Bears dominate the market as IT, pharmaceutical, and banking companies sell
Rekha Prajapati January 04, 2025 06:27 PM

On Friday, bears gained control, pushing the Nifty almost below the pivotal 24,000 mark. While purchasing in media and oil and gas, selling was seen in the names of IT, Pharma, and Banking.

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At the closing, the Nifty was down 183.90 points, or 0.76 percent, at 24,004.75, while the Sensex was down 720.60 points, or 0.90 percent, at 79,223.11.

The Sensex fluctuated between 80,072.99 and 79,109.73 throughout the day, while the Nifty hit a high of 24,196.45 and a low of 23,976.00.

Oil & Natural Gas Corporation (5.21%), Tata Motors (3.31%), Titan Company (1.85%), SBI Life Insurance Company (1.79%), and Hindustan Unilever (1.53%) were the top-performing companies on the Nifty, while Wipro (4.08%), HDFC Bank (2.48%), Tech Mahindra (2.17%), Adani Ports & Special Economic Zone (2.16%), and ICICI Bank (1.98%) were the bottom-performing companies.

ITI, Lloyds Metals, Apar Industries, KIMS, Info Edge, Authum Investment, Firstsource Solutions, BLS International, Coromandel International, PB Fintech, Jubilant FoodWorks, 360 ONE WAM, Radico Khaitan, Eicher Motors, United Spirits, Ipca Labs, M&M, Muthoot Finance, HCL Technologies, and Welspun Corp. were among of the 200 stocks on the BSE that reached their 52-week high.The BSE smallcap index finished unchanged, while the midcap index fell 0.33 percent.

Banks, capital goods, IT, and pharmaceuticals all had 1% declines, while oil and gas and the media saw 1% increases. While the IT and pharmaceutical sectors finished in the red, the energy and FMCG sectors concluded in the green.The Bank Nifty index witnessed selling pressure after opening marginally lower, and it ended the day down at 50,989.

India VIX, a measure of volatility, decreased by 1.43 percent to 13.54, indicating a decrease in market volatility. Early trading today saw a 5.11 percent increase in ONGC shares, driven by a four-day spike in crude oil prices.Titan Company’s stock increased by about 2% to reach the highest price on the BSE of Rs 3,457.

Following the news of a significant order worth over Rs 1000 crore, Afcons Infra shares increased 7% at closing, while RITES shares increased 0.63 percent. Hero MotoCorp’s stock ended the day down 1.66 percent, with the lowest fall being 3 percent.

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