Stock market today: had a mixed day as the benchmark indices experienced minor fluctuations. While BSE Sensex fell by 131 points to end at 83,079.66, Nifty 50 gained 34.80 points or 0.14% from the previous day and closed at 25,418.55.
Initially, the market opened on a good note but selling pressure was evident as the day progressed especially in the IT sector which slid approximately 2.91%. On the other hand, some sectors like banking and automobile maintained their ground with Nifty Bank appreciating by 0.50%.
Among notable gainers was Bajaj Finance which rose by 2.62% to close at ₹7,558.70. There was no gains for Tech Mahindra which was the biggest loser going down by 3.17% to finish at ₹1,599.25 in nifty.
If Nifty stays above the 25,400 mark another rally may happen towards the 25,600 point level otherwise if it breaks below this line certain profit taking measures might occur. Immediate support levels stand at 25,200 whereas critical ones are around the 25000 mark.
Although there has been a recent pullback in indices today investor sentiment remains cautiously optimistic due to many sectors’ strong fundamentals along with expectations for a US Federal Reserve aided monetary policy in near future.
Market Performance
- Sensex: The BSE Sensex closed down by 131 points, ending at 83,079.66.
- Nifty: The Nifty 50 ended at 25,418.55, gaining 34.80 points or 0.14% from the previous day.
The market had a strong start to the day but experienced selling pressure as the day went on, especially in the IT sector, which saw a decline of about 2.91%. On the other hand, industries like banking and autos demonstrated resilience; Nifty Bank increased by 0.50%.
Stock market today: Top gainers
| Company Name | Price | Change |
| Gala Precision Engineering | ₹757.20 | +228.15 (43.1%) |
| Sonal Mercantile Ltd. | ₹114.60 | +19.10 (20.0%) |
| V R Films & Studios | ₹33.00 | +5.49 (20.0%) |
| Sarvottam Finvest Ltd. | ₹32.00 | +5.20 (19.4%) |
| Amco India Ltd. | ₹95.60 | +15.31 (19.1%) |
| Gravity (India) Ltd. | ₹5.30 | +0.84 (18.7%) |
| Deep Industries Ltd. | ₹466.50 | +69.25 (17.4%) |
| Indo Amines Ltd. | ₹243.10 | +34.33 (16.4%) |
| Ganon Products Ltd. | ₹8.90 | +1.20 (15.6%) |
| Media Matrix Worldwide Ltd. | ₹18.20 | +2.42 (15.4%) |
Stock market today: Top losers
| Company Name | Last Price (₹) | Change (₹) | % Loss |
| Tech Mahindra | 1,599.25 | -52.35 | -3.17% |
| Infosys | 1,459.10 | -42.25 | -2.81% |
| HCL Technologies | 1,099.95 | -30.25 | -2.68% |
| Wipro | 403.70 | -10.70 | -2.58% |
| Tata Consultancy Services | 3,351.50 | -84.80 | -2.47% |
| Larsen & Toubro Infotech | 4,524.00 | -108.00 | -2.33% |
| Granules India | 564.90 | -13.10 | -2.26% |
| Biocon | 376.60 | -8.70 | -2.26% |
| Coforge | 3,817.00 | -80.00 | -2.05% |
| Mphasis | 2,305.00 | -47.00 | -2.00% |
Sector Performance
The market was led by strong performances in the banking and financial sectors, while IT stocks struggled due to profit booking. The Nifty Bank index performed well, reflecting investor confidence in financial stocks amid expectations of favourable interest rate movements.
Economic Indicators
The U.S. Federal Reserve needs to make its upcoming announcement regarding interest rate cuts, and this is what investors are waiting for. This means that if they make a substantial reduction, the markets may react favourably in the short term, according to analysts.
Upcoming IPOs
The ongoing IPO of Popular Foundations has garnered attention, with its subscription period closing today. The company aims to raise approximately ₹19.87 crores through this offering, priced at ₹37 per share.
Investor Sentiment
In spite of the recent drop in indices, the investors’ mood remains cautiously optimistic due to solid foundations in some sectors coupled with anticipations of favorable monetary policy direction from US Federal Reserve.
Final Thoughts
While today’s market showed some volatility with a slight decline in major indices, underlying economic conditions and sector performances suggest that investors should remain vigilant and consider long-term growth opportunities amidst short-term fluctuations.
Disclaimer: The information in this “Stock Profile” blog post is for informational purposes only. It is not financial advice. Always consult a qualified expert before making investment decisions.
