Domestic indices ended the monthly F&O expiry session in the red, with the NSE Nifty 50 tanking 118.40 points to 19,659.90 and the BSE Sensex plummeting 440.38 points to 66,266.82. Sectoral indices saw Bank Nifty sink 383.05 points to 45,679.30, Nifty Auto tumble 1.21%, Nifty IT fall 0.19%, Nifty Pharma jumps 3.05%, Nifty Realty soared 2.12%, and Nifty Healthcare Index surged 2.65%.
Gains in the Nifty 50 were recorded by Cipla, Sun Pharma, Divis Lab, Hero Motocorp, and Apollo Hospitals, while losses were recorded by Britannia, Mahindra & Mahindra, Tata Consumer Products, Tech Mahindra, and Nestle India.
Today’s Stock market
Following a 38% decrease in net profit quarterly to Rs 692.5 crore in Q1FY24, Tech Mahindra‘s stock price dropped 5.32% to Rs 1,082.30 on Thursday.
Brokers advised ‘Reduce’ and ‘Sell’ ratings on the stock, although Elara kept a ‘Buy’ recommendation. Tech Mahindra’s stock price has dropped over 11% during the last week despite increasing over 10% over the previous year.
- Domestic indices end the F&O session in the red, with NSE Nifty 50 tanking and BSE Sensex plummeting.
- Tech Mahindra’s stock price drops 5.32% after Q1FY24 net profit decrease.
- Nifty gains, sectoral indices rise, initial upside gap open.
On Wednesday, the Nifty entered an upswing bounce with volatility and closed the day 97 points higher. The initial upside gap is still open. Nifty IT, Nifty Metal, Nifty Media, Pharma, Nifty Realty, and Healthcare Index sectoral indices all posted rises.
With operating revenue up 18% to Rs 6,329 crore, Cipla’s share price increased today by 8.8% to Rs 1,163. In an offer for sale, the Indian government plans to sell 5.36% of Rail Vikas Nigam, which might bring in $1,329 million for the government’s general fund.
Despite a strong domestic market, Netweb Technologies shares are listed on the NSE and BSE at an 88% premium. The BSE Sensex and NSE Nifty 50 surged, as domestic indices finished the pre-opening session in the black.
