Market Declines with 28 Sectors Falling and BSE 500 Index Dips 0.15%
In a challenging trading session, the BSE 500 index declined by 0.15%, with only 10 of 38 sectors advancing. The BSE Capital Goods sector led gains at 0.46%, driven by a 6.78% rise in Bharat Dynamics, while the Power sector increased by 0.34%. In contrast, the NIFTYIT sector fell 0.86%, primarily due to a 1.45% drop in Infosys, and the BSE IT sector decreased by 0.80%. NIFTYMEDIA stood out with a strong performance, achieving the best advanced-decline ratio of 10, highlighting sector-specific disparities in market trends.
In a challenging trading session, the overall market reflected a slight decline, with the BSE 500 index posting a one-day return of -0.15%. Among the sectors, a stark contrast emerged, as only 10 out of 38 sectors advanced, while 28 faced declines, resulting in an advancing-declining ratio of 0.36.The BSE Capital Goods sector led the way with a modest gain of 0.46%, driven primarily by Bharat Dynamics, which surged by 6.78%. The Power sector also showed resilience, climbing 0.34%, bolstered by Adani Power's 1.51% increase. Additionally, the NIFTYMEDIA sector managed a 0.22% uptick, with Prime Focus contributing a notable 2.12%.
Conversely, the NIFTYIT sector experienced the steepest decline, falling by 0.86%, largely due to a 1.45% drop in Infosys. The BSE IT sector followed closely with a decrease of 0.80%, impacted significantly by IRIS Business, which plummeted by 4.99%. The TECK sector also struggled, down 0.62%, with ITI dragging down performance with a 1.78% decline.
Notably, NIFTYMEDIA exhibited the best advanced-decline ratio of 10, indicating strong performance relative to its peers, while BSE IT recorded a ratio of 0.39, reflecting its struggles in the current market environment.
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