Stock Market: There was tremendous drama and ups and downs in the Indian stock market at the last moment. After a day’s gain, BSE Sensex slipped into the red due to sudden profit booking during the closing auction session (CAS). Till 3:15 pm, the Sensex was 245 points strong, but at the last closing price of 3:30 pm, it fell 20 points (0.03%) to close at 74,295. However, NSE’s Nifty 50 managed to maintain its lead and closed at 23,346, jumping 76 points (0.33%). India VIX, which measures market anxiety, closed with a huge fall of 7.57%, indicating underlying strength in the market.
Bumper boom in Adani Ports, Power Grid and HDFC Bank also shine
Despite the slowdown in Sensex, strong buying was seen in many Nifty stocks. Shares of Adani Ports were the top gainer today and closed at ₹ 1,801.00 with a strong rise of 3.72% and remained among the top gainers. Other than this,
Power Grid: up 2.47% to ₹270.00.
HDFC Bank: closed at ₹729.10 with a gain of 2.26%.
Bharti Airtel: Jumped 2.11% to ₹1,866.00.
Bajaj Finance and IndiGo: gained 1.08% and 0.93% respectively.
Apart from this, Eternal (+0.82%), L&T (+0.78%), SBI (+0.54%) and Axis Bank (+0.23%) also closed in the green. On the other hand, heavy selling pressure was seen in TCS (-4.33%), Titan (-2.11%), Asian Paints (-2.00%) and Maruti (-1.98%).
Smallcap and midcap shine, IT sectors lag behind
Investors placed bets openly in the broad market against major indices. Smallcap index closed with a bumper gain of 1.77%. Apart from this, Midcap Index also managed to register a rise of 1.23%. The market breadth was completely in favor of buyers, with 2,531 shares closing with gains and 1,452 shares with declines. Sectoral performance saw gains of over 1% in metals, media, realty, infrastructure and energy sectors. However, the IT sector remained under pressure and the Nifty IT index closed 1.03% lower.