Stock Market Today: Nifty Ends Lower For Second Day After Volatile Session As Titan, SBI Drag
The Nifty closed at 22,442.7, down 33.15 points or 0.15% and the Sensex closed 17.39 points higher at 73,895.54.
KEY HIGHLIGHTS
Rupee Closes Weaker Against U.S. Dollar
Rupee Closes Weaker Against U.S. Dollar
-The local currency closed 6 paise weaker against the U.S. Dollar at 83.49
-It closed at 83.43 on Friday.
Source: Bloomberg
Nifty End Volatile Session Lower As Titan, SBI Drags: Closing Bell
Benchmark equity indices were little changed from Friday at close after a volatile session today. Shares of Titan Co., SBI, and RIL dragged them but the losses were limited on the back of gains in Kotak Mahindra Bank.
The Nifty closed at 22,442.7, down 33.15 points or 0.15% and the Sensex closed 17.39 points higher at 73,895.54.
"Indian bourses began the week on a strong note but a steep correction in the PSU stocks put pressure on the Index to trade lower," said Aditya Gaggar, director of Progressive Shares. "A vertical fall in the Mid and Smallcaps dented the market sentiments further."
"The Index has formed a small red candle but on the downside, the zone of 22,330-22,380 will act as a strong support while the higher side seems to be capped at 22,580," Gaggar added.
Shares of Titan Co. Ltd., State Bank Of India, Reliance Industries Ltd., NTPC Ltd., and Larsen & Toubro Ltd. led to the fall.
On the other hand, those of Kotak Mahindra Bank Ltd., Tata Consultancy Services Ltd., ICICI Bank Ltd., Infosys Ltd., and Britannia Industries Ltd. minimised the losses.
Most sectoral indices ended lower with Nifty PSU Bank falling the most. Nifty Realty gained nearly 3%.
On BSE, 13 sectors declined, and seven advanced out of 20. The S&P BSE Consumer Durables was the worst performing sector among peers, and the S&P BSE Realty was the top performing sector.
Broader markets underperformed benchmark indices. The S&P BSE Midcap ended 0.95% down, and the S&P BSE Smallcap settled 1.06% down.
Market breadth was skewed in favour of the sellers. Around 2,625 stocks declined, 1,296 stocks advanced, and 173 stocks remained unchanged on BSE.
Grindwell Norton Q4 Earnings (Consolidated, YoY
Revenue at Rs 691.08 crore vs Rs 664.8 crore, up 3.95%
EBITDA at Rs 125.01 crore vs Rs 129.33 crore, down 3.34%
Margin at 18.08% vs 19.45%
Net profit at Rs 92.68 crore vs Rs 98.49 crore, down 5.89%
Welspun Corp Associate Company In Pact With Maramer Contracting
Saudi Arabia-based associate company East Pipes signs off contract worth Rs 133 crore with Maramer Contracting
Duration of contract is for 6 months, financial impact of which will be realised in Q2 and Q3 of FY25
Source: Exchange filing
Godrej Properties Hits All-Time High After Results
Stock surges more than 10% in today's trading session and up 109% in one year. The stock hit its upper circuit limit of 10% after which the limit was revised to 15%.
