Sensex Dips 0.49% Amid Weak Market Breadth; Zuari Industries Soars Nearly 20%
The Indian stock market faced a downturn today, with the Sensex falling 221.58 points to close at 81,696.07, a 0.49% decline. Despite this drop, the index remains above its 50-day and 200-day moving averages, suggesting some underlying strength. The Realty sector was the hardest hit, declining by 2.64%, while only five sectors advanced. Notable stock movements included Zuari Industries, which surged nearly 20%, and Shankara Build, which plummeted 76.19%. Overall, the advance-decline ratio was negative, with significantly more stocks declining than advancing.
The Indian stock market experienced a downturn today, with the Sensex dropping by 221.58 points to close at 81,696.07, reflecting a decline of 0.49%. The index opened significantly lower, down 184.45 points, but remains above its 50-day moving average, which is also above the 200-day moving average, indicating some underlying strength despite the day's losses.Among the sectors, the Realty sector faced the steepest decline, falling by 2.64%, while the NIFTYCPSE sector managed a modest gain of 0.45%. Overall, the market saw 33 sectors decline compared to just 5 that advanced.
In terms of individual stock performance, Zuari Industries stood out as the top small-cap gainer, surging by nearly 20%. On the other hand, Shankara Build faced a dramatic drop of 76.19%, marking it as the top small-cap loser. Among large caps, Pidilite Industries gained 1.90%, while Adani Power led the losses with a decline of 9.14%. The advance-decline ratio across the BSE500 was notably negative, with 142 stocks advancing against 358 declining.
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