The stock markets faced a downturn on Thursday, with major indices closing in the red. The BSE Sensex dropped by 213.12 points or 0.27%, ending the day at 78,058.16, while the NSE Nifty 50 saw a decline of 70.15 points, down by 0.3%, and closed at 23,626.15.
The Nifty Bank index also ended the day on a negative note, closing at 50,303.60, down by 39.45 points or 0.08%.
Looking at specific sectors, the Nifty Midcap 50 index finished at 14,964.35, falling by 191.60 points, a decline of 1.26%. Similarly, the Nifty Midcap 100 index lost 680.80 points, ending at *53,500.05, a drop of 1.26%. The Nifty Small Cap 50 index ended the day at 38,216.25, down by 33.25 points, or 0.40%.
“Today, the benchmark indices witnessed intraday profit booking at higher levels, with Today, the Nifty ends 93 points lower and the Sensex down by 213 points. Among sectors, selective Pharma stocks registered buying interest at lower levels, while the Real Estate and Capital Market indices shed over 2 percent. Technically, after a muted open, the market faced consistent selling pressure at higher levels. On the daily charts, it has formed a bearish candle near the 50-day SMA (Simple Moving Average), which supports further weakness from the current levels. However, the short-term texture of the market is still on the positive side,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
Gold rate today
Gold prices have continued to climb, hitting record highs for the second consecutive day on Thursday, majorly driven by the wedding season.
The 24 carat gold rate today surged to Rs 8,642.3 per gram, up by Rs 1040.0, while 22 kt gold rate today reached Rs 7,923.3 per gram, rising by Rs 950.0.
Looking at recent trends, the 24 carat gold price has dropped by 1.2% over the past week but has seen a significant decline of 6.34% in the last month.
Top gainers and losers
As of the closing, the major gainers from the Sensex 30 pack were Adani ports (1.72), Infosys (0.94), Axis Bank (0.71), HCL Tech (0.60), and Tech Mahindra (0.58). On the flip side, the top 5 laggards were Bharti Airtel (-2.47), Titan (-2.28), NTPC (-2.13), SBI (-1.79), and ITC (-1.53).
Similarly, from the Nifty 50, the gainers were ITC Hotels, Cipla, Adani Ports, HDFC Life, and Tata Consumer. The top 5 losers in the today’s trading session were Trent , BEL, Bharati Airtel, ONGC, and Titan.
