On the first trading day of the week, the domestic stock market closed flat. Throughout the trading session, the market experienced limited fluctuations, and investors appeared cautious. Both major indices, Nifty and Sensex, remained range-bound during the day's trading, with no clear direction emerging.
On Monday, the first trading day of the week, there was no significant movement in the domestic stock market. Both the Sensex and Nifty indices closed at flat levels. The market traded within a limited range throughout the day. Investors appeared cautious, and no major trend was visible. Meanwhile, midcap and smallcap stocks saw a slight decline.
Closing Levels of Key Indices
At the end of the trading session, the Nifty closed at 25,461.30, while the Sensex ended at 83,442.50. The Nifty Midcap Index fell by 162 points to close at 59,516. The banking sector also remained under pressure, with the Nifty Bank Index declining by 83 points to close at 56,949. However, the Nifty maintained the crucial support level of 25,400.
FMCG Stocks Showed Strength
The FMCG sector index closed in the green. After the release of first-quarter business updates, there was b performance in prominent stocks like Tata Consumer, HUL, Nestle, and ITC. This sector was the shining star of today's trading and remained b throughout the session.
Mixed Trend in Oil and Gas Sector
Due to a decline in crude oil prices in the international market, companies like ONGC and Oil India faced pressure. On the other hand, oil marketing companies like HPCL, BPCL, and IOC saw gains of 1 to 2 percent.
Weakness in IT and Metal Stocks
In terms of sectoral performance, IT and metal stocks showed weakness. Info Edge, a major company in the IT sector, recorded its lowest billing growth in the last four quarters, leading to a 4 percent decline in its stock.
Mixed Performance in Jubilant Food and Dabur India
Jubilant FoodWorks presented b figures in the first quarter but did not meet market expectations, putting pressure on the stock. On the other hand, Dabur India concluded the session with gains, despite weak quarterly updates.
JP Power Becomes the Talk of the Town
JP Power shares witnessed significant buying today. The stock closed with a remarkable gain of 19 percent. There was market speculation that this surge was driven by anticipation of a major deal or new information.
Godrej Consumer's Surprising Performance
Among midcap stocks, Godrej Consumer's performance was the most impressive. Following the company's quarterly updates, the stock closed with a 6 percent gain and topped the midcap index.
Weakness in Defence Stocks
Today, the defense sector stocks showed weakness. BEL (Bharat Electronics Limited) was the weakest stock in the Nifty. Additionally, ICICI Lombard faced pressure after the release of premium data, while New India Assurance improved slightly after an initial decline and closed the day with a slight gain.
PB Fintech Gained Momentum in the Last Hour
PB Fintech (PolicyBazaar) shares saw a b recovery in the last hour of the session. The stock closed at its upper level for the day. Meanwhile, DreamFolks remained under pressure for the second consecutive day, closing down by 6 percent.
Volatility in BSE Shares Throughout the Day
The shares of BSE (Bombay Stock Exchange) initially showed an upward trend, but it could not be sustained. Profit booking was observed during the middle of the session, and the stock eventually gave up its initial gains.
The Market Remained Slow, but Select Stocks Showed Strength
Although the market closed flat overall, investors showed interest in select stocks. Especially in those companies that recently released their business updates. The beginning of quarterly results is expected in the coming days, which is expected to determine the market's direction.
