The Indian equity market ended the session on a positive note today, supported by gains in banking, and metal stocks despite losses in IT stocks. The BSE Sensex closed at 76,670.02, up by 0.45%, while the NSE Nifty 50 settled at 23,160.20, marking a gain of 0.32%. The weakness in the currency continues. Rupee slipped to yet another new low nearing the psychologically important 87/$ level. Rupee touched intra-day low of 86.5950 against the U.S. dollar, inching past its previous lifetime low of 86.5825 hit on Monday.
Sectoral Highlights
The Nifty Bank ended today’s trading session at 48,707.60, up by 1.39% The Nifty Bank Index saw a strong performance, led by SBI, which gained 3.63%, supported by other contributors like Axis Bank and IndusInd Bank.
“Nifty opened gap up and consolidated during the day to close in the green up ~90 points. It is in a temporary relief rally after a sharp decline in the previous couple of trading sessions. During the fall the Nifty faced selling pressure from the 20-hour moving average which is placed at 23277. The downtrend is still intact and hence minor degree pullbacks towards resistance zone (23270 – 23300) should be considered as a selling opportunity. on the downside we expect the Nifty to drift lower towards 23000 – 22670 from short term perspective. A move above 23340 shall lead to a further short covering otherwise the downtrend is intact,” added Jatin Gedia – Technical Research Analyst at Mirae Asset Sharekhan.
On the other hand, the Nifty IT Index faced selling pressure, with heavyweights like HCL Tech, TCS, and Infosys pulling the sector down.
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Here’s a look at today’s top gainers and losers in the market: Top Gainers in Nifty 50
Adani Enterprises was the top gainer in the Nifty 50, surging 7.25%, followed by Adani Ports, which advanced 4.90%. Hindalco rose 4.77%, while NTPC climbed 3.79%. Shriram Finance also posted notable gains of 4.02%.
Top Losers in Nifty 50
HCL Tech led the laggards, declining 8.26%, impacted by weak sectoral sentiment. Hindustan Unilever dropped 3.20%, while Apollo Hospitals lost 2.19%. Titan and Trent also ended in the red, falling 1.57% and 1.20% respectively.
Top Gainers in BSE Sensex
On the Sensex 30,
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