Nifty and Sensex Close Marginally Higher Amid Mixed Sectoral Performance
Indian markets closed positively with Nifty at 24,715.05 (+0.08%) and Sensex at 80,567.71 (+0.19%). Castings, Forgings & Fasteners led gains (+7.35%), while Cables sector declined (-2.62%). Notable corporate news included Reliance Jio's 500 million user milestone and BHEL's Rs 26 billion power project. Market breadth was negative with 2,542 declining stocks versus 1,943 advancing.
*this image is generated using AI for illustrative purposes only.
Market Wrap: Nifty and Sensex End in Green
The Indian stock markets concluded Thursday's trading session on a positive note, with both benchmark indices registering modest gains. The day saw mixed sectoral performance and several notable corporate developments.
Market Overview
The NSE Nifty 50 closed at 24,715.05, up by 19.25 points or 0.08%. Similarly, the BSE Sensex finished at 80,567.71, gaining 150.30 points or 0.19%. The market showed resilience despite a mixed breadth, indicating a cautious sentiment among investors.
Sectoral Performance
The day witnessed a stark contrast in sector-wise performance:
Top Performing Sectors
- Castings, Forgings & Fasteners (+7.35%)
- Printing & Stationery (+4.83%)
- Trading (+3.97%)
Top Losing Sectors
- Cables (-2.62%)
- Diamond, Gems and Jewellery (-2.47%)
- Aviation (-1.48%)
- Aerospace & Defense (-1.31%)
Buzzing Stocks
Several companies made headlines during the trading session:
Reliance Industries: Executed a block trade of approximately 367,384 shares at Rs. 1,364.20 per share. Reliance Jio also celebrated reaching 500 million users within 9 years of operations.
Tata Motors: Jaguar Land Rover reported a decline in UK sales for August, with 2,284 units sold compared to 2,618 in the same period last year.
BHEL: Received a Letter of Intent from MB Power for an 800 MW power project valued at approximately Rs 26 billion. DRDO also handed over the production of high-strength radomes to BHEL's Jagdishpur facility.
Commercial Syn Bags: Approved re-appointment of key directors and recommended a dividend of Rs 0.40 per equity share for FY 2024-25.
Ashok Leyland: Announced participation in the Bank of America Asia Pacific Conference in Hong Kong.
Rolex Rings: Board approved a 1:10 equity share split, subject to shareholder approval.
Maruti Suzuki: Outlined plans for SUV market expansion and export growth to over 100 countries.
RateGain Travel Tech: Reported success of its AI pricing solution for Payless Costa Rica, resulting in significant booking and revenue growth.
Market Breadth
The overall market breadth leaned negative:
| Category | Number of Scrips |
|---|---|
| Total Traded | 4,485 |
| Positive | 1,943 |
| Negative | 2,542 |
Conclusion
The Indian stock markets closed marginally higher, with the Nifty 50 and Sensex both registering slight gains. While some sectors like Castings and Printing showed strong performance, others such as Cables and Jewellery faced headwinds. The day was marked by significant corporate announcements across various industries, reflecting the dynamic nature of the Indian equity market.
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