Closing Bell: Sensex, Nifty snap 4-day losing streak; Nifty Bank hits new record high for 3rd day
The BSE Sensex gained 145.43 points or 0.24 per cent at 60,967 while the Nifty50 up 10.5 points or 0.06 per cent to 18,125.
The banking stocks aided the Indian stock market to snap the four-day declining trend on Monday, to eventually end in the green. Sensex up almost 150 points, while Nifty flat above 18100-level at the market close today. IT stocks continue to drag the market along with metal and FMCG at the close.
The BSE Sensex gained 145.43 points or 0.24 per cent at 60,967; while Nifty50 up 10.5 points or 0.06 per cent to 18,125. Broader markets underperformed than benchmarks to end negative, as Mid-cap fell around 2 per cent while Small-cap slipped over 2 per cent at the market close on Monday.
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Nifty Bank breached a new all-time high, above 41800-level for the third straight session today. The surge in the banking index was led by both private and public sector lenders.
As many as 12 stocks advanced and 28 declined on the Nifty50 index at the market close today. BPCL slipped most in the trade today, down almost 4 per cent, followed by SBI Life and Bajaj Finserv each down over 3 per cent at the market close today.
Other stocks such as Bajaj Auto, HCL Tech, Tata Motors, Wipro, Asian Paints, Hero Moto, Eicher Motors slipped between 2-3 per cent at the market close today.
On the contrary, ICICI Bank shares amid strong Q2 earnings gained over 11 per cent at the close, followed by Axis Bank at second spot up 3.5 per cent at the market close. ONGC, Dr Reddy’s, SBI, JSW Steel, Cipla ended in the green aiding most to the market at the close.
Except for banking and financial stocks, all other indices declined at the market close on Monday. Nifty IT slumped for the fifth straight session, down over 1 per cent, while auto indices declined most today by near 2 per cent. FMCG, metal, pharma, realty, and media indices declined too at the close.
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