Mumbai: Indian stock market closed in red on Wednesday’s trading day. Sensex fell more than 400 points. At the end of trading, there was selling in auto, IT, PSU bank and pharma sectors. Sensex closed at 79,942.18 after falling 426.85 points or 0.53 percent. At the same time, Nifty closed at 24,340.85 after falling 126 points or 0.51 percent. Nifty Bank fell 513.20 points or 0.98 percent to 51,807.50. Nifty Midcap 100 index closed at 56,339.25 at the end of trading after rising 87.95 points or 0.16 percent. Nifty Smallcap 100 index closed at 18,390.90 after rising 191.95 points or 1.05 percent. Selling was seen in all sectors of Nifty except FMCG, Media and Infra.
However, the market trend remained positive. On the Bombay Stock Exchange (BSE), 2,894 shares were trading in green, 1,037 shares in red. At the same time, 80 shares closed without any change. Infosys, HCL Tech, ICICI Bank, Kotak Mahindra Bank, M&M, SBI, HCL Tech, Axis Bank, NTPC and HDFC Bank were the top losers in the Sensex pack. At the same time, Maruti, IndusInd Bank, Adani Ports, ITC, UltraTech Cement, L&T and Titan were the top gainers.
Cipla, Shri Ram Finance, HDFC Life, Trent, Infosys and SBI Life were the top losers in the Nifty pack. At the same time, Adani Enterprises, Hero MotoCorp, Tata Consumer, Britannia, Maruti and IndusInd Bank were the top gainers. Market experts said that as the festival of Diwali approaches, the domestic market is trying to show some signs of recovery from recent lows. A significant drop in crude oil prices is strengthening market sentiment, although it also indicates a possible slowdown in global demand.
According to experts, “Gold remains bullish due to festive demand in India, as well as the market has risen in anticipation of Trump’s victory in the upcoming US election. This optimism has led to a surge in liquidity in the gold markets.” According to the Indian Bullion and Jewelers Association, the price of 24 carat gold remains at Rs 79,680 per 10 grams.
