Leader Online Desk: Indian stock market fell on Tuesday (7th) despite strong signals from global markets. Sensex and Nifty lost due to selling pressure from sectoral indices and broader market. The Sensex closed down 383 points at 73,511. While the Nifty fell by 140 points to settle at 22,302.
The Economic TimesSensex has lost around 1000 points in the last three days, according to reports. This has reduced the combined market capitalization of BSE listed companies by 11 lakh crores. The Nifty has become volatile due to the selling spree by foreign investors in the market. Analysts say that overall pre-election restlessness is visible in the market.
Nifty FMCG index gained 2 percent, Nifty IT gained 0.77 percent. While Nifty Realty and Metals fell by 3.5 percent and 2.3 percent respectively. On the other hand, Nifty PSU Bank fell by 2.3 percent, Nifty Healthcare by 2 percent and Nifty Auto by 1.8 percent.
The nifty metal rumbled
All major sectoral indices, except Nifty FMCG, saw declines. The Nifty metal index closed down 2.3 per cent in the red due to selling pressure. The Nifty metal ended lower on declines in Hindustan Zinc, National Aluminum and Hindalco shares. Also, shares of real estate companies fell as investors turned to some profit booking in the weak market.
Bank Nifty also fell
The Nifty Bank index fell over 1 percent in weak markets. Shares of PNB fell 3 percent to Rs 123. IndusInd Bank fell by 2.80 percent, Bandhan Bank by 2.70 percent, IDFC First Bank by 2.56 percent and Bank of Baroda by 2 percent. Meanwhile, shares of Kotak Bank rose 1 percent to Rs 1,642 on Nifty Bank.
Which stocks are top gainers, top losers
Power Grid, Tata Motors, IndusInd Bank, JSW Steel, M&M, Tata Steel, NTPC, ICICI Bank HCL Tech, Reliance, Ultratech Cement, Axis Bank were the top losers on the Sensex. While the shares of Hindustan Unilever, Tech Mahindra, Nestle India, TCS, ITC, Wipro, Infosys, Kotak Bank remained bullish.
On the Nifty, shares of Bajaj Auto, Power Grid, Hindalco, Cipla and Shriram Finance fell between 2-4 percent. While the shares of Hindustan Unilever, Britannia, Tech Mahindra, Nestle India, TCS rose the most.
Shares of Godrej Consumer are on the rise
Godrej Consumer Products Share Price rose 6 percent to Rs 1,323 on BSE today. The company's shares rose even after it reported a consolidated net loss of Rs 1,893 crore for the quarter ended March 31, 2024. Meanwhile, the revenue of this company has increased by 6 percent.
Marico shares rebound
Shares of FMCG companies saw strong buying today despite the fall in the market. Shares of Marico (Marico share price) rose by about 10 percent to touch a high of Rs 583 on BSE. The company, a leader in the FMCG sector, posted a 5 percent increase in consolidated net profit to Rs 320 crore in the March quarter. Meanwhile, major FMCG companies like Hindustan Unilever, Britannia Industries, Nestlé India, ITC, Tata Consumer were among the top gainers on the Nifty. Shares of these companies rose up to 5 percent today.
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