Stock Market Fluctuates: BANKEX and NIFTYIT Lead Gainers, BSEPSU and OILGAS Top Losers

Feb 09 2024 10:00 AM IST
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Today, the stock market has seen a dip with a one-day return of -0.73%. The top gaining sectors include BANKEX, BANKNIFTY, and BSE CD, while the top losing sectors are BSEPSU, NIFTYPSE, and OILGAS. ICICI Bank and Titan Company are driving the gains in BANKEX and BSE CD, while I O C L and Power Fin.Corpn. are responsible for the declines in OILGAS, NIFTYPSE, and BSEPSU. NIFTYIT has the best advanced decline ratio at 2.33, indicating more advances than declines, while METAL has a ratio of 0.33. Investors should stay updated and make strategic moves to maximize profits in this constantly changing market.
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The stock market is constantly fluctuating, and today is no exception. With 6 advancing sectors and 34 declining sectors, the ratio stands at 0.18. The BSE 500 index has also seen a dip with a one-day return of -0.73%.

Among the top gaining sectors, BANKEX takes the lead with a 0.21% increase, closely followed by BANKNIFTY at 0.12% and BSE CD at 0.11%. On the other hand, the top losing sectors include BSEPSU with a significant decline of -2.70%, NIFTYPSE at -2.50%, and OILGAS at -2.43%.

The driving force behind the BANKEX sector is ICICI Bank, with a 1.12% increase, while ICICI Bank also leads the BANKNIFTY sector with the same percentage. BSE CD is being driven by Titan Company, with a 0.71% increase. However, the OILGAS sector is being dragged down by I O C L with a -5.04% decrease, while Power Fin.Corpn. is responsible for the decline in both NIFTYPSE and BSEPSU sectors with a significant -8.79%.

The NIFTYIT sector has the best advanced decline ratio today at 2.33, while the METAL sector has a ratio of 0.33. This indicates that the NIFTYIT sector has seen more advances compared to declines, while the METAL sector has seen more declines.

Investors should keep a close eye on these sectors and stocks to make informed decisions. With the market constantly changing, it is important to stay updated and make strategic moves to maximize profits.

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