Today, the Indian stock market experienced notable fluctuations influenced by various factors. The benchmark indices, Nifty 50 and BSE Sensex, initially showed promise but reversed early gains due to global trade concerns and a significant decline in Reliance Industries’ stock, which dropped 3.7%, marking its worst session in five months.
Despite India’s economy expanding by 6.2% in the October-December quarter, investor sentiment remained cautious. The announcement of U.S. tariffs on Canada, Mexico, and additional Chinese imports added to the uncertainty. Most major sectors fell, except for the auto and IT sectors. Automakers like Mahindra & Mahindra and Eicher Motors gained due to better-than-expected sales, while Hyundai Motor India posted lower-than-expected sales. The IT index rose, supported by positive commentary from brokerages following Salesforce’s growth projections.
In specific stock movements, NTPC Ltd.’s shares rose by 1.14% to ₹314.50, outperforming competitors like Tata Power Co. Ltd. and Torrent Power Ltd.
Tata Consultancy Services Ltd. saw a modest increase of 0.36% to ₹3,496.55, though it underperformed compared to peers such as MphasiS Ltd. and Wipro Ltd.
Dr. Reddy’s Laboratories Ltd. experienced a slight increase of 0.19%, closing at ₹1,119.80, outperforming the general market trend.
Conversely, Maruti Suzuki India Ltd. declined by 1.48% to ₹11,768.40, underperforming the broader market.
Infosys Ltd. shares increased by 1.19% to ₹1,708.10, despite a challenging day for the stock market.
Overall, the Indian stock market today reflected a mix of gains and losses across various sectors, influenced by both domestic economic indicators and global trade developments.
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