Share Market Closing Bell! Sensex, Nifty end negative near flatline – Reliance Industries, HDFC Bank lead the decline, Coal India surges almost 4%

The Indian markets on Thursday closed negative, as both the benchmark indices Sensex and Nifty recover from lows to close almost flat. Heavyweights such as Reliance Industries, HDFC Bank lead the weakness in the market, while Hindalco, Coal India and Kotak Bank held it from further fall. 

In the broader markets segment, Midcaps outperform the benchmarks with market breadth slightly in favour of declines bias after a brief volatile session, amid weak global cues. 

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The BSE Sensex slumped by over 127 points or 0.22 per cent to 58,177.76, while Nifty50 declined marginally by around 14 points or 0.08 per cent to 17,355.3 levels. While the mid-cap index outperformed the benchmarks and gained over 132 points or 0.45 per cent to 29473.45 levels at the market close today.        

Declining most in a flat market today, Nifty Bank tried to drag the benchmark index most, it closed by over 0.5 per cent or 211 points lower to 36471.8 levels, led by ICICI Bank and HDFC Bank.               

Out of 50 scrips on Nifty50, 30 advanced, 20 declined at the market close on Monday. Coal India being one of the top gainers at the market open today, closed almost 4 per cent higher, followed by Hindalco up over 3 per cent, while Kotak Bank, Tata Steel, BPCL each gained over 1.5 per cent.  

On the contrary, Reliance Industries dragged the benchmark indices most, as the index heavyweight close weakest by over 2 per cent, followed by ICICI Bank down over 2 per cent. Similarly, SBI Life, HUL, HDFC Banks, Adani Ports, Eicher Motors, M&M fell between 0.5-2 per cent at the close today. 

Except for banking and financial stocks along with FMCG, almost all other sectors closed in the green on Monday. Nifty Metal surged most by near 1.5 per cent, followed by IT Index by around 1 per cent in otherwise flat market on Monday. Nifty Bank dragged the Nifty Index most by 0.5 per cent today.