Stock Market Today: Nifty Off Day’s Lows But Ends Below 25,700, Sensex Loses 200 Points; HDFC Bank Top Drag
The Indian stock market witnessed a volatile session on Wednesday, with the Nifty and Sensex trading in red during the open, extending the decline for the second day. The Nifty ended the day below 25,700, while the Sensex lost over 200 points, with HDFC Bank being the top drag.
Nifty Consolidates Ahead of Major Earnings
The Nifty index, which had fallen sharply in the previous session, managed to recover some of its losses during the day. However, it was unable to sustain the momentum and ended the day in the red. The index was weighed down by losses in banking stocks, with HDFC Bank and ICICI Bank being the major contributors to the decline.
Sensex Loses Over 200 Points
The Sensex, which had also fallen sharply in the previous session, lost over 200 points during the day. The index was dragged down by losses in IT stocks, with TCS and Infosys being the major contributors to the decline.
Q1 Results to Drive Market Sentiment
The Indian stock market is expected to be driven by Q1 results in the coming days, with several major companies scheduled to announce their earnings. The Q1 results are expected to provide a direction to the market, with investors closely watching the performance of companies in various sectors.
Top Gainers and Losers
The top gainers on the Nifty included Reliance Industries, Hindustan Unilever, and Nestle India, while the top losers included HDFC Bank, ICICI Bank, and Axis Bank.
Market Outlook
The Indian stock market is expected to remain volatile in the coming days, with Q1 results and global cues driving market sentiment. Investors are advised to remain cautious and keep a close watch on the market, with a focus on long-term investing strategies.
Conclusion
In conclusion, the Indian stock market witnessed a volatile session on Wednesday, with the Nifty and Sensex trading in red during the open. The market was weighed down by losses in banking stocks and IT stocks, with HDFC Bank being the top drag. The market is expected to remain volatile in the coming days, with Q1 results and global cues driving market sentiment.
