Sensex and Nifty Continue Decline as ICICI Prudential, LTIMindtree See Sharp Falls

The BSE Sensex witnessed a significant decline of 471 points (0.66%), reaching 71,030, while the NSE Nifty experienced a drop of 125 points (0.58%), trading at 21,446. This indicates a negative trend in the Indian stock market during the recent trading session.

Sensex Plunges Over 450 Points, Nifty Slips Below 21,450; ICICI Prudential, LTIMindtree Witness Declines Up to 9%

In recent trading, LTIMindtree experienced the most significant loss in the Nifty pack with a decline of 9.17%. Other notable losers included PowerGrid, HDFC Bank, SBI Life, and Dr Reddy’s, falling by up to 4.06%.

On the flip side, top gainers featured Adani Ports, Apollo Hospitals, UltraTech Cement, Tata Motors, and SBI. These stock movements highlight the varied performance of individual stocks in the market.

In Thursday’s early trade, Indian equity benchmarks witnessed a continuation of their downward trend for the third consecutive session. The decline was primarily attributed to losses in various sectors, including banks, financials, IT, and consumer stocks.

The 30-share BSE Sensex experienced a substantial drop of 471 points (0.66%), reaching 71,030, while the NSE Nifty was down 125 points (0.58%), trading at 21,446. In the broader market, mid- and small-cap shares showed mixed trends, with Nifty Midcap 100 declining by 0.02%, and small-cap shares rising by 0.28%.

Global Market Trends: Asian markets displayed a muted performance, with Wall Street equities closing lower in the preceding session.

FII-DII Activity: Foreign institutional investors (FIIs) were net sellers, offloading shares worth Rs 10,578.13 crore during the previous session. In contrast, domestic institutional investors (DIIs) were net buyers, acquiring shares worth Rs 4,006.44 crore, as per exchange data.

In the stock market, 10 out of the 15 sector gauges compiled by the NSE were experiencing declines. Notably, sub-indexes like Nifty Bank, Nifty Financial Services, Nifty IT, Nifty FMCG, and Nifty Consumer Durables were underperforming, recording losses of up to 1.07%, 1.43%, 0.63%, 0.40%, and 0.62%, respectively.

In individual stock movements, LTIMindtree emerged as the leading loser in the Nifty pack, experiencing a significant decline of 9.17% and trading at Rs 5,700. Other notable losers included PowerGrid, HDFC Bank, SBI Life, and Dr Reddy’s, with falls of up to 4.06%.

Top Gainers: Adani Ports, Apollo Hospitals, UltraTech Cement, Tata Motors, and SBI emerged as top gainers in the market.

1. Market Breadth: The overall market breadth showed strength, with 1,734 shares advancing while 1,009 were declining on BSE.
2. Top Laggards on BSE Index: On the 30-share BSE index, HDFC Bank, Asian Paints, PowerGrid, Infosys, ITC, Bajaj Finance, Hindustan Unilever, and HCLTech were among the top laggards.
3. BSE 500 Movements:
   • Decliners: Stocks like ICICI Prudential Life Insurance Company, Alok Industries, NHPC, IEX, PowerGrid, Zomato, and HDFC Bank experienced declines of up to 9.27%.
   • Gainers: Conversely, Oracle Financial Services Software (OFSS), Birla Corporation, Aarti Industries, PCBL, Trident, Rainbow, Vaibhav Global, and Cochin Shipyard witnessed gains of up to 15%.

Read more Business News