Share Market Closing Bell! Sensex, Nifty end flat, albeit negatively; Nifty Media up over 13% on ZEEL surge

The Indian markets ended almost flat line, albeit with some negative bias on Monday. However, media, IT and realty stocks were among the biggest gainers. Banking and financial stocks dragged the benchmark indices the most. The information and technology stocks held the market from the further fall, as Sensex closed below 59000, while Nifty below 17550 levels on Wednesday.

The BSE Sensex fell marginally around 78 points or 0.13 per cent to 58,927.33, while Nifty50 slipped by 15.35 points or 0.09 per cent to 17,545.65 at the close.

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On the contrary, the mid-cap index jumped most in the broader markets by 491.45 points or 1.67 per cent to 29,933.9 today. The index outperforming the benchmarks was mainly led by media and realty indices, as Zee Entertainment shares spurted near 32 per cent, while Godrej Properties from the realty sector soared over 13 per cent at the market close on Wednesday.

Leading the decline in the Nifty50 index, Nifty Bank declined by over 291 points or 0.78 per cent to 36,944.65, led ICIC Bank, HDFC Bank and Kotak Mahindra Bank at the close today. 

Out of 50 scrips on Nifty50, 27 advanced, 22 declined and one remained unchanged at the market close on Wednesday. Nestle India declined most in the trade today by near 1.5 per cent, followed by HDFC, ICICI Bank, ONGC, HDFC Bank each down over 1 per cent at the market close on Wednesday. 

While Coal India gained the most in the flat but negative market by over 3.5 per cent, followed by Tech Mahindra up 3.5 per cent. While Hindalco and Tata Motors each gained over 2.5 per cent as well as Mahindra & Mahindra surged almost 2 per cent at the market close on Wednesday. 

The majority of the sectoral indices ended positive except for Nifty Bank, Financial Services, FMCG, and private bank stocks. Nifty Metal gained most by around 1.5 per cent, followed by Nifty IT which hit a new life high during intraday trade today.