In a session marked by selling pressure in financial, auto, and FMCG shares, the Nifty50 and Sensex closed lower, with the Sensex down 0.3% and Nifty50 down 0.1%. The market saw only brief moves above the flatline, with the Nifty50 moving within the 24,900-25,000 range. The top losers in the Nifty50 basket included M&M, ICICI Bank, Cipla, Adani Enterprises, and Maruti Suzuki, while top gainers included Trent, Hindalco, HCLTech, Tech Mahindra, ONGC, and JSW Steel. Despite the overall weak market trend, midcap and smallcap shares bucked the trend, with gains of 0.5% each in the Nifty Midcap and Nifty Smallcap indices. Keep up with the latest stock market updates and all other business news on Zeebiz.com.
Downward Trend in Indian Share Market: Nifty and Sensex Close Lower
The Indian share market witnessed a downward trend on Tuesday, with the Nifty50 and Sensex closing lower due to selling pressure in financial, auto, and FMCG shares.
Market Movement and Key Losers
The Nifty50 opened at 24,949.60, briefly rising above the flatline before slipping back. The index moved within the 24,900-25,000 range throughout the session, eventually closing at 24,918.60, down 0.1%.
The Sensex also opened higher at 83,361.02, but it too succumbed to selling pressure, closing at 82,888.20, a decline of 0.3%.
Among the top losers in the Nifty50 basket were:
Top Gainers and Industry Performance
Despite the overall market decline, a few stocks managed to buck the trend and finish in the green. Among the top gainers in the Nifty50 were:
Interestingly, midcap and smallcap shares outperformed the broader market, with the Nifty Midcap and Nifty Smallcap indices gaining 0.5% each.
Factors Contributing to Market Decline
Analysts attributed the market decline to several factors, including:
Top 5 FAQs and Answers
Q: What caused the decline in the Indian share market today? A: Selling pressure in financial, auto, and FMCG shares, along with concerns over global economic slowdown and rising interest rates.
Q: Which sectors performed well despite the market decline? A: Midcap and smallcap shares bucked the trend and gained 0.5% each.
Q: What was the closing level of the Nifty50 index? A: 24,918.60, down 0.1%.
Q: What was the top loser in the Nifty50 basket? A: M&M, down 2.5%.
Q: What was the top gainer in the Nifty50 basket? A: Trent, up 2.9%.
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