Indian Indices Extend Losses for Fourth Consecutive Session

Indian Indices Extend Losses for Fourth Consecutive Session

Dil Bar Irshad | May 29, 2024 | 03:46 PM IST | Breaking News | Follow on Google News

Indian Indices Extend Losses for Fourth Consecutive Session

Indian Indices Extend Losses for Fourth Consecutive Session

Key Highlights:

1. Sensex closes down 0.89%, Nifty down 0.8% for the day.
2. Six stocks on Sensex close in the green, while 13 on Nifty 50 end positively.
3. BSE MidCap down 0.38%, BSE SmallCap up 0.23%; pharma, healthcare, metal, and media indices gain.

Indian benchmark indices continued their downward trend for the fourth consecutive session on Wednesday, reflecting global uncertainties impacting investor sentiment.

Sensex opened lower at 74,826.94 and remained rangebound between 74,454.55 and 74,986.22 throughout the day. It closed at 74,502.90, down 667.55 points, or 0.89%. Similarly, Nifty opened at 22,762.75 and traded within 22,685.45 and 22,825.50 before closing at 22,704.70, down 183.45 points, or 0.8%.

Among Sensex stocks, Power Grid Corp., Nestle India, Sun Pharma, ITC, IndusInd Bank, and Bharti Airtel closed in the green, while Tech Mahindra, Bajaj Finserv, ICICI Bank, HDFC Bank, and UltraTech Cement were the top drags.

On the Nifty 50, Hindalco Industries, Divi’s Laboratories, Power Grid Corp., Bajaj Auto, and Cipla were the top performers, while HDFC Life, SBI Life, Tech Mahindra, Tata Consumer Products, and Bajaj Finserv faced losses.

The broader market closed with a mixed sentiment, with the BSE MidCap down 0.38% and the BSE SmallCap up 0.23%. Sectors like bank, financial services, oil & gas, and IT indices witnessed significant declines, while pharma, healthcare, metal, and media indices recorded gains.

In corporate updates, Alkem Laboratories reported increased revenue and net profit, while Samvardhana Motherson International’s Q4 revenue rose, and HeidelbergCement saw a rise in net profit despite marginal revenue dip.

(Inputs from Mint)

Dil Bar Irshad

Dil Bar Irshad is a seasoned journalist, hails from Jammu Kashmir's Doda, covers political, social, business stories, index stories.