Stock Market News Today: Sensex Down 500 Points, Nifty Ends Below 25,000; Axis Bank Top Loser
The Nifty 50 has slipped below key support level of 25,000, indicating bearish tone. Axis Bank, HDFC Bank and ICICI Bank are weighing heavily on the index.
USD INR: Rupee Closes Weaker Against The Dollar
Rupee closed eight paise lower at 86.16 against the US Dollar. It closed at 86.08 on Thursday according to Bloomberg data.
Stock Market Live: Market At Close
The benchmark indices closed lower today, marking their second consecutive day of decline. The Nifty notably fell below the 25,000 mark, primarily dragged down by the Financials sector.
Within the Nifty, Axis Bank and Shriram Finance recorded the most significant losses. The Nifty Bank index, falling by nearly 1%, emerged as the top losing sector for the day, with Axis Bank and HDFC Bank being its biggest contributors to the decline. Overall, several key sectoral indices including Nifty IT, Oil & Gas, Auto, PSU Bank, and Nifty Bank, also experienced losses for the second consecutive day.
Adding to the broad market weakness, the Nifty Realty index snapped its four-day gaining streak, and the Nifty FMCG index ended its impressive five-day winning run. The Nifty Financial Services sector continued its downward trend, registering losses for the third day in a row.
In contrast to the overall market sentiment, the Nifty Media index posted a gain of more than 1% today, driven by strong performances from TV18 Broadcast and Saregama. This marks the Nifty Media index's second consecutive day of gains.
Stock Market Live: BEML Shares Trade Lower After Order Win
The shares of BEML traded lower despite the company getting a Rs 186 crore order to supply bulldozer from the Defence Ministry.
The scrip was trading 3.13% lower at Rs 4,404 compared to the 0.59% decline in the benchmark index Nifty 50.
Stock Market Live: Big Names Ahead Of Earnings
The shares of HDFC bank was trading 1% lower ahead of its first quarter earnings. ICICI Bank was trading flat ahead results along with Reliance Industries. Many of key sectoral players are set to announce their first quarter results today.
Stock Market Live: Hindustan Zinc After Q1 Results
After posting disappointing first quarter results, the shares of Hindustan Zinc slip lower. The scrip was trading 0.23% lower at Rs 435 compared to a 0.57% decline in the benchmark index.
Revenue from zinc, lead and others was down 14.1% to Rs 6,116 crore versus Rs 7,118 crore. Revenue from silver down 15.5% to Rs 1,426 crore versus Rs 1,688 crore.
