Market News
2 min read | Updated on September 04, 2024, 17:24 IST
SUMMARY
Among sectoral indices, NIFTY PSU Bank fell the most by 1.63% while NIFTY IT dropped nearly 1% following losses in Infosys and TCS. NIFTY Metal declined by 0.65%. NIFTY Pharma, Realty and FMCG bucked the trend, rising up to 1%.
Stock list
Top gainers and losers on September 4: Asian Paints, Grasim Industries and HUL top NIFTY movers, check full list
Benchmark index NIFTY50 snapped its 14-day gaining streak on Wednesday, September 4, following profit booking in PSU bank and IT stocks after a record rally.
BSE SENSEX declined for the second straight day and closed lower by 202.8 points, or 0.25%, at 82,352.64. The index hit a low of 81,833.69 in intraday trade.
The key indices opened lower and fell to the day’s lows in late morning trade amid weak trends in Asian markets. NIFTY50 tanked 196 points to hit the day’s low of 25,083.80 but later recovered some ground to close 81.15 points or 0.32% down at 25,198.7. It hit the day’s high of 25,216.
Weak global trends following a heavy sell-off in US markets triggered by a 9.5% drop in Nvidia shares hit the market sentiment.
Defensive stocks, mainly FMCG and pharma, were in demand as investors awaited the release of United States jobs data for further cues. Gains in index-major Reliance Industries and HUL helped trim losses.
In the broader market, NIFTY Midcap and Smallcap indices slipped to end in the red.
Among sectoral indices, NIFTY PSU Bank fell the most by 1.63% while NIFTY IT dropped nearly 1% following losses in Infosys and TCS. NIFTY Metal declined by 0.65%.
NIFTY Pharma, Realty and FMCG bucked the trend, rising up to 1%.
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