Sensex, Nifty End Lower Second Day In A Row, Broader Markets Outperform
The benchmark indices slipped lower for the second day in a row led by decline in Banking and IT stocks on Friday, July 9. The broader markets however marked a positive day as investors pumped in money.
During the day's trade, the 30-share pack Sensex closed lower by 182.75 points at 52,386.19, with declines in 20 shares out of 30. Shares of Reliance, HDFC Bank, and TCS contributed the most in the fall as they declined over a per cent each.
Among the sectors, the Auto, IT, Banks, Financials, and Energy sectors ended in the red, while all other sectors saw buying interest. The Metal index climbed two per cent led by advances in Tata Steel(+4.17 per cent), Vedanta (+2.65 per cent), and NALCO(+2.58 per cent).
"We believe, the broader market indices have formed a higher base that has set the stage for the next leg of up move. We expect the broader market to endure its relative outperformance in coming weeks," said ICICI Securities in a note.
The broader markets edged higher amid volatility in the benchmarks. Both BSE Midcap and Smallcap indices surged half a per cent each during the intraday session on Friday. In the Midcap space, AU Small Finance Bank, Motilal Oswal, and Oracle Financial Services ended among the top gainers, adding over four per cent each.
In the overall market breadth, 1693 shares advanced, 1252 shares declined, and 107 shares were unchanged.
_20240521145225original_image_12.webp)
