Market Update: Benchmark Indices Close Lower on Wednesday, Sensex and Nifty Decline by 0.04% and 0.08% respectively

The stock market witnessed a mixed trading day on Wednesday, with benchmark indices closing on a lower note. The Sensex marginally declined by 0.04 per cent, closing at 73,876.82 level, while the Nifty also saw a decrease of 0.08 per cent, closing at 22,434.65 level.

Despite the decline in benchmark indices, the broader market experienced significant gains. Nifty Midcap closed with a moderate gain of 0.59 per cent, while Nifty Smallcap soared by 1.12 per cent.

Market volatility, as indicated by India VIX, decreased by 2.4 per cent, reflecting a decrease in market volatility. Nifty PSU Bank, Nifty IT, Nifty Media, and Nifty Financial Services were among the top gainers, while Nifty Realty, Nifty FMCG, Nifty Auto, and Nifty Pharma underperformed.

Top gainers in individual stocks included Shriram Finance, NTPC, and Divi’s Laboratories, while Nestle India, Bajaj Auto, and Dr Reddy’s Laboratories were among the top losing stocks from the Nifty 50.

Overall, the market sentiment was positive, with 1564 stocks advancing compared to 552 stocks declining. Investors are closely monitoring the market movements and staying informed about sector performances to make informed investment decisions.