Cautious investors reap Rs 3.2 lakh crore even as Sensex, Nifty extend losses to 4th session
The BSE Sensex fell 280 points, or 0.35%, to settle at 80,149. The broader NSE Nifty declined 65 points, or 0.27%, to end at 24,413.
Despite the decline in the benchmark indices, the market capitalisation of all listed companies on BSE surged by Rs 3.2 lakh crore to Rs 449.6 lakh crore.
From the Sensex stocks, Bajaj Finserv, Bajaj Finance, HUL, Adani Ports, SBI, and Axis Bank were the top laggards, falling 1-2.5%. On the other hand, Tech Mahindra, NTPC, Tata Motors, Sun Pharma, Power Grid and Asian Paints closed in the green.
Among individual stocks, Kalyan Jewellers closed 6.3% higher after the government slashed the customs duty on gold and silver to 6% from 15%, respectively.
ICICI Prudential Life Insurance shares also closed 9% higher after the company posted an 8.7% YoY jump in profit after tax to Rs 225 crore for Q1FY25.
On the sectoral front, Nifty Oil & Gas rose 1.7%, and Nifty Consumer Durables surged 1.1%. Nifty Media, IT, Pharma, Realty, and Healthcare also ended higher, while Nifty Bank, Financial Services, and FMCG closed lower.
In the broader market, Nifty Smallcap100 rose 1.7%, led by Castrol, Sonata Software, and NLC India. Nifty Midcap100 also closed over 1% higher.
Expert Take
«The Budget event has gone by leaving a mixed bias while reshuffling of capital gains tax is only a short-term negative surprise. The broad market seems to be losing momentum due to lack of further traction. The domestic investors are biased but strong government fiscal and growth policy is attractive for FIIs, which
Read more on economictimes.indiatimes.com
