Comments
The Indian stock market showed mixed signals in mid-day trading, with the Nifty 50 index marginally up and the Sensex slightly down.
As of 12:45 PM, the Nifty was trading at 24,724.45, up 25.60 points or 0.1% from its opening of 24,680.55. Meanwhile, the Sensex stood at 80,747.32, down 55.54 points, or 0.07%, from its opening of 80,667.25.
Market breadth remained positive, with 2,501 stocks advancing against 1,301 declines. Notably, 286 stocks hit their 52-week highs, while only 13 touched 52-week lows.
Shrey Jain, Founder and CEO of SAS Online, commented on the market’s recent performance, saying, “After a four-day surge, we expect investors to take some profits following the recent rally.” He added, “Despite this, the overall trajectory for the Nifty remains positive.”
Jain pointed out key levels to watch, stating, “A sustained move above the 24,700 threshold could pave the way for the index to reach the 25,000 to 25,100 range.” He also noted, “In the near term, we view the 24,400 to 24,500 zone as a crucial support level.”
Regarding the banking sector, Jain observed, “Recent trading sessions have indicated short covering in banking and financial stocks. We expect this positive momentum to carry over into today’s trading.”
Among individual stocks, Divi’s Laboratories led the gainers on the NSE, up 3.39% at ₹4,883.45. Other top performers included Hindalco Industries (2.96%), Titan Company (2.21%), SBI Life Insurance (2.05%), and HDFC Life Insurance (2.03%).
On the flip side, UltraTech Cement was the biggest loser, down 1.26% at ₹11,206.7. HDFC Bank, ONGC, Tech Mahindra, and Tata Steel also featured among the top losers, declining between 0.85% and 1.02%.
As the market heads into the afternoon session, investors will be closely watching for any shifts in momentum and potential profit-taking activities.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.