Market Overview of Sujata Muguda for Business News for Profit Oct 21

Stock Market Close Highlights – Monday, October 21, 2024
Indian stock markets experienced downward pressure on Monday as investors continued to book profits at higher levels during the ongoing Q2 earnings season. Despite a nearly 3% surge in HDFC Bank’s share price, both the benchmark BSE Sensex and NSE Nifty50 indices closed in negative territory.

The BSE Sensex moved within a range of 959 points throughout the day, ultimately closing at 81,151.27, down 73.48 points, or 0.09%. Similarly, the Nifty50 ended lower at 24,781, recording a loss of 73 points, or 0.29%.

Key stocks like HDFC Bank, Asian Paints, MY&M, Reliance Industries, Maruti Suzuki, and Tech Mahindra saw gains ranging from 0.4% to 2.6%. However, these increases were insufficient to lift the frontline indices, as losses in Kotak Bank, Bajaj Finserv, IndusInd Bank, Adani Ports, Ultratech Cement, Bajaj Finance, Infosys, and TCS weighed down the overall market performance.

The broader indices also faced losses, with the BSE MidCap and BSE SmallCap indices both dropping by 1.6%.

Sector-wise, notable declines were observed in the Nifty Media index, which fell by 2.8%, the Nifty Realty index by 1.7%, the Nifty IT index by 1.5%, and the Nifty Private Bank index by 1.3%.

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Disclaimer
The information provided in this article is for informational purposes only and should not be construed as financial advice. The stock market is subject to risks, and past performance does not guarantee future results. Always conduct thorough research and consult with a qualified financial advisor before making any investment decisions.