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News Topical, Digital Desk : In the second trading session of the week, the Indian market closed with weakness even after a 'Tuesday' start. On Tuesday, Nifty and Sensex closed with a decline by the end of the session. Today, pressure was also seen in midcap and smallcap stocks. Even Nifty Bank reached a record high in early trading, but closed down from there. This weakness in the market was seen due to poor global signals. At the same time, there was underperformance in largecap stocks as well. Instead of gains in 2 stocks, 3 stocks showed weakness. Nifty failed to maintain the level of 24,600. Nifty Bank managed to make a record level of 56,161.
45 out of 50 Nifty stocks closed in the red. These showed weakness of up to 2%. On the sectoral front, PSE, energy and oil & gas stocks remained under pressure. Buying was also seen in realty and defense stocks.
At what level did the market close After a full day's work on Tuesday, the Sensex closed 636 points lower at 80,738. Nifty closed 174 points lower at 24,543. Nifty Bank closed 303 points lower at 55,600. Nifty Midcap Index closed 259 points lower at 57,517.
Which stocks showed action today Just before the release of May figures, a big decline was seen in life insurance stocks. These stocks were seen slipping by 1-3%. Many stocks saw a big decline after the block deal. Yes Bank closed down by 10% and Ola Electric Mobility by 8%. Fertilizer stocks rose on hopes of better agri outlook due to early monsoon. Buying was also seen in shipyard companies today. Cochin Shipyard and Garden Reach Shipbuilders closed with a gain of 6%. Vodafone Idea closed down by 4% again today. CNBC-TV18 has quoted sources in a report that the company has little hope of relief on the AGR front. There was buying in realty on hopes of interest rate cut. Nifty Realty Index closed with a gain of 1%. Bata India also showed weakness after another brokerage downgrade. Oil marketing companies, tire and paint stocks closed down based on the movement of crude oil in the international market. Stocks related to capital market continued to rise today as well. BSE and MCX topped the list of fastest stocks in this sector. Hindustan Zinc was the fastest stock in midcap.
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