Nifty closed flat despite buying in banking-IT stocks!
indian stock market has seen heavy volatility in the first trading session of the current week. indian market opened with a decline in the morning due to poor global signals, but due to buying in IT and banking stocks, there was a strong recovery from the lower level and Sensex saw a rise of 1100 points from the lower level while Nifty saw a rise of 330 points. However, both Sensex-Nifty closed flat at the closing of the market. BSE Sensex closed with a gain of 9.83 points at 79,496 and National Stock Exchange's Nifty closed with a decline of 7 points at 24,141 points.
Loss to investors
Despite the market being flat, investors have suffered losses due to the fall in mid-cap and small-cap stocks. The market capitalization of stocks of companies listed on BSE closed at Rs 442.53 lakh crore which was Rs 444.35 lakh crore in the previous session. That is, investors have suffered a loss of Rs 1,82 lakh crore in today's session.
Falling and rising stocks
Out of 30 stocks of Sensex, 12 closed with gains and 18 closed with losses. While out of 50 stocks of Nifty, 20 closed with gains and 30 closed with losses. Among the rising stocks, Power Grid closed with gains of 4.22 percent, HCL Tech 1.60 percent, Infosys 1.58 percent, Tech mahindra 1.24 percent, tcs 1.21 percent, maruti Suzuki 0.86 percent, icici bank 0.78 percent, hdfc bank 0.69 percent, Titan 0.64 percent. Among the listed stocks, Asian Paints closed down by 8.18 per cent, Tata Steel by 1.76 per cent, Bajaj Finance by 1.73 per cent, mahindra & mahindra by 1.65 per cent and adani Ports by 1.17 per cent.
Sectoral update
In today's trade, banking and IT stocks witnessed a rise but apart from this, stocks of all other sectors closed with a decline. FMCG, metals, IT, pharma, energy, consumer durables, oil and gas and healthcare stocks closed with a fall. Midcap and smallcap stocks also witnessed a decline in today's trade.