Sensex ends marginally lower amid Lok Sabha election caution; Nifty flat

Sensex ends marginally lower amid Lok Sabha election caution; Nifty flat/ANI

VoM News Desk | May 8, 2024 | 04:54 PM IST | Breaking News | Follow on Google News

Sensex ends marginally lower amid Lok Sabha election caution; Nifty flat

Sensex ends marginally lower amid Lok Sabha election caution; Nifty flat

Key Highlights:

1. Sensex closes marginally lower at 73,466.39 amid caution over Lok Sabha election progress.
2. Nifty 50 ends flat at 22,302.50 after fluctuating between intraday highs and lows.
3. Broader market sees gains, with BSE MidCap up 0.78% and BSE SmallCap up 0.50%.

Indian benchmark indices remained subdued for the second consecutive day on Wednesday, as investors exercised caution amidst uncertainty surrounding the ongoing 2024 Lok Sabha elections.

The Sensex opened lower at 73,225.00, fluctuating between an intraday low of 73,073.92 and a high of 73,684.93 before closing down 45.46 points at 73,466.39, marking a marginal decrease of 0.06%.

Similarly, the Nifty 50 opened lower at 22,231.20, oscillating between an intraday low of 22,185.20 and a high of 22,368.65 before ending flat at 22,302.50.

While half of the 30 stocks on the BSE Sensex ended in the red, the broader market saw gains, with the BSE MidCap index rising by 0.78% and the BSE SmallCap index gaining 0.50% at close.

In the corporate sector, Balaji Amines reported a 44% year-on-year increase in Q4 net profit, driving its shares up by 10% at close. Meanwhile, Bharat Forge posted a 59% jump in Q4FY24 net profit to ₹389.6 crore, resulting in a 15.97% increase in its shares. Additionally, Hero MotoCorp reported a 19% year-on-year increase in net profit to ₹1,020 crore, with its shares climbing by 2.5% at close.

Source: Mint

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