Nifty, Sensex fail to hold opening gains as financials keep market under pressure


Sensex Today | Stock Market Highlights: The Sensex fell 368 points to close at 80,236, while the Nifty declined 98 points to 24,487. The Nifty Bank index dropped 467 points, or 1%, to 55,044, while the Nifty Midcap index slipped 154 points to 56,325, although it relatively outperformed the benchmarks.

Sensex Today | Stock Market Highlights: Equity benchmarks ended Tuesday’s session at the day’s low as selling pressure in financial stocks weighed on sentiment. After opening with strong gains, the market lost steam through the day, with a sharp fall in the final hour pushing the Nifty below its 100-day moving average of 24,514. 30 Nifty stocks ending in the red. HDFC Bank and ICICI Bank were the biggest drags on the index.

On the upside, Alkem Laboratories rose up to 7% after its June quarter earnings came in much better than estimates, while Granules India gained over 3% despite reporting a subdued Q1 performance. Hindustan Aeronautics Ltd (HAL) reported operating numbers ahead of expectations, helping the stock end off the day’s lows. In the broader market, SJVN, JSL Stainless, Biocon, and India Cements were among the top midcap gainers.

On the downside, Astral slid over 8% after weak Q1 results, with Supreme Industries also ending lower. Muthoot Finance extended losses ahead of its quarterly earnings release, closing nearly 3% lower. RVNL dropped almost 5% after a disappointing Q1, with margins contracting by 400 basis points year-on-year. Jayaswal Neco surged 14% after repaying all debentures ahead of schedule.



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