Market Wrap: Nifty and Sensex Slip as Cables and Jewellery Sectors Drag
By ScanX News Team
Indian stock markets ended negative with Nifty 50 down 0.57% at 25,111.45 and BSE Sensex down 0.61% at 82,259.24. Cables and Diamond sectors were top losers, while Utilities and Metals showed strength. Notable stocks included Samvardhana Motherson (-34.38%) and GMDC (+14.73%). Market breadth was negative with 2,543 declines vs 1,872 advances out of 4,415 traded scrips.
*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 index closed at 25,111.45, down 143.05 points or 0.57%, while the BSE Sensex ended at 82,259.24, shedding 501.51 points or 0.61%.
Sectoral Performance
The market witnessed a mixed performance across sectors:
Top Losing Sectors:
- Cables (-3.92%)
- Diamond, Gems and Jewellery (-2.84%)
- Aerospace & Defense (-1.17%)
Top Performing Sectors:
- Utilities (+1.60%)
- Metals & Mining (+0.72%)
- Printing & Stationery (+0.61%)
- Beverages (+0.45%)
Buzzing Stocks
Several stocks made headlines during the trading session:
Samvardhana Motherson International Ltd.: The stock plummeted 34.38% to close at ₹100.97. The company announced a 1:2 bonus issue, with shares set to trade ex-bonus.
MPS Ltd: Shares fell 15.73% to ₹2,444.30 following Q1 results. Despite a 40% increase in net profit to ₹35 crore, revenue growth was modest at 2.9% YoY.
Clean Science and Technology: The stock declined 8.80% to ₹1,318.00 after Q1 results and revised EBITDA growth guidance.
Newgen Software Technologies: Shares dropped 6.14% to ₹962.60 following disappointing Q1 earnings.
Gujarat Mineral Development Corporation (GMDC): The stock surged 14.73% to ₹435.30 amid news of an upcoming PMO meeting on rare earth magnets.
Garuda Construction and Engineering: Shares jumped 12.38% to ₹168.68 after reporting strong Q1 financial results.
Market Breadth
The overall market breadth was negative:
| Category | Number of Scrips |
|---|---|
| Total Traded | 4,415 |
| Advances | 1,872 |
| Declines | 2,543 |
Conclusion
The Indian stock market closed lower, with the Nifty 50 and BSE Sensex both declining by over 0.5%. The Cables and Diamond, Gems and Jewellery sectors were the top losers, while Utilities and Metals & Mining sectors showed resilience. The market breadth remained negative, with more stocks declining than advancing during the session.
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