Share Market HIGHLIGHTS: Nifty50 slides to 24,964, Sensex sheds 230 pts dragged by financial, auto stocks

Share Market News, Sensex, Nifty50: Domestic equity benchmarks only briefly traded in the green in a session impacted by selling pressure in financial, auto and FMCG shares though some buying interest in energy stocks lent some support. The Sensex ended 230.1 points, or 0.3 per cent, lower at 81,381.4 while the Nifty50 settled at 24,964.3, down 34.2 points, or 0.1 per cent, from its previous close. Analysts awaited more corporate earnings from India Inc after Tata Consultancy Services—the country's largest IT firm—kicked off the earnings season on a muted note. 

During the session, the 30-scrip index gyrated in a range of 367.2 points, between 81,304.2 and 81,671.4, while the Nifty50 broadly moved within the 24,900-25,000 range, with only brief moves above the flatline in early hours of trade.  

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Among the other top losers in the Nifty50 basket were M&M, ICICI Bank, Cipla, Adani Enterprises and Maruti Suzuki, closing around 1-2 per cent lower each. 

Trent, Hindalco, HCLTech, Tech Mahindra, ONGC and JSW Steel, closing between 1.2 per cent and 2.5 per cent higher, rose the most among the 28 gainers in the 50-blue-chip pack.

ICICI Bank, TCS, HDFC Bank and M&M were the biggest contributors to the losses in both Sensex and Nifty50.

The Nifty Bank—whose 12 constituents are stocks of some of the country's largest lenders including SBI and HDFC Bank—ended 0.7 per cent lower in partial intraday recovery after falling as much as 1.0 per cent. 

Midcap and smallcap shares bucked the overall weak market trend, reflected in a gain of about half a per cent each in the Nifty Midcap and Nifty Smallcap indices. 

Overall market breadth was skewed in favour of the bulls with an advance-decline ratio of 6:5 as 2,142 stocks rose while 1,746 declined on BSE.  

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