Stock market today: Profit taking at higher levels, trade deal jitters and crude price surge pushed the Indian benchmark indices — Sensex and Nifty — lower on Friday after a six-day rally. Bank stocks emerged as the biggest index drags, with HDFC Bank contributing to nearly half of the losses.
Sensex settled the day 344.52 points or 0.41% lower at 84,211.88. Its NSE counterpart, Nifty 50, ended at 25,795.15, down 96 points or 0.37%.
Broader market indices, too, closed in the red today, although they outperformed the benchmarks. The BSE Midcap index lost 0.25% and the BSE Smallcap index 0.19%.
10 key highlights from trade today
Here are the 10 highlights from the Indian stock market today:
1. What drove the market lower?
Ashika Institutional Equities said that Indian markets opened on a muted note today despite positive cues from the global market. “The sentiment was further dampened after India’s Trade Minister reiterated that the country would not rush into trade agreements under restrictive conditions, weighing on investor confidence,” said the brokerage.
Technically, Nifty remains range-bound between 25,500 and 26,000 levels, and a decisive move beyond this band will likely set the tone for the next directional trend, it added.
2. Top Nifty 50 gainers today
Only 16 Nifty 50 stocks closed in the green today. Metal counter Hindalco emerged as the best performer, with a 4.11% rise, amid a jump in aluminium prices.
ICICI Bank, Bharti Airtel, Shriram Finance, ONGC and Bharat Electronics were among the other top winners, gaining 0.90% to 1.05%.
3. Top Nifty 50 losers today
On the other hand, 34 Nifty 50 stocks settled in the red. Cipla shares cracked the most at 3.68% despite its deal with Eily Lilly. HUL, Max Healthcare, UltratTech Cement and Adani Ports also emerged as top losers, shedding between 1.8% to 3.3%.
4. Sectoral watch — Metal shines; banks bleed
Barring Nifty Metal and Nifty Realty, all other sectoral indices declined in trade today. The metal index jumped 1.03% while the realty counter added 0.18%. On the flip side, Nifty Private Bank, Nifty FMCG and Nifty PSU Bank indices shed the most, down 0.81%, 0.75% and 0.74%, respectively.
5. Most traded stocks in volume terms
Vodafone Idea remained the most traded stock in volume terms as 89.53 crore shares changed hands. Utkarsh SFB followed with 14.90 crore volumes. Yes Bank (9 crore shares), Sammaan Capital (7.99 crore) and Epack Prefab Technologies (7.80 crore shares) were other stocks that saw high volumes.
6. Top gainers and losers
Eight stocks closed 10% or higher in trade today. Utkarsh SFB, Epack Prefab Technologies, Advance Agrolife, and Arrow Greentech were the top gainers. Only two stocks witnessed an over 10% fall in trade today, namely Arihant Capital and Sikko Industries.
7. Advance-decline ratio
Overall, the market breadth favoured the losers, as 1,853 stocks advanced and 2,323 stocks declined. Meanwhile, 166 stocks remained unchanged in trade today.
8. 60 stocks scale 52-week highs
60 stocks touched 52-week highs today. Some of the prominent names included DCB Bank, Federal Bank, Hindalco, Indian Bank, Motilal Oswal, and Shipping Corporation of India.
9. 39 stocks at 52-week lows
A total of 39 stocks hit 52-week lows today. Jindal Saw, JSW Cement, Orient Hotels, Tejas Network, and Westlife Foodworld were among the well-known stocks that plumbed 52-week lows.
10. Technical market outlook
Rupak De, Senior Technical Analyst at LKP Securities, said, “The Nifty remained weak during the session as traders continued to book profits. On the lower end, it slipped below the initial support of 25,850, leading to a decline towards 25,700. The next 1–2 sessions might remain volatile; however, a sustained rally looks possible thereafter. On the higher end, resistance is placed at 25,850, above which a rally towards 26,000–26,200 looks possible.”
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
