The Indian stock market closed with the Sensex and Nifty 50, exhibiting a relatively flat performance. The Sensex slipped by 169 points to 71,315, while the Nifty 50 declined by 38 points to 21,419.
The Nifty Bank experienced a notable dip of 276 points, closing at 47,868. However, the Midcap index saw a surge, reaching a record high with a rise of 99 points to 45,685.
In sectoral performances, financials showed relative underperformance, with ICICI Bank notably dragging down the Nifty Bank. On the flip side, the midcap outperformance trend continued, and 2-wheeler stocks, particularly Bajaj Auto, witnessed notable buying, leading to a 3% increase in stock value.
The top gainers on the Nifty 50 were Bajaj Auto, Adani Ports, Sun Pharma, Hindalco Industries and Reliance Industries while the top losers were Power Grid Corporation, JSW Steel, ICICI Bank, ITC and Tech Mahindra,
Pharma stocks emerged among the top gainers, with Zydus Life and Sun Pharma securing prominent positions. IRCTC recorded its third-largest single-day gain ever, experiencing an impressive rise of up to 13%.
Siemens experienced a surge following the company's announcement of exploring an energy business demerger. Meanwhile, sugar stocks broke their losing streak after the government reversed its ethanol policy, resulting in a 2-10% increase in stock values.
On the downside, realty stocks saw profit booking, with Godrej Properties and Oberoi witnessing falls of over 2% each. South cement stocks, including India Cements and Ramco Cements, slipped in trade with a 2% decrease each.
Metal stocks, however, remained in an upward trajectory, with Nalco and SAIL emerging as top gainers. SpiceJet saw a significant surge, rising up to 20%, following reports of Consortium Aviation expressing interest in acquiring Go First.
The overall market capitalization of BSE-listed companies reached a record high of ₹359 lakh crore. BSE-listed companies collectively added a market cap of over ₹1 lakh crore on Monday.
