Sensex and Nifty Close in Red on September 27, 2024

27 Sep 2024 , 05:24 PM

The Indian stock market experienced a decline on September 27, closing lower after failing to maintain record highs during a volatile trading session.

The BSE Sensex ended down by 264.27 points, or 0.31%, at 85,571.85, while the Nifty index dropped by 37 points, or 0.14%, closing at 26,179.

Both indices had reached new highs earlier in the day, with the Sensex peaking at 85,978.25 and the Nifty hitting 26,277.35, contributing to a weekly gain of 1% for each index.

After a stable start, the market rallied but faced selling pressure in the second half, resulting in a downward trend.

Notable decliners included Power Grid Corp, Bharti Airtel, HDFC Bank, ICICI Bank, and Kotak Mahindra Bank. In contrast, BPCL, Cipla, Sun Pharma, Coal India, and Reliance Industries emerged as top gainers.

Sector-wise, gains were seen in the auto, metal, IT, pharma, and oil & gas sectors, while realty, power, banking, media, FMCG, and telecom indices declined by 0.3-1%.

The BSE Midcap and Smallcap indices remained relatively flat, with 285 stocks hitting 52-week highs, including major players like Aditya Birla Fashion, Apollo Hospitals, and Bajaj Auto.