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  5. NIFTY settles below 24,400, SENSEX ends flat: HUL, SBI Life, Hindalco top losers; UltraTech top gainer

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NIFTY settles below 24,400, SENSEX ends flat: HUL, SBI Life, Hindalco top losers; UltraTech top gainer

Upstox
By Upstox News Desk

2 min read | Updated on October 24, 2024, 17:05 IST

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SUMMARY

Among sectoral indices, NIFTY FMCG dropped the most by 2.83%. Realty, Auto, Metal, and IT shares also came under selling pressure. FMCG giant Hindustan Unilever tanked the most among NIFTY50 stocks, declining by 5.81% after its Q2 results.

Stock list

HINDUNILVR
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SBILIFE
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ULTRACEMCO
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SHRIRAMFIN
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STOCK_PTI12_5_2023_181.webp

Among the NIFTY constituents, 26 stocks closed in the green and 24 ended in the negative territory. Image: PTI

Benchmark indices SENSEX and NIFTY edged down on Thursday, October 24, extending their losing run to the fourth day in a row after weaker-than-expected Q2 results by bluechips.

The 50-issue NIFTY settled lower by 36.1 points, or 0.15%, at 24,399.4. NIFTY opened on a firm note but soon declined to a low of 24,341.2 as selling in FMCG and realty share pushed the index into the red.

Among the NIFTY constituents, 26 stocks closed in the green and 24 ended in the negative territory.

The 30-issue SENSEX slipped by 16.82 points, or 0.02%, to close at 80,065.16 with 11 of its constituents closing with losses and 19 in the green. The barometer dropped 269 points to hit a low of 79,813.02, but later trimmed losses to regain the 80,000 level.

In the broader market, NIFTY Midcap indices declined up to 0.7% while smallcap indices dropped up to 0.60%.

Among sectoral indices, NIFTY FMCG dropped the most by 2.83%. Realty, Auto, Metal, and IT shares also came under selling pressure.

PSU Bank and financial sector shares bucked the negative trend.

Adani Wilmar Q2 results: Net profit at ₹311 crore, revenue up 18%

Hindustan Unilever, SBI Life and Nestle lead losers

FMCG giant Hindustan Unilever tanked the most among NIFTY stocks, declining by 5.81% after its Q2 results. The company reported more than expected 2.4% decline in net profit to ₹2,591 crore for the September quarter.
SBI Life shares dropped 4.67% following its second quarter financial results. SBI Life posted a 39% year-on-year increase in its consolidated net profit to ₹529 crore. Net premium income was marginally up 1% at ₹20,266 crore.
Hindalco dropped 3.71% amid concerns over demand in the automotive and aerospace sector in the United States.
Nestle India declined 2.76% while Bajaj Auto fell by 2.69%.

Ultratech Cement, Shriram Finance, M&M major gainers

Ultratech Cement gained the most among NIFTY stocks. Shares of the company rose by 2.66% after experts turned bullish on the stock amid ongoing consolidation in the cement sector.
Shriram Finance rose by 1.82% ahead of its quarterly results.
Mahindra & Mahindra gained 1.48%. The company has launched two testing facilities to assess safety of SUV vehicles. Titan rose by 1.45% while Grasim gained 1.4%.
Uplearn

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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