NIFTY50 and Sensex close marginally lower, Pharma stocks outperform; Stock Market Highlights

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The IPO of the Tata Group company received strong traction over the last three days.

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The NIFTY Smallcap 100 index closed 0.3% higher, outperforming the benchmark indices. On the other hand, the NIFTY Midcap 100 Index closed in green, up 0.06%.

The NIFTY Financial Services index was up 0.3% today. Axis Bank (+1.0%) and HDFC Bank (+0.6%) were top gainers, whereas IEX (-1.9%) and Cholamandalam Investment (-1.7%) were the top losers.

The BANK NIFTY (+0.4%) index closed in the green today. Gains in large banks such as HDFC Bank (+0.6%), ICICI Bank (+0.6%) and Axis Bank (+1.0%) supported the index.

After opening higher, the NIFTY50 (-0.04%) and Sensex (-0.07%) pared their gains and closed marginally lower. Out of the NIFTY50 universe, 33 stocks declined. On the sectoral front, Pharma (+0.8%) and Metal (+0.6%) are the top gainers, whereas IT (-0.9%) and FMCG (-0.4%) are the top losers.

Shares of the defence technology firm traded in the green, up 0.1% after the company signed a new agreement with the Goa government to expand its operations with a new state-of the-art research and development (R&D) and manufacturing facility in Goa. As per the company, this new project will require an investment of ₹50 crores.

Meanwhile, on a year-to-date basis, shares of the company are up over 310%.

UK’s FTSE is down 0.4%, while Germany’s DAX is trading 0.05% higher. France’s CAC is also trading 0.01% higher.

Source: BSE