The significant announcements regarding GST reforms in the country had a noticeable impact on the Indian stock market during early trading. Right from the opening bell, both the Sensex and Nifty indices charged ahead with a storm of speed, but as the market closed, the initial momentum slowed down. However, for the second consecutive day, both indices managed to close in the green zone. The Bombay Stock Exchange's 30-share Sensex settled with a rise of 150.30 points, while the National Stock Exchange's Nifty index concluded the day with a minor gain of just 19 points. Notably, the Sensex had initially leaped over 600 points at the start of trading.
Sensex Closes Just Below 80,000
Upon market opening, BSE's Sensex surged exuberantly to 81,456.67, compared to its previous close of 80,567.71. It maintained this upward trajectory throughout the day. However, in the final hours of trading, its pace swiftly decelerated, falling to 80,608.94, before closing up by 150.30 points at 80,718.01.
Nifty Mirrors Sensex Performance
The NSE Nifty index mirrored the Sensex's performance, opening at a promising level of 24,980.75 in early trade compared to its last close of 24,715.05. Yet, as trading wound down, its earlier 250+ point surge whittled down to merely 19.25 points, closing at 24,734.30.
Top 10 Gainers in Stock Market
In terms of stocks that closed with notable gains, Mahindra & Mahindra (5.96%), Bajaj Finance (4.28%), Bajaj Finserv (1.98%), Trent (1.35%), and FMCG leader ITC (1.06%) ended on a high in the large-cap category. Meanwhile, in the mid-cap sector, Gillette (4.33%), Emami Limited (3.95%), Jubilant Foods (3.19%), Thermax (2.43%), and IDFC First Bank (2.41%) closed with gains.
Selling Pressure Visible
Amidst the market upswing, selling pressure was also observed, causing shares of several major companies to decline and close in the red. In the large-cap sector, shares like Maruti (1.78%), BEL (1.61%), HCL Tech (1.57%), NTPC (1.24%), and Infosys (1.08%) drifted lower. In the mid-cap arena, previously soaring stocks like Olectra (6.34%), Paytm (3.65%), Exide (3.14%), and First Cry (2.90%) showed a downward trajectory.
