Market closes lower due to losses in consumer stocks amid weak earnings
The stock market closed lower on Wednesday due to losses in consumer stocks amid weak earnings.
The stock market closed lower on Wednesday due to losses in consumer stocks amid weak earnings.
The benchmark indices surged 1.8 per cent on the back of strong gains in capital goods, banking, energy, and auto stocks on Tuesday.
Stock market fell on Monday amid losses in global markets as the US President Donald Trump announced new tariffs on key trading partners, including Canada, Mexico, and China.
Stock market closed higher on Friday, a day before the announcement of Budget, for the fourth consecutive session.
At close, Sensex was up 654 points or 0.9 per cent at 76,555 and Nifty was up 206 points or 0.9 per cent at 23,163.
The top gainers on the Sensex were UltraTech Cement, HDFC Bank, and Bajaj Finance, while the only losers were ICICI Bank, Titan Company, Kotak Mahindra Bank, and ITC.
All the sectors faced profit booking decline except IT, FMCG and Pharma counters. At around 2.00 p.m., the S&P BSE Sensex trade on a flat note at 55,617.55.
The top gainers on the Sensex were Mahindra & Mahindra, Tata Steel and Bajaj Finserv
The NSE Nifty50 ended the session at 16,483.90, higher by 119.50 points or 0.73 per cent from its previous close.
It opened at 54,071.22 and has touched an intraday high of 54,274.40 and a low of 54,034.31 points.
