Domestic equities in India experienced a day of mixed performance on Monday, as the stock market attempted to regain its footing after last week’s downward trend. The benchmark BSE Sensex managed to eke out a marginal gain of 14.54 points, or 0.02 per cent, closing at 66,023.69. Similarly, the broader NSE Nifty ended the day on a slightly positive note, up by just over 1 point, closing at 19,675.55.
Despite the relatively flat performance of key indices, the broader markets displayed resilience and outperformed. The Nifty Midcap Select index gained 1.27 per cent, the Nifty Midcap 50 rose 0.83 per cent, and the Nifty Midcap 100 jumped 0.60 per cent. The Nifty Microcap 250 also saw an increase of 0.53 per cent, while the Nifty Midcap 150 and Nifty Smallcap 50 gained 0.49 per cent and 0.41 per cent, respectively.
In terms of sectoral performance, Nifty Realty was among the top gainers, surging by 1.59 per cent, followed by Nifty Financial Services, which saw a rise of 0.52 per cent. The Nifty Private Bank index also closed higher, up by 0.45 per cent, and Nifty Consumer Durables gained 0.39 per cent. However, on the flip side, Nifty IT witnessed a decline of 0.82 per cent, Nifty Media fell 0.74 per cent, and Nifty Pharma recorded a dip of 0.41 per cent.
One notable development during the trading session was the significant drop in the shares of Delta Corp, which closed 18.40 per cent lower at Rs 143 on the BSE. The stock hit a 52-week low of Rs 140.20. This sharp decline came after the company announced that it had received a tax notice amounting to Rs 16,822 crore on Friday, September 22.
Among the top gainers in today’s session were Bajaj twins, ICICI Bank, Kotak Mahindra Bank, Asian Paints, UltraTech Cements, Apollo Hospitals, Coal India, Grasim, Asian Paints (again), JSW Steel, and Adani Enterprises.
On the other hand, the top losers included Hindalco, SBI Life, Hero MotoCorp, Infosys, M&M, Dr Reddys, Wipro, HDFC Life, TCS, LTI Mindtree, and IndusInd Bank.
The Indian stock market’s performance reflects the ongoing volatility and uncertainty in global financial markets. Investors are closely monitoring economic indicators and corporate developments as they navigate these challenging times.
