The Indian stock market faced a slowdown on Thursday after an impressive week-long surge. The benchmark indices, Sensex and Nifty, closed the day lower, with the Sensex finishing at 79,801.43, down 315.06 points or 0.39%. The Nifty followed suit, dropping to 24,246.70, a decline of 82.25 points or 0.34%. The Nifty Bank index also saw a dip, closing at 55,201.40, down 0.30%. In a notable shift, the India VIX, which measures market volatility, rose by 1.81%.
Key Highlights from Thursday’s Trading Session
IndusInd Bank Shines Bright
Among the Nifty 50 stocks, IndusInd Bank stood out as the top gainer, surging nearly 3%. Following closely were UltraTech Cement, which gained almost 2%, alongside other significant contributors like Dr. Reddy’s Labs, Cipla, Tata Motors, and Tata Consumer Products.
Hindustan Unilever Faces a Setback
On the downside, Hindustan Unilever experienced a sharp decline, dropping around 4% and taking the lead as the worst performer. Other companies such as Bharti Airtel, Eicher Motors, ICICI Bank, ONGC, and Adani Enterprises also contributed to the negative momentum in the market.
Market Dynamics: A Near-Equal Split
The trading session on the NSE involved 2,923 stocks, with a fairly balanced outcome: 1,407 stocks advanced while 1,423 saw declines. Additionally, approximately 93 stocks remained unchanged, reflecting a cautious sentiment among investors.
Fresh Peaks: 52-Week Highs
The bulls were still active, with 52 stocks reaching new 52-week highs during the session. Notable mentions include AstraZeneca, Bajaj Finserv, and Bajaj Finance, showcasing robust investor interest.
Stocks at New Lows: Gensol Engineering Struggles
Conversely, 13 stocks hit their 52-week lows, with Gensol Engineering leading this unfortunate list, currently trading around Rs 94 per share as it continues its downward trend.
Circuit Activity: Volatile Trading Day
The market exhibited volatility, with 114 stocks hitting the upper circuit, while 37 stocks faced the lower circuit limit during the day’s trading, indicating significant price movements.
Currency Update: Rupee Strengthens Slightly
In currency news, the Indian rupee managed to break its losing streak, appreciating by 15 paise against the US dollar, closing at 85.27 compared to the previous day’s close of 85.42.
This trading day reflects the dynamic nature of the Indian stock market, with investors navigating both highs and lows. For further insights, check out the latest market analyses and trends.
