Indian equity markets closed today’s trade on a lower note after opening on a strong foot, but couldn’t keep the gains for much time. The Nifty 50 settled the trade 4.30 points or 0.02% lower at 23,655, which is almost flat. The 30-stock Sensex dropped 135 points or 0.18% lower at 75,183.
Similarly, the broader indices followed suit, closing in the red. The Nifty Midcap 100 finished 23 points or 0.04% lower at 61,300. The Nifty Bank settled 123 points or 0.23% lower at 53,439.
“Domestic equities erased early gains as concerns over potential RBI rate hikes and weak manufacturing PMI data outweighed optimism from softer crude prices. Uncertainty around US–Iran negotiations, signals of possible domestic monetary policy tightening, and a weaker growth outlook continued to raise macro concerns. Despite resilience in small caps and selective buying in realty and healthcare, profit booking kept markets flat by the close,” said Vinod Nair, Head of Research at Geojit Investments.
Big highlights from today’s market action-
Indices in intraday trade
The indices closed the trade on a lower note. During the session, out of 3,381 trading stocks, 1,910 advanced, while 1,374 declined, and 97 remained unchanged. Today, 95 stocks hit a fresh 52-week high. Meanwhile, 29 stocks touched a new 52-week low.
Top gainers
Grasim Industries was the top gainer in the Nifty 50 in Thursday’s session, closing 6.4% higher. It was followed by InterGlobe Aviation, Apollo Hospitals Enterprise, Bajaj Auto, and Trent.
Top losers
Bajaj Finance shares were the biggest losers in today’s trade, falling 1.62%. It was followed by Hindustan Unilever, Tech Mahindra, Infosys, and Bajaj Finserv, which were the major losers.
The restaurant and QSR sector stocks fell the most in Thursday’s trade, droping 3.4% in the market capitalisation. Further, Small Finance stocks were followed by the Personal Care sector stocks, which were further followed by the Tea/Coffee sector stocks. However, the Electronics sector stocks rose the most in today’s subdued market.
Best and worst performing business groups
The Indiabulls Group’s market cap rose the most in today’s session, rising 5.33%. It was followed by the BK Birla Group. Apart from that, Somany Group’s market capitalisation rose the most, increasing 3.11%. In the list of Somany Group stocks, Hindware Home Innovation’s share rallied 12.34%.
