Nifty Drops 0.45% as Advance-Decline Ratio Signals Bearish Sentiment; Zuari Industries Soars 19.99%
The Indian stock market faced a decline today, with the Nifty closing at 25,056.90, down 0.45% and significantly below its 52-week high. Large-cap stocks exerted downward pressure, reflected in the 1.2% drop of the Nifty Next 50 index. The SENSEX also fell by 0.47%, with a stark advance-decline ratio of 142 to 356 on the BSE500. While Pidilite Industries and some mid and small-cap stocks saw gains, Adani Power and Godrej Properties were among the biggest losers, highlighting a broad market downturn across 35 sectors.
The Indian stock market experienced a downturn today, with the Nifty closing at 25,056.90, down 112.6 points or 0.45%. This positions the index 4.87% below its 52-week high of 26,277.35. Despite trading above its 50-day moving average, the market faced pressure primarily from large-cap stocks, as evidenced by the Nifty Next 50 index declining by 1.2%. The SENSEX also reflected negative sentiment, trading at 81,715.63, down 386.47 points or 0.47%. The advance-decline ratio across the BSE500 was notably unfavorable, with 142 stocks advancing against 356 declining.
Among the top gainers, Pidilite Industries led large caps with a rise of 1.85%, while Premier Energies and Zuari Industries gained 3.15% and 19.99%, respectively, in the mid and small-cap segments. Conversely, Adani Power was the largest loser, plummeting by 10.84%, followed by Godrej Properties and Shankara Building Products, which fell by 4.05% and a staggering 76.19%.
Overall, the market saw 35 sectors decline, with NIFTYREALTY suffering the most at a loss of 2.49%, while NIFTYCPSE managed a slight gain of 0.20%.
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