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News Topical, Digital Desk : Amid rising tensions in West Asia, the Indian stock market was under pressure in the first session of the week. Nifty and Sensex closed with a decline on Monday. Midcap and smallcap stocks also saw recovery from lower levels. Buying was seen in defense stocks amid war-like conditions. On the sectoral front, PSE and metal index closed on a rise. At the same time, IT, auto and FMCG index closed on a decline. At the same time, pressure was seen in banking and pharma stocks.
The market saw an intraday recovery, but it could not sustain and Nifty closed below 25,000. The broader market managed to outperform for the second consecutive session. Oil marketing companies and paint stocks showed recovery after Brent crude oil slipped below $77 a barrel in the international market.
At what level did the market close? After a full day's work on Monday, the Sensex closed 511 points lower at 81,897. Nifty closed 141 points lower at 24,972. Nifty Bank closed 194 points lower at 56,059. At the same time, the Nifty Midcap index closed 211 points higher at 58,207. Which stocks saw action throughout the day? Buying in defense stocks continued amid new orders and Iran-Israel tensions. Garden Reach Shipbuilders closed with a gain of 6%. IT stocks remained under pressure after Accenture's results. Infosys closed down 2%. Metal stocks also saw a recovery in intraday. Hindalco Industries managed to close near the day's high. The government has proposed to make ABS mandatory for two-wheelers. After this, auto stocks came under pressure. Bajaj Auto closed down 1%. Diagnostic stocks came under pressure after Amazon's entry into the sector. Dr Lal Path Labs closed down 4%. IdeaForge closed with a gain of 10% after receiving an order of Rs 147 crore from the Defense Ministry. NBCC closed with a gain of 2% after receiving an order of Rs 297 crore. Zee Enterprises closed with a gain of 11%. The company says that Z5 will achieve breakeven by the financial year 2026. After the news of possible inclusion in Nifty, BSE closed with a gain of 3% and IndiGo closed with a gain of 1%.
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