Market Wrap: Nifty and Sensex Close in Red as Energy Sector Leads Decline
Indian stock markets ended negative with Nifty 50 down 0.37% at 25,795.15 and Sensex down 0.41% at 84,211.88. Energy sector led losses (-12.58%), while aviation showed gains (1.79%). Market breadth was negative with 2,510 declining stocks out of 4,524 traded. Reliance Industries approved a 1:1 bonus issue, while SBI received global awards. Infosys declared an interim dividend, and Cipla signed a marketing agreement with Eli Lilly.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets ended the trading session on a negative note, with both benchmark indices, Nifty 50 and BSE Sensex, closing in the red. The Nifty 50 closed at 25,795.15, down 96.25 points or 0.37% from the previous close. Similarly, the BSE Sensex ended at 84,211.88, registering a decline of 344.52 points or 0.41%.
Sectoral Performance
The energy sector led the decline, with other sectors such as commercial services and leisure services also facing significant losses. However, some sectors managed to buck the trend and post gains.
| Top Losing Sectors | Avg. Percentage Change |
|---|---|
| Energy | -12.58% |
| Commercial Services | -10.57% |
| Leisure Services | -7.78% |
| Textiles | -6.24% |
| Healthcare Services | -6.05% |
| Top Performing Sectors | Avg. Percentage Change |
|---|---|
| Aviation | 1.79% |
| Engineering Services | 1.39% |
| Aerospace & Defense | 0.51% |
Buzzing Stocks
Several stocks made headlines during the trading session:
Reliance Industries: The company's board approved a 1:1 bonus issue, described as the largest in Indian equity markets. They also increased authorized share capital and appointed three new non-executive directors.
State Bank of India: SBI received two prestigious awards from Global Finance, New York - World's Best Consumer Bank and Best Bank in India.
Infosys: The company declared an interim dividend of Rs 23 per share with October 26 as the last day for investors to qualify for the payout.
Cipla: Signed a marketing and distribution agreement with Eli Lilly to launch Yurpeak, a second brand of tirzepatide in India.
L&T: Secured multiple large orders in the Minerals & Metals business vertical, including contracts from Hindalco and Tata Steel.
Hindustan Unilever: Shares declined nearly 5% after quarterly results, impacted by trade destocking across the supply chain.
Federal Bank: Approved the issuance of up to 27.3 crore warrants to Asia II Topco XIII Pte. Ltd. through preferential allotment for Rs 6,197 crore.
Market Breadth
The overall market breadth was negative, with more stocks declining than advancing.
| Category | Number of Scrips |
|---|---|
| Total Traded | 4,524 |
| Positive | 2,014 |
| Negative | 2,510 |
Conclusion
The Indian stock market ended the day on a bearish note, with the energy sector leading the decline. Despite the overall negative trend, some sectors like aviation and engineering services managed to post gains. Investors may want to monitor the developments of the buzzing stocks as they could potentially impact market sentiment in the coming sessions.
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