Markets snap five-day rally: Sensex tumbles over 600 pts
Upstox
2 min read • Updated: April 26, 2024, 5:03 PM
Summary
Benchmark Indices – NIFTY50 (-0.67%) and SENSEX (-0.82%) closed in red after five trading sessions. In the NIFTY 50 space, 16 stocks advanced. Tech Mahindra (+7.7%), Divi’s Laboratories(4.9%), LTIMindtree(+3.4%), Bajaj Auto (+2.4%) and BPCL(+1.09) were among the top gainers.
Benchmark indices closed in negative territory on Friday. The 30-share BSE SENSEX closed down by 0.82% to settle at 73,730, while the NSE NIFTY 50 declined by 150 points or 0.67% to close at 22,420.
In the NIFTY50 space, 16 stocks advanced. Tech Mahindra, Divi’s Laboratories, LTIMindtree, Bajaj Auto and BPCL were the major gainers. Laggards included Bajaj Finance, Bajaj Finserv, IndusInd Bank, Nestle and SBI Life.
The broader markets continued their winning streak on Friday with the Nifty Midcap 100 (+0.79%) hitting a fresh high and the Nifty Smallcap (+0.56) too, hitting a fresh all-time high.
Among the sectoral indices, NIFTY Financial Services (-0.74%) and NIFTY Bank slipped (-0.41%) forming a dark cloud cover like candlestick pattern on the daily chart.
In the Asian markets, Japan’s Nikkei 225 ended higher by 0.84% after the Bank of Japan kept its interest rate unchanged. Hong Kong’s Hang Seng posted solid gains after a positive earnings surprise from the top-tier companies.
Shares of Bajaj Finserv ended the session down by 3.52% after reporting its fourth-quarter results. The company’s consolidated AUM crossed ₹3,30,000 crore and the , net profit for the fourth quarter stood at ₹3,825 crore, which is 21% up YoY.
Ajanta Pharma’s board to consider a buyback. A meeting for the same is scheduled on Thursday, May 2, 2024. The stock closed at ₹2,221, up by 3.78% from the previous closing.
Shriram Finance shares ended marginally higher at ₹2,498.60, up by 0.27% from the previous closing, after the company announced its Q4FY24 results today. The company’s AUM stood at ₹2,24,861.98 crore as of March end, which is an increase of 21.10% YoY.