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On the day of Nifty weekly expiry, the market witnessed a sell-off all around. Nifty has once again slipped below the important support level. After the day's trading on Thursday, 41 out of 50 Nifty stocks closed with a decline. Nifty has slipped to a 2-month low. The midcap index saw a decline of more than 2%. Auto stocks were under pressure today after Bajaj Auto's weak commentary after Q2 results.
At what level did the market close today?
After a full day's work on Thursday, the Sensex closed 495 points down at 81,007. Nifty also closed 221 points down at 24,751. The Nifty Midcap Index closed 960 points down at 58,466. Nifty Bank closed 512 points down at 51,289. Which stocks saw action today? Bajaj Auto witnessed the biggest decline in the last 4 years. The company has given weak commentary on demand and margins, after which pressure is being seen in this stock today. Nestle closed 3% down after weaker than expected results in the second quarter. In a weak market, IT stocks saw good growth. Action was seen in these before the results of Infosys and Tech Mahindra. After strong results of Alcoa, Nalco closed 4% higher today. The positive effect of second quarter results was also seen on Central Bank of India, CRISIL today. Both these stocks closed with gains of up to 3% today. Havells witnessed its biggest single day decline in the last 3 years after its margins were weaker than expected. Brokerage firm UBS has given a Sell rating to SRF instead of Buy, after which the stock closed down by 2%. The brokerage firm has expressed concern over demand. Kolte-Patil Developers closed with a gain of 7% today after the release of sales update. Tata Communications closed down by 5% today after the September quarter results.
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