Sensex Today | Stock Market Highlights: Nifty slips below 24,050, broad sell-off drags indices
Sensex Today | Stock Market Highlights: Markets closed in the red but off intraday lows, with the NIFTY 50 below 24,000 and the BSE SENSEX down 583 points, dragged by broad-based selling. IT and pharma were the only sectoral gainers, while weak market breadth and a sharp fall in banking and midcap stocks kept sentiment subdued.
Broad-based selling dominated the session, with 40 Nifty stocks closing in the red and all sectoral indices ending lower except IT and pharma. Bank stocks also remained under pressure, dragging the NIFTY Bank down 540 points, while midcaps saw sharper cuts amid weak market breadth, with the advance-decline ratio at 1:2.
Among key movers, Tata Motors Passenger Vehicles, Eternal, and Hindalco were the top losers, while stock-specific action stood out with Bajaj Auto rising nearly 5% on a proposed buyback plan.
On the flip side, Hindustan Unilever declined nearly 3%, whereas Syngene International surged 8% post Q4 earnings. In the broader market, Newgen Software emerged as a top gainer, while several midcaps saw declines. Meanwhile, the Indian rupee hit a record low of 95.33 against the US dollar during the session, adding to the cautious sentiment.
Brent is near the $124 a barrel mark.
The Indian rupee closed weaker at 94.91 per US dollar, compared with the previous session’s close of 94.54, indicating continued pressure on the domestic currency.
Watch this space for all the Highlights stock market updates.
