Stock Market Highlights: The markets remained under pressure through the second half of the session, with the Nifty closing below the 22,700 mark at 22,688, down 124 points. Nestle extended its losses, ending 3% lower, while Eternal and Swiggy also declined. The broader market continued to underperform, with the midcap index hitting a six-month low.
Stock Market Highlights: The market remains under pressure for the third consecutive session, with the Nifty slipping below 22,700 and closing below its 20-day moving average. The Sensex fell 460 points to 73,249, while the Nifty declined 124 points to 22,688. Elevated crude oil prices, with Brent trading above $112 per barrel, continued to weigh on sentiment.
Broader markets continued to underperform, with the midcap index hitting a six-month low. Market breadth remained firmly in favour of declines, with the advance-decline ratio at 1:3 and 38 Nifty stocks ending the session in the red.
Among stocks, Eternal failed to sustain its opening gains and closed 3% lower, while Swiggy also declined. Nestle extended its losses, falling 3% on the day and 6% for the week. Bajaj Finance recovered 4% from its intraday lows to emerge as the top Nifty gainer, while UltraTech Cement gained 1%, building on Wednesday’s gains following positive commentary.
KEI Industries fell 8% after its cautious margin outlook weighed on the stock. Oracle Financial Services Software slipped 4%, while HPCL was also in focus ahead of its earnings. SRF ended 1% higher after recovering 7% from its intraday lows following positive commentary. Indian Hotels rose 4% after reporting a second-quarter performance that beat expectations, while PB Fintech recovered sharply during the session to close 3% higher.
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HomeMarket NewsStock Market Highlights: Nifty below 22,700, Sensex falls 460 points; auto, FMCG, IT stocks drag
