NIFTY50 and SENSEX close near their day’s low, HDFC Bank and ICICI Bank face selling pressure; Stock Market Highlights

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The NIFTY Midcap 100 index (-1.0%) closed lower today. Meanwhile, NIFTY Smallcap 100 Index (-0.6%) closed in the red today.

The NIFTY Financial Services (+1.0%) index closed lower today, with HDFC AMC (+1.3%), Shriram Finance (+1.0%) being the top gainers, while SBI Life (-2.6%) and SBI (-2.1%) being top losers.

The BANK NIFTY (-1.4%) index closed lower. Sell-off in HDFC Bank (-1.1%), ICICI Bank (-1.0%), State Bank of India (-2.1%) weighed on the index.

India’s benchmark indices – NIFTY50 (-0.9%) and SENSEX (-0.9%) – close lower. Out of the NIFTY50 universe, 38 stocks are trading in the red. Weakness in index heavyweights like HDFC Bank, ICICI Bank and index heavyweights like Reliance and ITC dragged down on the markets.

• Long build up: ONGC, BPCL, HCL Tech, Hero MotoCorp and Bajaj Finance

• Short build up: Titan, UPL, Infosys, Kotak Mahindra Bank and Hindustan Unilever

Shares of the oil and gas exploration company touched their 52-week high today.

This comes at a time when the state-owned company has commenced production off the Bay of Bengal.

Experts state that this will give a boost to its oil and gas output.

The leading explosive maker has bagged an order worth ₹994 crore.

The order has been executed in three years.

It includes supplying defence based products to an international client.

India’s benchmark indices – NIFTY50 (-0.6%) and SENSEX (-0.6%) – continue to trade lower. Out of the NIFTY50 universe, 36 stocks are trading in the red. Weakness in index heavyweights like Reliance, HDFC Bank and Infosys is dragging down on the markets. Meanwhile, realty stocks are on an upward trajectory, bucking the trend. The NIFTY Realty Index is up around 0.7%.