Indian equity markets end the day on a flat note

8 May 2024 , 03:50 PM

.Indian equity markets ended the day on a flat note today.

The Sensex commenced the day’s trading lower at 73,225.00, touching an intraday low of 73,073.92 before briefly ascending to a high of 73,684.93. Ultimately, the Sensex concluded with a marginal decline of 45.46 points, or 0.06%, settling at 73,466.39.

Similarly, the Nifty 50 also began on a lower note at 22,231.20, reaching an intraday low of 22,185.20. Although it briefly surged to an intraday high of 22,368.65, the index closed flat at 22,302.50.

Among the 30 stocks on the BSE Sensex, half ended the day in negative territory. Asian Paints, Hindustan Unilever, UltraTech Cement, HDFC Bank, and HCLTech emerged as the top drags, while Tata Motors, Power Grid Corp., NTPC, Larsen & Toubro, and Maruti Suzuki India were the top gainers.

Similarly, half of the 50 stocks on the Nifty 50 also closed in the red, with Dr. Reddy’s, Asian Paints, Grasim Industries, UltraTech Cement, and HDFC Bank leading the declines. Conversely, BPCL, Hero MotoCorp, Tata Motors, Hindalco, and Coal India were among the top gainers for the day.

Despite the subdued sentiment prevalent in the benchmark indices, the broader market displayed strength, closing firmly in the green. The BSE MidCap index gained 0.78%, while the BSE SmallCap index rose by 0.50% at the close.

Across various sectors, the Bank, Financial Services, PSU Bank, IT, Consumer Durables, and Healthcare indices concluded the day in negative territory. Conversely, the Oil & Gas, Auto, Metal, Media, PSU Bank, FMCG, Realty, and Pharma indices ended the day with gains.

In corporate news, Balaji Amines reported a robust 44% year-on-year increase in Q4 net profit, propelling its shares up by 10% at the close. Similarly, Bharat Forge witnessed a significant 59% surge in Q4FY24 net profit to ₹389.6 Crore, resulting in a 15.97% increase in its share price.

Hero MotoCorp also reported a noteworthy 19% year-on-year increase in net profit to ₹1,020 Crore, with the company’s shares rising by 2.5% at the close.