Indian equity markets see a day in red

3 May 2024 , 03:47 PM

In a day marked by volatility, Indian benchmark indices remained on a downward trajectory. Nifty slipped below the 22,500 mark amidst widespread selling across various sectors, except metals.

As trading hours drew to a close, the Sensex, India’s premier stock market index, faced a significant downturn, closing lower by 732.96 points or 0.98% at 73,878.15. Similarly, the Nifty, another key index, experienced a decline, ending the day down by 172.40 points or 0.76% at 22,475.80.

Market breadth reflected the prevailing bearish sentiment, with 1241 shares advancing, while 2013 shares declined. A small fraction of 79 shares remained unchanged, underscoring the overall negative market sentiment.

Leading the losses on the Nifty were heavyweight stocks such as L&T, Maruti Suzuki, Reliance Industries, Nestle India, and Bharti Airtel. On the flip side, notable gainers included Coal India, Grasim Industries, ONGC, Dr Reddy’s Laboratories, and Hindalco Industries.

Across sectors, barring metals, all other sectoral indices concluded the session in negative territory. Capital goods, oil & gas, realty, telecom, and PSU Bank were among the sectors witnessing declines, each down by 1%.

Despite starting the day with upward momentum and touching fresh highs, the broader indices succumbed to selling pressure as the session progressed. The BSE midcap and smallcap indices mirrored the sentiment, both registering a decline of 0.5% each by the end of the trading session.