Stock Market Highlights: The Sensex fell 123 points to 77,989, while the Nifty 50 declined 35 points to 24,197, slipping below the 24,200 mark. The Nifty Bank dropped 216 points to 56,086, while the midcap index outperformed, rising 369 points to 59,147, with market breadth remaining positive at an advance-decline ratio of 2:1.
The Nifty Bank dropped 216 points to 56,086, while the midcap index outperformed, rising 369 points to 59,147, with market breadth remaining positive at an advance-decline ratio of 2:1.
Among stocks, HDB Financial Services Ltd. gained 7% on strong Q4 results, while ICICI Lombard General Insurance Co. Ltd. rose 2% after reporting in-line earnings. Hindalco Industries Ltd. extended gains, rising 3%.
On the downside, Tejas Networks Ltd. fell 4% after reporting losses for the fifth straight quarter, while GMR Airports Ltd. declined over 2% on muted traffic growth. HDFC Life Insurance Co. Ltd. also fell by over 1% ahead of its Q4 results.
Stocks such as Supreme Industries Ltd. and Astral Ltd. dropped up to 4%, tracking crude price movement, while auto stocks saw mixed action with Hero MotoCorp Ltd. falling over 2%.