Indian stock markets end the day in red

7 May 2024 , 03:48 PM

Indian benchmark indices ended the trading session in negative territory on Tuesday, driven by a broad-based sell-off across the market and declines in heavyweight stocks.

The Sensex commenced the day on a positive note at 73,973.30, reaching an intraday high of 74,026.80, but eventually retreated to 73,259.26 by the session’s close. The index concluded the day with a loss of 383.69 points, or 0.52%, settling at 73,511.85.

Similarly, the Nifty 50 began higher at 22,489.75, touching an intraday peak of 22,499.05 before sliding to a low of 22,232.05. The index witnessed a decline of 140.20 points, or 0.62%, closing lower for the second consecutive day at 22,302.50.

Among the 30 stocks constituting the BSE Sensex, 11 ended the day in positive territory. Hindustan Unilever, Tech Mahindra, Nestle India, ITC, and Wipro emerged as the top gainers, while Power Grid Corp., IndusInd Bank, Tata Motors, JSW Steel, and NTPC were among the major losers.

Similarly, on the Nifty 50, 16 stocks closed in the green. Leading the gainers were Hindustan Unilever, Tech Mahindra, Nestle India, Britannia Industries, and ITC, while Bajaj Auto, Power Grid Corp., ONGC, IndusInd Bank, and Hindalco weighed down the index.

The broader market also witnessed significant declines, with the BSE MidCap and BSE SmallCap indices dropping by 1.90% and 1.65%, respectively.

With the exception of the FMCG and IT sectors, which recorded gains of 2.02% and 0.77%, respectively, all other sectoral indices ended the day in negative territory.

The Realty index registered the most substantial decline, down by 3.49%, followed by the Metal and PSU Bank indices, which fell by 2.39% and 2.31%, respectively.

Among heavyweight sectors, the Bank, Auto, Pharma, Healthcare, and Oil & Gas indices also posted losses exceeding 1%.

In individual stock movements, Lupin shares declined by over 4% following the release of its Q4 results, while Godrej Consumer Products shares surged by more than 5.5% despite reporting a loss of ₹1,893 crore in Q4FY24.