Market Update: Indian Indices Extend Losses

7 May 2024 , 01:34 PM

Indian benchmark indices continued their decline on Tuesday. The Sensex dropped 449 points or 0.61% to 73,445, while the Nifty fell 161.85 points or 0.74% to 22,277. Of the shares traded, 756 witnessed gains, 2,466 declined, and 74 remained unchanged.

Realty and metals sectors suffered the most, both recording over a 2% decline, while other sectors were also in the red except for Nifty FMCG, which saw a 2% increase.

Apart from FMCG, all other sectoral indices were in negative territory, with Realty leading the decline at 3.36%, followed by Metal, PSU Bank, Pharma, and Healthcare, each falling over 2%.

The broader market also saw losses, with the BSE SmallCap index dropping 1.86% and the BSE MidCap down 2.03%.

Among the Nifty 50 stocks, only 11 were in the green. Hindustan Unilever, Britannia Industries, Nestle India, ITC, and SBI Life were the top gainers, while Bajaj Auto, Power Grid Corp., Hindalco, JSW Steel, and Cipla were the top losers.

In the Sensex, only eight stocks showed gains. Power Grid Corp., JSW Steel, Tata Steel, IndusInd Bank, and Tata Motors were the major losers, while Hindustan Unilever, Nestle India, ITC, Kotak Mahindra, and Tech Mahindra were the top gainers.

Foreign institutional investors (FIIs) sold ₹2,168.75 Crore worth of shares, while domestic institutional investors (DIIs) bought ₹781.39 Crore shares on May 6, according to provisional data from the NSE.

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