Closing Bell: Sensex, Nifty end negative marginally; financial stocks drag most; M&M jumps 5%
The share market end flat with a negative bias, with both Sensex and Nifty holding key levels 60400 and 18000, respectively, at the close. The dip in the market was mainly led by financials and metal.
The share market end flat with negative bias on Monday, with both Sensex and Nifty holding key levels 60400 and 18000 at the close. The dip in the market was mainly led by financials and metal.
The BSE Sensex ended 112 or 0.19 per cent lower to 60433, while Nifty50 slipped marginally 23 points or 0.13 per cent to 18045.55 levels at the market close on Monday. On the other hand, broader markets outperformed the benchmarks, as mid-cap jumped over 1 per cent at the close.
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At least 25 ended in the green and 25 in the red on Nifty50. Britannia slipped most amid mute second quarter earnings, down 2.5 per cent, followed by HDFC twins both declined over 1 per cent.
Similarly, NTPC, Bajaj Finance, Maruti, JSW Steel, Shree Cement, Power Grid, and Hindalco each slipped between 1-2 per cent at the market close.
On the contrary, Mahindra and Mahindra surged most over 5 per cent as the company’s profit rises over 8-fold, followed by Tata Motors up around 2 per cent and SBI, ONGC, Reliance Industries fell over 1 per cent higher at market close.
The majority of the sectors ended in the green, except for financial, banks, FMCG. Nifty Auto gained the most by over 1 per cent, led by M&M, followed by IT, pharma, and realty.
Ashis Biswas, Head of Technical Research at CapitalVia Global Research Limited said, “The market witnessed some lackluster movement and an attempt to hold the level around the Nifty 50 Index level of 18000, sustaining above said will be key for the market to stay positive in the short term.”
“If the market is able to sustain the level of 18000, the market can witness a positive momentum which can lead to higher levels near 18250. The momentum indicators like RSI and MACD indicating positive momentum in the market,” Biswas further said.
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04:10 PM IST