Indian Indices Experience Modest Losses; Metal Shares Continue to Rally
Indices trade lower; metal shares shine for 2nd day
Business Standard
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Indian stock indices faced modest losses in early afternoon trading despite positive global cues, with the S&P BSE Sensex down 0.46% and the Nifty 50 down 0.37%. However, metal shares saw significant buying interest for the second consecutive day, with the Nifty Metal index rising 1.46%.
- 01S&P BSE Sensex fell 333.61 points or 0.46% to 77,753.97.
- 02Nifty 50 index decreased 92 points or 0.37% to 24,144.10.
- 03Nifty Metal index surged 1.46%, marking a 3.26% increase over two days.
- 04John Cockerill India gained 3.62% after securing a ₹300 crore contract.
- 05Tejas Networks reported a net loss of ₹211 crore in Q4 FY26.
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In early afternoon trading, the key domestic indices in India recorded modest losses despite favorable global market conditions. The S&P BSE Sensex declined by 333.61 points or 0.46%, settling at 77,753.97, while the Nifty 50 index fell 92 points or 0.37% to 24,144.10. The broader market displayed mixed performance, with the BSE 150 MidCap Index down 0.07% and the BSE 250 SmallCap Index up 0.23%. Notably, the Nifty Metal index rose by 1.46%, reflecting strong buying interest for the second consecutive day, driven by companies like Hindalco Industries and Hindustan Zinc, which saw gains of 3.04% and 2.81% respectively. Additionally, John Cockerill India jumped 3.62% after winning a ₹300 crore contract from JSW Steel Coated Products, while Alembic Pharmaceuticals advanced 2.05% following FDA approval for its Methotrexate Injection. Conversely, Tejas Networks faced a significant drop of 4.25% after reporting a net loss of ₹211 crore in the last quarter.
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Investors in metal shares may benefit from the ongoing rally, while those holding shares in Tejas Networks may need to reassess their positions due to the company's significant losses.
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