IT and metal stocks pushed Sensex down 353 points. Excellent below the 22,150 mark.
Top Gainers and Losers
Nifty’s breadth remained biased in favor of the downside with 37 stocks ending lower and 12 stocks ending in the black. 1 stock in 50 stock packs remains unchanged. The top gainers were Larsen & Toubro (L&T), Power Grid, Adani Enterprises, Tata Consumer Products and SBI Life Insurance, while Asian Paints, Apollo Hospitals, Hindalco Industries, Divi’s Laboratories and Tech Mahindra were among the worst laggards.
Twelve out of 15 Nifty sectoral indices ended in negative territory with the Nifty IT index falling the most by more than 1%. Nifty Metal, Nifty Consumer Durable and Nifty FMCG saw the biggest declines among sectors. Nifty Auto, Nifty Oil & Gas and Nifty Realty closed in the green with marginal gains.
expert take
“Markets took a breather after the recent rally this week as investors’ focus shifted from earnings to economic triggers. US and India GDP data, euro zone inflation and US jobless claims data are influential factors in helping central banks gauge the economic situation. The numbers will be: Vinod Nair, head of research at Geojit Financial Services, said, “Raising interest rates will dictate market sentiment in the near term. “Uncertainty about demand and high U.S. inventories have driven oil prices down,” he said.
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