Home Stock Market Indian Stock Market Closes Lower Amidst Sectoral Declines

Indian Stock Market Closes Lower Amidst Sectoral Declines

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The Indian stock market encountered a downward trajectory at the end of the week, as losses in key sectors such as Healthcare, Banking, and Fast Moving Consumer Goods (FMCG) weighed down on shares’ performance.

By the close of trading on the National Stock Exchange (NSE), the Nifty 50 index saw a decline of 0.59%. Similarly, the BSE Sensex 30 index ended with a drop of 0.56%.

Among the top-performing companies within the Nifty 50 during the session, HCL Technologies Ltd (NS:HCLT) stood out, experiencing a rise of 3.28% or 37.15 points to reach 1,171.45 by the end of trading. Additionally, Power Grid Corporation of India Ltd (NS:PGRD) contributed to gains by adding 1.03% or 2.50 points, closing at 244.30. Titan Company Ltd (NS:TITN) also performed well, gaining 0.96% or 28.70 points to end late trading at 3,017.25.

However, the session saw its share of decliners. IndusInd Bank Ltd. (NS:INBK) faced a decline of 2.30% or 32.95 points, closing at 1,397.25. NTPC Ltd (NS:NTPC) dropped 1.93% or 4.20 points, ending at 213.20, while Divi’s Laboratories Ltd. (NS:DIVI) declined by 1.77% or 66.35 points, reaching 3,679.15.

Turning to the BSE Sensex 30, the top gainers included HCL Technologies Ltd (BO:HCLT), which saw a rise of 3.24% and closed at 1,171.35. Power Grid Corporation of India Ltd (BO:PGRD) experienced a gain of 0.95%, settling at 244.30, and Titan Company Ltd (BO:TITN) closed with an 0.88% increase at 3,015.85.

On the other hand, the worst-performing stocks on the BSE Sensex 30 included IndusInd Bank Ltd. (BO:INBK), which experienced a decline of 2.31% to 1,397.20 in late trading. NTPC Ltd (BO:NTPC) lost 2.02%, closing at 213.00, and Sun Pharmaceutical Industries Ltd. (BO:SUN) faced a decline of 1.59%, reaching 1,132.25 at the session’s close.

Market dynamics showed a greater number of falling stocks compared to advancing ones on the India National Stock Exchange, with 1205 declining and 784 advancing, while 57 stocks ended the session unchanged. Similarly, on the Bombay Stock Exchange, 1961 stocks fell and 1481 advanced, while 148 ended unchanged.

The India VIX, which gauges the implied volatility of Nifty 50 options, rose by 1.07% to 11.52.

In commodities trading, Gold Futures for December delivery experienced a slight increase of 0.08% or 1.65, reaching $1,950.55 per troy ounce. In the same vein, Crude oil for September delivery rose by 0.25%, adding 0.21 to hit $83.03 a barrel, while the October Brent oil contract increased by 0.30% or 0.26, trading at $86.66 a barrel.

Currency trading saw USD/INR facing a decline of 0.06% to 82.82, while EUR/INR rose by 0.15% to 91.06.

Lastly, the US Dollar Index Futures observed a minor increase of 0.01% at 102.37, reflecting the intricate dynamics of the global financial landscape.

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James Thorp

James T, a passionate crypto journalist from South Africa, explores Litecoin, Dash, & Bitcoin intricacies. Loves sharing insights. Enjoy his work? Donate to support! Dash: XrD3ZdZAebm988BfHr1vqZZu6amSGuKR5F

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