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News Topical, Digital Desk : The Israel-Iran tension caused panic in the market on Tuesday. After this, Sensex and Nifty closed with a decline. Selling was also seen in midcap and smallcap index stocks. On the sectoral front, pharma, metal and oil & gas stocks also came under pressure. At the same time, realty, PSE and auto indices closed with a decline. However, the IT index managed to close with a gain again today.
Rupee also closed weak against the dollar. It closed at Rs 86.24 per dollar on Tuesday as against Monday's 86.07. 38 out of 50 Nifty stocks saw a decline. Similarly, 21 out of 30 Sensex stocks and all 12 Nifty Bank stocks closed with a decline.
At what level did the market close today?
Nifty closed 93 points lower at 24,853 after a full day's work on Tuesday. Sensex closed 213 points lower at 81,583. Nifty Bank closed 231 points lower at 55,714. On the other hand, Nifty Midcap Index closed 389 points lower at 58,379.
Which stocks showed action today? Pharma stocks have seen a decline in 3 out of the last 4 sessions. Today, after Donald Trump's announcement on pharma tariffs, this decline was seen increasing even more. The defense index was also the index to close in the green today. On the fifth day of tension between Israel and Iran, Indian defense stocks saw a gain of 5%. Mazagon Dock closed up 4%. Sun Pharma, Dr Reddy's Labs, Adani Enterprises, Bajaj Finance and Eternal topped the list of Nifty's weakest stocks today. Hindustan Zinc saw the biggest decline from the midcap. The stock closed down 5% after the company announced a capex plan of Rs 12,000 crore. Tata Motors also saw weakness for the fifth day today. Today this stock closed down 2%. Vishal Mega Mart saw a sharp decline after a block deal. However, the stock improved by about 14% from the intraday low and closed in the green with a gain of 4%. CG Power closed with a gain of 2% after getting an order of Rs 641 crore from Power Grid.
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