The Indian stock market began the day on a mixed note, with the Sensex and Nifty trading flat amid weak global cues. However, metals stocks managed to outperform the rest of the market.
As per the data available on CNBC TV18, the Nifty50 index opened at 25,400, while the BSE Sensex started trading at 57,400. Both indices saw fluctuations throughout the day, with the Nifty closing around 25,500 and the Sensex down over 450 points.
The market remained volatile throughout the day, with the financials sector seeing significant gains. On the other hand, the consumer goods and IT sectors experienced losses. The metal stocks, however, managed to make a comeback, leading the pack in terms of returns.
According to India Today, the Sensex today closed at 57,350, down over 450 points from its previous close. The Nifty50 index also witnessed significant losses, closing at 25,500. Despite the weak global cues, the metal stocks managed to outperform the rest of the market.
Business Standard reported that the Sensex recouped most of its losses towards the end of the day, with the financials sector leading the gains. The metal stocks also showed significant gains, leaving behind other sectors in the dust.
The market trend was largely influenced by global cues, with weak economic data from several countries contributing to the downturn. However, as per CNBC TV18, the metals sector managed to gain traction, driven by positive news on commodity prices and improved supply chain management.
As the day drew to a close, it became clear that the metal stocks had been the standout performers. The SMIDs (Small and Medium-sized Industries) were also in the green, indicating a sense of optimism among investors.
Key Performance Indicators
- The Nifty50 index closed at around 25,500, down from its previous close.
- The BSE Sensex was down over 450 points from its previous close.
- The metals sector outperformed the rest of the market, driven by positive news on commodity prices and improved supply chain management.
