News Markets Markets at Noon: Nifty and Sensex Slip as Commercial Services and Energy Sectors Lead DeclineMarkets at Noon: Nifty and Sensex Slip as Commercial Services and Energy Sectors Lead Decline
Indian stock markets are trading in negative territory at midday, with Nifty 50 down 0.70% and BSE Sensex falling 0.58%. Commercial Services and Energy sectors lead the decline, dropping over 19% each. Trading and Castings, Forgings & Fasteners sectors show resilience with slight gains. Buzzing stocks include Sammaan Capital, RBL Bank, and Federal Bank. Overall market sentiment remains negative, with losing sectors outnumbering gainers.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets are trading in negative territory at midday, with both benchmark indices showing significant declines. The Nifty 50 is down 0.70% at 25,317.00, while the BSE Sensex has fallen 0.58% to 81,770.26.
Sectoral Performance
The market is experiencing a broad-based selloff, with several key sectors facing pressure:
| Top Losing Sectors | Avg. Percentage Change |
|---|---|
| Commercial Services | -20.26% |
| Energy | -19.28% |
| Forest Materials | -14.87% |
| Financial Services | -14.75% |
| FMCG | -14.30% |
On the positive side, a few sectors are showing resilience:
| Top Performing Sectors | Avg. Percentage Change |
|---|---|
| Trading | 1.46% |
| Castings, Forgings & Fasteners | 0.60% |
Buzzing Stocks
Several stocks are making headlines today:
Sammaan Capital Limited
The company has successfully paid monthly interest on four series of secured redeemable non-convertible debentures worth ₹6.26 lacs, one day ahead of the due date. Additionally, they have allotted 7,000 secured non-convertible debentures worth ₹70 crore.
RBL Bank
The bank has allotted 2,35,707 equity shares to employees under its ESOP scheme, increasing its paid-up share capital.
Signet Industries Limited
Promoter Saurabh Sangla has increased his stake in the company by purchasing 500 equity shares from the open market.
Indian Railway Finance Corporation Limited
The company has scheduled a board meeting for March 09 to consider the declaration of a second interim dividend for the current financial year.
Vesuvius India Limited
The company has announced the appointment of four senior management personnel and approved the appointment of a new Cost Auditor for the next Financial Year.
John Cockerill India Limited
The company reported a net profit of ₹10.31 crores for the previous financial year, compared to a loss in the year before, and has recommended a final dividend.
Federal Bank
The bank is facing potential borderline inclusion in the MSCI February rejig, with a decision expected later today. It has also been assigned an ESG rating of 78 by NSE Sustainability Ratings & Analytics.
Market Breadth
The overall market sentiment remains negative, with losing sectors outnumbering gaining ones. The Trading and Castings, Forgings & Fasteners sectors are the only ones showing positive movement amidst the broader market decline.
Conclusion
As the trading session progresses, investors are closely watching the performance of key sectors and individual stocks. The significant declines in Commercial Services and Energy sectors are weighing heavily on the market, while a few pockets of strength in Trading and Manufacturing-related sectors provide some balance.
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