Markets at Noon: Sensex and Nifty Dip as Insurance Sector Takes a Hit
By ScanX News Team
Indian markets are trading in negative territory at midday on June 2, with Nifty 50 down 0.41% at 24,648.85 and Sensex falling 0.44% to 81,091.61. Sectoral performance is mixed, with Banks (+2.21%) and Forest Materials (+1.19%) leading gains, while Cables (-4.23%) and Engineering Services (-2.18%) are top losers. Niva Bupa Health Insurance plunged 9.20% following a block deal, while AstraZeneca Pharma India surged 11.26% on strong Q4 results.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets are trading in negative territory at midday on June 2, 2025, with both benchmark indices showing declines. The NSE Nifty 50 is currently at 24,648.85, down 101.85 points or 0.41% from its previous close. Similarly, the BSE Sensex stands at 81,091.61, registering a fall of 359.40 points or 0.44%.
Sectoral Performance
The market is witnessing a mixed bag of sectoral performances. The top losing sectors are:
| Sector | Change (%) |
|---|---|
| Cables | -4.23 |
| Engineering Services | -2.18 |
| Insurance | -0.93 |
| Diversified | -0.93 |
| Utilities | -0.81 |
On the flip side, the top-performing sectors are:
| Sector | Change (%) |
|---|---|
| Banks | 2.21 |
| Forest Materials | 1.19 |
Buzzing Stocks
Niva Bupa Health Insurance
Niva Bupa Health Insurance shares have plummeted by 9.20%, trading at ₹83.80. The sharp decline follows a block deal worth ₹391 crore involving 56 lakh shares. Reports suggest that Fettle Tone and Krishnan Ramchandra are potentially selling a 7.2% stake at ₹82 per share, an 11% discount to Friday's closing price. Despite recently reporting a 31.2% increase in Q4 net profit, the company saw declines in underwriting and operating profits.
AstraZeneca Pharma India
AstraZeneca Pharma India is trading 11.26% higher at ₹8,869.50 following impressive Q4 results. The company reported a 47.7% YoY increase in net profit to ₹58.2 crore. Revenue rose 25.4% to ₹480.4 crore, while EBITDA jumped 75% to ₹86 crore. The EBITDA margin improved by over 500 basis points to 17.96%.
Conclusion
As the trading day progresses, the market sentiment remains cautious with major indices in the red. The insurance sector faces pressure, particularly evident in Niva Bupa's performance. However, strong results from companies like AstraZeneca Pharma India are providing some positive momentum in specific counters.
16
