Markets at Noon: Nifty and Sensex Slip as Gems & Jewellery Sector Weighs Heavy
Indian markets show a downward trend at midday on September 19, with Nifty 50 down 0.50% and BSE Sensex declining 0.57%. Diamond, Gems and Jewellery sector leads losses at -1.94%, while Cables sector tops gainers at 1.99%. Buzzing stocks include Spectra Industries, Vedanta, Maruti Suzuki, TCS, Godawari Power & Ispat, Yes Bank, JSW Energy, and Gayatri Projects, driven by various corporate actions and regulatory developments.
*this image is generated using AI for illustrative purposes only.
Market Overview
As the clock strikes noon on September 19, Indian markets are showing a downward trend. The Nifty 50 is currently trading at 25,297.30, down 126.30 points or 0.50% from its previous close. Similarly, the BSE Sensex stands at 82,541.24, registering a decline of 472.72 points or 0.57%.
Sectoral Performance
The market's negative sentiment is reflected in the performance of various sectors:
Top Losing Sectors:
| Sector | Change (%) |
|---|---|
| Diamond, Gems and Jewellery | -1.94 |
| Diversified | -0.44 |
| Beverages | -0.37 |
| Healthcare Services | -0.37 |
| Energy | -0.36 |
Top Performing Sectors:
| Sector | Change (%) |
|---|---|
| Cables | 1.99 |
| Aerospace & Defense | 0.83 |
| Telecom | 0.71 |
| Information Technology | 0.60 |
Buzzing Stocks
Several stocks are making headlines in today's trading session:
Spectra Industries Ltd: The company's Committee of Creditors approved an extension of the Corporate Insolvency Resolution Process in a recent meeting.
Vedanta Ltd: Declared as the preferred bidder for the Punnam Manganese Block in Andhra Pradesh, subject to fulfilling various conditions.
Maruti Suzuki Ltd: The NCLAT has set November 17 as the next hearing date for the company's case involving the Competition Commission of India.
Tata Consultancy Services: Witnessed a significant block trade on NSE involving 234,219 shares at Rs. 3,158.50 per share, totaling Rs. 73.98 crores.
Godawari Power & Ispat Ltd: Issued a corrigendum to correct investor names in their preferential issue of convertible warrants.
Yes Bank Ltd: Appointed Shinichiro Nishino as an Additional Director to its board. The bank is also involved in an ongoing CBI investigation regarding alleged fraudulent transactions.
JSW Energy Ltd: Its subsidiary, JSW Neo Energy Limited, signed an agreement to acquire Tidong Power Generation Private Limited for Rs. 1,728 crores.
Gayatri Projects: The NCLT Hyderabad bench approved a Rs. 2,400 crore one-time settlement plan to resolve Rs. 8,100 crore dues to lenders.
Conclusion
As the trading day progresses, the market shows a bearish trend with both benchmark indices in the red. The Diamond, Gems and Jewellery sector is the biggest loser, while Cables lead the gainers. Investors are keeping a close watch on the buzzing stocks and their potential impact on overall market sentiment.
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