Indian stock markets had a day of mixed results as they edged lower. The BSE Sensex fell 16 points to settle at 64,942, while the Nifty 50 declined 5 points, ending at 19,407. In contrast, the broader markets showed resilience, closing with minor gains and outperforming the benchmark indices. Bank Nifty saw a rise of 119 points, settling at 43,738, while the Midcap Index added 113 points to reach 40,050.
Significant fluctuations were seen in various stocks in response to their earnings reports. Alchemy and Trent, won by strong Q2 results, rise 5-8%. In contrast, gains in Oil Marketing Companies (OMCs) such as BPCL, IOC, and HPCL, which went up by 2-6%, eased crude oil prices.
Big losers on the Nifty included Hero MotoCorp, Coal India, Bajaj Finance, JSW Steel, and Divis Labs. On the positive side, Sun Pharma, BPCL, NTPC, Axis Bank, and Dr. Reddy’s Labs among the gains.
In terms of sectors, the healthcare and oil and gas sectors registered gains of 1% each, while the real estate sector declined by 1%. Investors continue to closely monitor these market movements, reflecting the ongoing dynamism in India’s financial landscape.
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