The S&P BSE Sensex ended the trading session 30.99 points higher at 71,386.21, while the NSE Nifty50 gained 31.85 points to settle at 21,544.85. Most of the broader market indices ended the trading session on a positive note, but with modest gains.
Sensex and Nifty ended in the green but failed to keep up the momentum witnessed in early trade.
New Delhi Stoc,UPDATED: Jan 9, 2024 16:25 IST
Benchmark stock market indices ended Tuesday’s trading session on a weak note, dragged down by financial and banking stocks, after registering a strong rebound in early trade.
The S&P BSE Sensex ended the trading session 30.99 points higher at 71,386.21, while the NSE Nifty50 gained 31.85 points to settle at 21,544.85. Most of the broader market indices ended the trading session on a positive note, but with modest gains.
The Nifty sectoral indices were mixed, with heavyweight Nifty Bank and Nifty Financial Services ending in the red. Nifty Media fell over 3.32 per cent and was the top loser among all the sectoral indices. On the other hand, Nifty Realty gained over 2.5 per cent.
The top five gainers on the Nifty50 were Hero MotoCorp, Adani Ports, SBI Life, Apollo Hospitals and Adani Enterprises. The top losers on the 50-share index were Britannia, Bajaj Finserv, Nestle India, HDFC Life, Asian Paints.
Shares of Adani Ports gained sharply during the trading session after multiple brokerages upgraded the target price of the stock. Shares of Bajaj Auto also hit a fresh all-time high in intraday trade after the company’s board approved a share buyback totaling Rs 4,000 crore.
Meanwhile, shares of Zee Entertainment Enterprises (Zee) ended nearly 8 per cent lower even as it denied media reports claiming Sony was on the brink of scrapping the $10 billion merger deal.
Aditya Gaggar Director of Progressive Shares, said, “Indian equities moved in tandem with their strong global counterparts and started the session higher at 21,650. As the day progressed, the Index was seen compounding its gains but towards the end, a steep decline in the banking stocks dragged the Index lower to settle the day at 21,544.85 with gains of 31.85 points.”
“With gains of 2.52%, the Realty sector was the top gainer followed by Pharma and Auto; and on the flip side, Media was the major laggard,” he added.
Mandar Bhojane, research analyst at Choice Broking, said, “Despite the ongoing dip, the overall trend suggests a sideways to bearish outlook, potentially providing investors with a buying opportunity near the 21,300-21,200 level.”
Published By:
Koustav Das
Published On:
Jan 9, 2024
English (US) ·