Sensex and Nifty Close Lower Amid Broader Market Sell-Off

Sensex and Nifty Close Lower Amid Broader Market Sell-Off/Pixel

VoM News Desk | May 7, 2024 | 05:43 PM IST | Breaking News | Follow on Google News

Sensex and Nifty Close Lower Amid Broader Market Sell-Off

Sensex and Nifty Close Lower Amid Broader Market Sell-Off

Indian benchmark indices ended in the red on Tuesday, driven by a broader market sell-off and declines in heavyweight stocks. The Sensex, which initially rose to 74,026.80, later fell to 73,511.85, down by 383.69 points or 0.52%.

Similarly, the Nifty 50, after reaching 22,499.05, dropped to 22,302.50, giving up 140.20 points or 0.62% for the day, marking its second consecutive day of losses.

While 11 out of 30 stocks on the BSE Sensex closed higher, FMCG and IT sectors stood out with gains of 2.02% and 0.77% respectively, amidst a sea of red in other sectors. The broader market witnessed significant declines, with the BSE MidCap and BSE SmallCap indices shedding 1.90% and 1.65% respectively.

Sector-wise, except for FMCG and IT, all other indices ended lower, with Realty, Metal, and PSU Bank sectors facing the steepest declines.

Despite market turbulence, some individual stocks displayed resilience, with Lupin shares dropping over 4% post-Q4 results, while Godrej Consumer Products saw a gain of over 5.5

VoM News Desk

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