NIFTY50, SENSEX slip after hitting record high as RIL, Titan drag
Upstox
2 min read • Updated: April 9, 2024, 5:22 PM
Summary
The NSE Nifty 50 ended 23.55 points lower at 22,642, while the BSE Sensex slumped 58.80 points at 74,683. Out of the NIFTY50 space, 34 stocks were declining. Titan, Hero MotoCorp, Coal India, Reliance and Asian Paints were the top losers.
Benchmark indices shed all early gains to close marginally lower on Tuesday, with NSE NIFTY50 and BSE SENSEX ending 0.1% and 0.08% down, respectively. The markets were dragged down due to the decline in heavyweight stocks like Reliance Industries (-1.3%), Titan (-1.7%), and Larsen and Toubro (-0.7%).
Domestic markets scaled fresh lifetime highs, with NIFTY50 touching 22,768, while SENSEX crossed the 75,000 level for the first time. However the benchmark indices saw profit bookings at higher levels ahead of tomorrow’s US inflation data, which hold significance in determining future interest rate cuts by the US Federal Reserve.
The Nifty 50 ended 23 points lower at 22,642, while the BSE Sensex slumped 58 points at 74,683. Out of the NIFTY50 space, 34 stocks were declining.
Titan, Hero MotoCorp, Coal India, Reliance and Asian Paints were the top losers, while Apollo Hospital, Hindalco, ICICI Bank, Infosys and Bajaj Finserv were the top gainers.
Broad market indices outperformed the benchmark indices. NIFTY Smallcap 100 Index rose 0.27% to close in the green on Tuesday. However, the NIFTY Midcap 100 index fell 0.29%.
On the sectoral front, NIFTY Metal (+1.10%), NIFTY Realty (+0.65%) and NIFTY Financial Services (+0.29%) saw maximum gains, while NIFTY Media (-1.03%), NIFTY PSU Bank (-0.75%) and NIFTY FMCG (-0.56%) experienced losses.
The BANK NIFTY (+0.26%) index closed in green. Buy sentiment in ICICI Bank and Axis Bank pulled up the index.
On the stocks front, real estate developer Godrej Properties ended 4.5% higher after the firm announced its best-ever quarterly and annual sales, having sold over 5,000 homes during the fourth quarter of fiscal year 2024. Read more.
Shares of UCO Bank Ltd closed with 0.7% gains after the public sector lender reported a nearly 16% jump in advances for the fourth quarter of the financial year 2023-24.
Meanwhile, the food delivery app Swiggy has converted itself from a public limited company to a private limited firm ahead of the announcement of its $1-billion IPO expected before the end of the year. Read more.