Market Wrap: Nifty and Sensex Close in Red as Engineering and Castings Sectors Drag
By ScanX News Team
Indian stock markets ended negative on Thursday, with Nifty 50 down 0.35% at 24,768.35 and BSE Sensex shedding 0.36% to 81,185.58. Cables and Diamond sectors outperformed, while Engineering Services struggled. Notable declines were seen in Faze Three Ltd (-10.55%) and Pearl Global Industries (-9.25%). Zuari Agro Chemicals surged 16.18%. Market breadth was bearish with 2,621 declining stocks versus 1,738 advancing out of 4,359 traded.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets closed on a negative note on Thursday, with both benchmark indices, Nifty 50 and BSE Sensex, ending in the red. The Nifty 50 closed at 24,768.35, down 86.70 points or 0.35% from its previous close. Similarly, the BSE Sensex ended the day at 81,185.58, shedding 296.28 points or 0.36%.
Sectoral Performance
The market witnessed a mixed bag of sectoral performances, with some sectors showing strength while others faced significant pressure.
Top Performing Sectors:
- Cables (Avg. Per Change: +3.41%)
- Diamond, Gems and Jewellery (Avg. Per Change: +2.63%)
- Consumer Services (Avg. Per Change: +0.54%)
- Forest Materials (Avg. Per Change: +0.40%)
Top Losing Sectors:
- Engineering Services (Avg. Per Change: -2.53%)
- Castings, Forgings & Fasteners (Avg. Per Change: -1.53%)
Buzzing Stocks
Several stocks made headlines during the trading session:
Faze Three Ltd: The stock plummeted 10.55% following the announcement of its inclusion in Dun & Bradstreet's publication and impressive financial growth over the years.
Pearl Global Industries Ltd: Shares tumbled 9.25% after the company's MD commented on the limited impact of proposed US tariff changes on their business.
Steelcast Ltd: The stock declined 8.96% despite reporting improved EBITDA for Q1 and declaring an interim dividend.
Cords Cable Industries Ltd: Shares fell 8.58% even after reporting increased revenue and profit for Q1.
Greenpanel Industries Ltd: The stock dropped 8.42% following news of GST intelligence searches at company premises.
Zuari Agro Chemicals Ltd: Bucking the trend, the stock surged 16.18% after reporting a significant increase in consolidated net profit for the quarter.
Market Breadth
The overall market breadth was negative, indicating a bearish sentiment:
| Category | Number of Scrips |
|---|---|
| Total Traded | 4,359 |
| Positive | 1,738 |
| Negative | 2,621 |
Conclusion
The Indian stock market ended the day on a subdued note, with key indices closing lower amid mixed sectoral performances. While sectors like Cables and Diamond, Gems and Jewellery showed strength, Engineering Services and Castings sectors faced significant pressure. The market breadth remained negative, with more stocks declining than advancing, reflecting the overall cautious sentiment among investors.
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