Nifty and Sensex Close Marginally Higher Amid Mixed Sectoral Performance
By ScanX News Team
Indian markets closed marginally positive with Nifty up 0.10% at 24,821.10 and Sensex gaining 0.17% to 81,337.95. Insurance sector led gains with a 2.58% increase, while engineering services declined 1.02%. Bliss GVS Pharma surged 19.35% on strong profits, but Redington fell 7.95% despite revenue growth. Market breadth was slightly negative with 2,194 declines vs 2,174 advances out of 4,368 traded stocks.
*this image is generated using AI for illustrative purposes only.
Market Wrap: Nifty and Sensex End in Green
The Indian stock markets concluded Wednesday's trading session on a positive note, with both benchmark indices registering modest gains. The day saw mixed sectoral performance, with insurance and consumer services leading the gains while engineering services and logistics faced headwinds.
Market Overview
The NSE Nifty 50 closed at 24,821.10, up by 25.85 points or 0.10%. The index touched an intraday high of 24,846.95. Similarly, the BSE Sensex ended the day at 81,337.95, gaining 140.79 points or 0.17%, after reaching a peak of 81,478.74 during the session.
Sectoral Performance
Top Performing Sectors
- Insurance (Avg. Per Change: +2.58%)
- Consumer Services (Avg. Per Change: +0.90%)
- Diamond, Gems and Jewellery (Avg. Per Change: +0.79%)
Underperforming Sectors
- Engineering Services (Avg. Per Change: -1.02%)
- Logistics & Cargo (Avg. Per Change: -0.98%)
- Diversified (Avg. Per Change: -0.84%)
- Power (Avg. Per Change: -0.81%)
Buzzing Stocks
Several stocks made headlines during the trading session:
Bliss GVS Pharma Ltd: Emerged as a top gainer, surging 19.35% to close at ₹185.62. The company reported a significant increase in quarterly net profit to ₹430 million, up from ₹207 million year-over-year.
The New India Assurance Co Ltd: Witnessed a strong uptick of 16.82%, closing at ₹202.70. The insurer reported an 80% increase in profit after tax to ₹391 crores for Q1.
Redington Ltd: Despite reporting strong Q1 revenue growth, the stock plummeted 7.95% to ₹265.00, possibly due to margin pressures.
Birla Corporation Ltd: Fell 7.20% to ₹1,404.00 despite reporting a significant jump in quarterly net profit to ₹1.2 billion.
MOIL Ltd: Declined 6.63% to ₹345.00 following a decrease in Q1 revenue and profitability.
Market Breadth
The overall market breadth was slightly negative:
| Category | Number of Scrips |
|---|---|
| Total Traded | 4,368 |
| Advances | 2,174 |
| Declines | 2,194 |
Conclusion
The Indian markets closed marginally higher, with the insurance sector leading the gains. While some stocks like Bliss GVS Pharma and New India Assurance saw significant upticks, others like Redington and Birla Corporation faced selling pressure despite positive financial results. The mixed sectoral performance and nearly balanced market breadth reflect the day's cautious trading sentiment.
16
