Share Market Overview:
The Indian stock market experienced a mixed session on Wednesday, ending the day slightly lower. The Sensex fell by 40.28 points (0.05%) to close at 84,233.64, while the Nifty slipped 18.70 points (0.07%) to end at 25,953.85.
Sector Performance:
Healthcare and auto stocks led the rally, contributing to positive momentum in the market. Key sectoral gainers included:
- Nifty Healthcare: +1.62%
- Nifty Auto: +1.30%
- Nifty PSU Bank: +1.03%
- Nifty Pharma: +1.01%
- Nifty India Manufacturing: +0.76%
- Nifty Realty: +0.63%
On the other hand, IT, PSU Enterprises, and private banks witnessed a decline:
- Nifty IT: -1.76%
- Nifty PSE: -0.16%
- Nifty Private Bank: -0.16%
Market Cap Segments:
Large-cap, mid-cap, and small-cap indices showed relatively flat trading. The Nifty Midcap 100 gained 18.65 points (0.03%) to 60,754.55, while the Nifty Smallcap 100 edged up 3.80 points to 17,455.
Top Gainers and Losers:
Among the Sensex constituents, SBI, Maruti Suzuki, Indigo, Trent, NTPC, Bajaj Finance, ICICI Bank, Sun Pharma, BEL, Bharti Airtel, and L&T were the top performers. Meanwhile, TCS, Infosys, HCL Tech, ITC, Tech Mahindra, HDFC Bank, Axis Bank, Ultratech Cement, Titan, Tata Steel, Bajaj Finserv, Kotak Mahindra Bank, Asian Paints, and Power Grid lagged behind.
Expert Insights:
Senior Technical Analyst at LKP Securities, Rupak De, noted that during the session, the Nifty tested the 26,000 resistance level before showing some weakness. He added that while the short-term trend remains positive, immediate support lies around 25,800. If the Nifty crosses the 26,000 mark convincingly, further upside is possible.
Stocks Showing Buying Interest:
Strong buying was observed in stocks such as SBI, Eicher Motors, Apollo Hospitals, SJVN, Laxmi Cotspin, Airan, Brightcom Group, and JK Paper. Notably, 131 stocks breached their 52-week highs, signaling bullish sentiment.
Stocks Under Selling Pressure:
Shares showing weakness included HDFC Bank, TCS, BHEL, Pearl Global, Synergy Green Industries, Sterlite Technologies, Laxmi Dental, Ecos (India) Mobility & Hospitality, and Bartronics India, indicating a potential start of downward momentum.
Disclaimer: The suggestions in this analysis reflect the views of individual analysts or brokerage firms and not Navbharat Times. Investors are advised to consult certified experts before making any investment decisions, as market conditions can change rapidly.
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