| Total Traded | 4,509 |
| Advances | 1,445 |
| Declines | 3,064 |
Conclusion
The Indian stock market ended the day on a subdued note, with both Nifty and Sensex closing lower. While sectors like Cables and Diamond, Gems and Jewellery showed strength, the Trading and Manufacturing sectors faced significant pressure. The market breadth remained negative, with declines outnumbering advances by a considerable margin. Quarterly results continued to be a key driver for individual stock performances, leading to significant movements in both directions.
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