Sensex Today | Stock Market Highlights: The Nifty slipped for the fifth consecutive series, marking its longest losing streak in 29 years. The index declined 4% in February and has fallen over 14% in the last five series, highlighting persistent weakness in the broader market.
Sensex Today | Stock Market Highlights: Indian equities ended flat on Thursday as benchmark indices struggled for direction, while midcaps faced heavy selling pressure. The Sensex managed to gain 10 points, closing at 74,612, while the Nifty edged lower by two points to settle at 22,545. However, broader market sentiment remained weak, with the Nifty Midcap 100 index tumbling 565 points to 49,137, reflecting a 1% decline. Market breadth tilted in favor of declines, as midcaps continued to underperform.
Several stocks hit fresh lows, with six Nifty constituents, including Tata Motors, SBI, and Hero MotoCorp, touching 52-week lows. The midcap segment also saw significant damage, with nearly 20 stocks from the Nifty Midcap 100 hitting their lowest levels in a year.
Banking and financial stocks saw some relief after the Reserve Bank of India rolled back the risk weight increase, lifting sentiment in select NBFCs and banks. AU Small Finance Bank, RBL Bank, L&T Finance, Shriram Finance, and Cholamandalam Investment gained between 3-6% following the announcement.
UltraTech Cement’s foray into the cable and wire business dragged down sector stocks, with Polycab India, Finolex Cables, KEI Industries, and Havells declining up to 21%.
