Stocks in the media, realty, IT, and telecom sectors are facing significant downturns, while auto, oil & gas, and FMCG stocks are under selling pressure. However, banking stocks are showing resilience in the market.
As of 12:35 pm, the broader market is trading in the red. The Sensex has slipped 29.02 points or 0.04% to 74,573.10, and the Nifty 50 has dipped 30.40 points or 0.13% to 22,517.15.
Among the top gainers in the Nifty 50 index are Shriram Finance, Bajaj Finance, Bajaj Finserv, IndusInd, and Axis Bank. On the other hand, UltraTech Cement, Hero Motocorp, Trent, BPCL, and M&M are among the top losers.
Shriram Finance is leading the gainers with a 4.68% increase, trading at ₹601.1 as of 12:38 pm. Bajaj Finance has gained 2.35% to trade at ₹8,688.4, and Bajaj Finserv has risen 2.22% to ₹1,916.8. Bajaj Finance has also hit a 52-week high in early trading at ₹8,739.
Among banking stocks, IndusInd and Axis Bank have seen gains of 1.69% and 1.22%, trading at ₹1,051.7 and ₹1,021.45, respectively.
On the BSE, CreditAccess Grameen and Inox India have gained over 10%, while AU Small Finance, Bayer Cropscience, and Kirloskar Brothers have risen by 6%.
Among the top losers are UltraTech Cement, which has seen a 4.87% decline, and Hero Motocorp, which has a 2.64% loss. Other losers include Trent, BPCL, and M&M.
Several major Nifty stocks have hit a 52-week low, including Tata Motors, RR Kabel, Havells, PVR, Inox, JNK India, VBL, and Indoco Remedies.
KEI Industries has seen a 20% plunge, while Polycab, RR Kabel, Vijaya Diagnostic, and Inox Wind are also on a losing streak.
Overall, the market is witnessing a mix of gains and losses across different sectors, with banking stocks standing out for their resilience.
