Markets at Noon: Nifty and Sensex Dip as Cables Sector Leads Losses
By ScanX News Team
Indian markets trade negative at midday with Nifty at 24,951.80 (-0.64%) and Sensex at 81,712.77 (-0.66%). Utilities sector leads gains (+1.63%), while Cables sector faces maximum pressure (-1.45%). Buzzing stocks include Samvardhana Motherson (ex-bonus), Clean Science (Q1 results), Garuda Construction (strong Q1), Vimta Labs (positive Q1), and Tatva Chintan (stake acquisition). Overall market breadth appears negative.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets are trading in negative territory at midday. The Nifty 50 index is currently at 24,951.80, down 159.65 points or 0.64% from its previous close. Similarly, the BSE Sensex stands at 81,712.77, showing a decline of 546.47 points or 0.66%.
Sectoral Performance
The market is witnessing mixed sectoral performance:
Top Losing Sectors
| Sector | Average Change |
|---|---|
| Cables | -1.45% |
| Diamond, Gems and Jewellery | -1.27% |
Top Performing Sectors
| Sector | Average Change |
|---|---|
| Utilities | 1.63% |
| Trading | 0.81% |
| Engineering Services | 0.56% |
| Food Products | 0.35% |
Buzzing Stocks
Several stocks are making headlines in today's trading session:
Samvardhana Motherson International Ltd: The stock is trading ex-bonus today, with a 1:2 bonus issue. Shareholders as of yesterday's close will receive one bonus share for every two shares owned. The stock is currently trading at ₹101.29, down 34.17%.
Clean Science and Technology: Shares fell 7.48% to ₹1,337.10 following Q1 results and management's revised EBITDA growth guidance. The company reported an 8% YoY increase in Q1 revenue to ₹240 crore, with EBITDA up 5% YoY.
Garuda Construction: The stock surged 18.53% to ₹177.91 after announcing strong Q1 results. Revenue increased to ₹1.25 billion from ₹351.2 million YoY, while net profit reached ₹280 million, up from ₹86 million in the previous year.
Vimta Labs: Shares are up 11.20% to ₹518.15 following positive Q1 results. The company reported a net profit of ₹189 million, up from ₹140 million YoY, and revenue growth to ₹976 million from ₹747 million YoY.
Tatva Chintan Pharma Chem: The stock jumped 10.65% to ₹1,034.15 after prominent investor Mukul Agrawal acquired a 1.28% stake in the company.
Market Breadth
The overall market breadth appears to be negative, with more stocks declining than advancing. However, specific data on the number of advancing and declining stocks is not available at this time.
Conclusion
As the trading day progresses, the Indian markets are showing a downward trend, with both the Nifty and Sensex in the red. While sectors like Utilities and Trading are showing strength, Cables and Diamond, Gems and Jewellery sectors are facing pressure. Investors are closely watching the performance of individual stocks, particularly those with significant news or earnings reports.
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