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What is the story about?
The equity benchmark indices BSE Sensex and NSE Nifty on Friday (January 30) snapped a three-day winning streak on Tuesday, with all major indices closing in the red amid broad-based selling. The Nifty closed below the 25,350 mark, weighed down by losses in Hindalco, Tata Steel, Coal India, ONGC and ICICI Bank.
The Sensex fell 297 points to end at 82,270, while the Nifty declined 98 points to close at 25,321. The Nifty Bank index dropped 347 points to 59,610, and the midcap index slipped 109 points to 58,432. Despite the decline in headline indices, market breadth remained in favour of advances, with the NSE advance-decline ratio standing at 3:2.
From the Sensex basket, Nestle India Ltd, Tata Consumer Products Ltd, Apollo Hospitals Enterprise Ltd, ITC Ltd, Bajaj Auto Ltd and Bharat Electronics Ltd were the major gainers. Hindalco Industries Ltd, Tata Steel Ltd, Coal India Ltd, Oil And Natural Gas Corporation Ltd ICICI Bank Ltd and JSW Steel Ltd are the biggest laggards.
Also Read: Syrma SGS shares surge up to 11%, set for best January since listing after strong Q3
Metal stocks came under sharp pressure, with the metal index snapping its three-day winning streak. Shares of Hindustan Copper, Hindustan Zinc and other metal stocks fell by as much as 12%.
Among individual stocks, Swiggy declined over 5% after reporting a wider net loss of ₹1,065 crore and following a downgrade by CLSA. Ambuja Cements dropped 5% on weak third-quarter results, while MOIL fell 4% after its earnings announcement.
South Indian Bank tumbled over 15% after its chief executive officer did not seek reappointment.
Brigade Enterprises rose over 2% post its Q3 results, while Indoco Remedies gained 2% after receiving USFDA approval for its Lacosamide oral solution.
Also Read: Dixon Tech shares surge after analysts cite re-rating triggers, attractive valuations
Nestle emerged as the top gainer on the Nifty, rising 3% after the company reported Q3 results that were above estimates. Vodafone Idea was the top midcap gainer, climbing over 11% in today’s trade.
The Sensex fell 297 points to end at 82,270, while the Nifty declined 98 points to close at 25,321. The Nifty Bank index dropped 347 points to 59,610, and the midcap index slipped 109 points to 58,432. Despite the decline in headline indices, market breadth remained in favour of advances, with the NSE advance-decline ratio standing at 3:2.
From the Sensex basket, Nestle India Ltd, Tata Consumer Products Ltd, Apollo Hospitals Enterprise Ltd, ITC Ltd, Bajaj Auto Ltd and Bharat Electronics Ltd were the major gainers. Hindalco Industries Ltd, Tata Steel Ltd, Coal India Ltd, Oil And Natural Gas Corporation Ltd ICICI Bank Ltd and JSW Steel Ltd are the biggest laggards.
Also Read: Syrma SGS shares surge up to 11%, set for best January since listing after strong Q3
Metal stocks came under sharp pressure, with the metal index snapping its three-day winning streak. Shares of Hindustan Copper, Hindustan Zinc and other metal stocks fell by as much as 12%.
Among individual stocks, Swiggy declined over 5% after reporting a wider net loss of ₹1,065 crore and following a downgrade by CLSA. Ambuja Cements dropped 5% on weak third-quarter results, while MOIL fell 4% after its earnings announcement.
South Indian Bank tumbled over 15% after its chief executive officer did not seek reappointment.
Also Read: Dixon Tech shares surge after analysts cite re-rating triggers, attractive valuations
Nestle emerged as the top gainer on the Nifty, rising 3% after the company reported Q3 results that were above estimates. Vodafone Idea was the top midcap gainer, climbing over 11% in today’s trade.
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