FMCG, select banks help Sensex, Nifty snap 5-day losing streak; Metals dip
CLOSING BELL: Nestle, Titan, Hindustan Unilever and Asian Paints were the major gainers among the Sensex-30 pack; while Tata Steel, IndusInd Bank and Bharti Airtel were the top losers.
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Stock Market Highlights: The benchmark indices snapped their five-day losing streak amid high volatility on Thursday, as FMCG and select banking shares gained, while IT and metal stocks witnessed selling pressure.
The S&P BSE Sensex plunged to a low of 57,159 in the opening hour, but soon recouped losses and thereafter rallied to a high of 57,887. The Sensex finally settled with a gain of 79 points at 57,635.
The NSE Nifty 50 dipped to a low of 16,850, before signing-off the day 13 points higher at 16,986.
Also read: Bank stocks can slide more; stay away for now: Analysts
Nestle, Titan, Hindustan Unilever and Asian Paints were the major gainers among the Sensex 30 stocks, up over 2 per cent each. Sun Pharma, SBI, Tata Motors, PowerGrid Corporation, Bajaj Finserv and Mahindra & Mahindra were the other prominent gainers.
On the other hand, Tata Steel dropped over 3 per cent, and IndusInd Bank slipped 2.3 per cent. Bharti Airtel and Infosys were the other notable losers.
Index heavyweight Reliance Industries hit a fresh 52-week low, and its market-cap dipped below the Rs 15-trillion-mark for the first time since December 06, 2021.
The broader indices, however, ended on a tepid note. The BSE Midcap index was down 0.1 per cent, while the Smallcap index slipped 0.7 per cent.
Sectorally, the BSE FMCG, Oil & Gas, Realty and Power indices jumped over a per cent each, while the Metal index shed 2.7 per cent.
In the broader markets, Zee Entertainment soared over 9 per cent following reports that the media major was planning to settle its dues to IndusInd Bank worth Rs 83.7 crore as early as Friday.
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First Published: Mar 16 2023 | 4:25 PM IST
