Business Economy


Market fails to build on opening hours gains, nears day's low on final hour selling

New Delhi, Nov 6 (UNI) The stock market on Thursday failed to build on the gains recorded in the opening hours, and remained rangebound throughout the session.
The final hour selling pressure dragged the Nifty below 25,500 before closing near day's low, amid selling across the sectors.
At close, the Sensex was down 148.14 points or 0.18% at 83,311.01. On the other hand, Nifty was down 87.95 points or 0.34% at 25,509.70. BSE Midcap index fell 1.2%, and smallcap index shed 1.5%.
The overall market capitalisation of BSE-listed firms dropped to below Rs 466 lakh crore from nearly Rs 470 lakh crore.
Among the sectors, only Nifty IT (0.18%) and Auto (0.06%) managed to end in the green.
On the other hand, Nifty Media down by 2.54%, Metal down by 2.07%, Consumer Durables down by 1.98%, and Realty down by 1.51% ended with deep losses while Nifty Bank also fell 0.47%.
On Nifty50, those ending as top gainers were, the shares of Asian Paints was up 4.64%, Reliance Industries was up by 1.47%, and UltraTech Cement was up 1.04%.
Further, the shares of Grasim Industries were down 6.42%, Hindalco Industries down by 5.39%, and Adani Enterprises was down by 4.50% ending as the top losers.
Out of 4,353 stocks traded on the BSE, 1,202 advanced, while 3,012 declined. Some 139 stocks remained unchanged.
More than 120 stocks touched their 52-week high on the BSE while 173 stocks fell to their 52-week lows.
Those hitting highs were CCL Products, Paytm, Navin Fluorine, RBL Bank, SBI, Laurus Labs, AU Small Finance Bank, 3M India, Titan Company, Chennai Petro, BPCL, City union Bank, among others.
Deepak Nitrite, Clean Science and Technology, Cohance Lifesciences, Crompton Greaves Consumer Electricals, Godrej Agrovet, Jindal Saw, KNR Constructions, Maharashtra Seamless, Tejas Networks, and Vedant Fashions were among the stocks that fell to their 52-week lows.
The market is discounting earnings recovery from Q3 onwards. However, the uncertainties over US tariffs and their economic fallout keep investors cautious.
UNI VK SAS RN
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