Market Wrap: Sensex, Nifty End in Red as Energy and FMCG Sectors Drag
Indian stock markets ended negative on September 19, with Sensex down 0.47% and Nifty shedding 0.38%. Cables sector outperformed with a 7.51% gain, while Diamond, Gems and Jewellery sector was the top loser. Notable corporate developments included Vedanta's clarification on investigations, TCS's integration of NVIDIA technology, and JSW Energy's acquisition of Tidong Power. Market breadth remained slightly positive with 2,280 advances against 2,227 declines out of 4,507 traded scrips.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets closed in negative territory on September 19, with both benchmark indices, Sensex and Nifty, witnessing a decline. The BSE Sensex ended the day at 82,626.23, down 387.73 points or 0.47% from its previous close. Similarly, the NSE Nifty 50 closed at 25,327.05, shedding 96.55 points or 0.38%.
Sectoral Performance
The market saw a mixed bag of sector-wise performance, with some sectors showing strength while others faced selling pressure.
Top Performing Sectors:
- Cables (Avg. Per Change: +7.51%)
- Power (Avg. Per Change: +1.03%)
- Aerospace & Defense (Avg. Per Change: +1.02%)
- Realty (Avg. Per Change: +0.87%)
Top Losing Sectors:
- Diamond, Gems and Jewellery (Avg. Per Change: -6.99%)
- Energy (Avg. Per Change: -0.42%)
- FMCG (Avg. Per Change: -0.38%)
- Diversified (Avg. Per Change: -0.37%)
Buzzing Stocks
Several stocks made headlines during the trading session:
Vedanta Ltd: The company clarified that there is no ongoing investigation involving them and they have not been contacted by Singapore police authorities.
Tata Consultancy Services: TCS integrated NVIDIA accelerated computing into its retail products and solutions, potentially helping retailers save up to 75% in operational costs.
Le Travenues Technology (Ixigo): Shares jumped over 3% after Jefferies' Global Head of Equity Strategy added the company to his India long-only portfolio.
Oil India: Entered into an agreement with HCL to collaborate on exploring and developing minerals, focusing on copper and related resources.
JSW Energy: Signed a definitive agreement to acquire Tidong Power Generation Private Limited for ₹1,728 crores, which includes a 150 MW under-construction hydro power project.
L&T: Won a significant contract valued between ₹10 billion to ₹25 billion.
Market Breadth
The overall market breadth was slightly positive, indicating a balanced sentiment among investors:
| Category | Number of Scrips |
|---|---|
| Total Traded | 4,507 |
| Advances | 2,280 |
| Declines | 2,227 |
Conclusion
In summary, the Indian stock markets ended the day on a negative note, with the Sensex and Nifty both closing lower. While sectors like Cables and Power showed strength, Diamond, Gems and Jewellery, along with Energy and FMCG sectors, faced selling pressure. The market breadth remained marginally positive, suggesting a mixed sentiment among investors as they digested various corporate developments and sector-specific news.
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