NewsMarketsMarket Wrap: Nifty Edges Lower, Sensex Closes Flat as Packaging and Aviation Sectors DragMarket Wrap: Nifty Edges Lower, Sensex Closes Flat as Packaging and Aviation Sectors Drag
By ScanX News Team
Indian markets closed mixed on Monday, with Nifty 50 down 0.03% and Sensex up 0.01%. Diamond, Gems and Jewellery sector outperformed, gaining 10.69%. Jaiprakash Power Ventures surged 20% amid block trades and positive AGM sentiment. Market breadth leaned negative with 2,585 declining stocks versus 1,859 advancing.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets concluded Monday's trading session on a mixed note, with the NSE Nifty 50 closing marginally lower while the BSE Sensex managed to eke out slight gains. The Nifty 50 ended at 25,461.00, down 6.65 points or 0.03%, while the Sensex closed at 83,432.89, up 9.61 points or 0.01%.
Sectoral Performance
The market witnessed a divergence in sector performance, with some sectors facing significant pressure while others showed resilience.
Top Losing Sectors:
| Sector | Avg. Percentage Change |
|---|---|
| Packaging | -2.80% |
| Aviation | -2.69% |
| Capital Goods - Electrical Equipment | -2.51% |
| Engineering Services | -1.99% |
| Education | -1.68% |
Top Performing Sectors:
| Sector | Avg. Percentage Change |
|---|---|
| Diamond, Gems and Jewellery | 10.69% |
| Cables | 3.95% |
| Telecomm Equipment & Infra Services | 1.65% |
| Power | 0.71% |
| Healthcare Services | 0.68% |
The Diamond, Gems and Jewellery sector emerged as the standout performer, registering an impressive average gain of 10.69%.
Buzzing Stocks
Jaiprakash Power Ventures Ltd. was in the spotlight today, with its shares surging 20% to close at Rs 22.74. The company's stock saw significant activity:
- A block trade of approximately 22.35 million shares worth Rs 50.74 crores was executed at Rs 22.70 per share on the NSE.
- The company recently held its 30th AGM, which was well-received by investors.
- Technical indicators show strong bullish momentum, with the stock's RSI at 69.5 and trading above all key SMAs.
Market Breadth
The overall market breadth leaned negative, reflecting the day's mixed sentiment:
| Category | Number of Scrips |
|---|---|
| Total | 4,444 |
| Positive | 1,859 |
| Negative | 2,585 |
Conclusion
Monday's trading session ended with a slight divergence between the Nifty and Sensex, as sectoral performances varied widely. While the packaging and aviation sectors faced headwinds, the diamond and jewellery sector shone brightly. Jaiprakash Power Ventures Ltd. emerged as a notable gainer, driven by positive AGM outcomes and strong technical indicators. The market breadth, however, remained tilted towards the negative, suggesting a cautious overall sentiment among investors.
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