Nifty Closes Below 24,400; Bank Nifty Hits 3-Week Low, India VIX Surges Above 19
Indian frontline indices ended in the red on Tuesday. The BSE Sensex closed 155 points lower (0.19%) at 80,641, while the Nifty 50 ended 81 points down (0.33%) at 24,379. The Nifty 50 snapped its two-day winning streak, dragged by financials as investors booked profits after recent gains. Meanwhile, weak earnings from state-run Bank of Baroda weighed on the market
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The Nifty PSU Bank index plunged nearly 5% in just a single day, emerging as the top-losing sector and touching a 3-week low. The index witnessed the highest fall in the last 11 months.
Shares of Bank of Baroda slumped over 10%, its worst performance in 11 months, after it posted lower quarterly net interest income. The board of directors has proposed a dividend of ₹8.35 per share of the face value of ₹5 each.
At the close, the biggest contributors to the Nifty 50’s gains were as follows: Bharti Airtel (+22.86 points) and M&M (+12.14 points). Meanwhile, SBI (-16.49 points) and Reliance Industries (-9.70 points) pulled the index down.
The broader market indices ended higher, with the Mid-cap and Small-cap 100 indices slipped by 2.27% and 2.5%, respectively, while 16 out of 17 major sectoral indices ended in the negative territory.
As of May 6, 2025, the Indian stock market witnessed positive market breadth. Out of 2,946 stocks traded on the NSE, 545 advanced, 2,331 declined, and 70 remained unchanged.
A total of 25 stocks touched their 52-week highs, while 56 hit their 52-week lows. Additionally, 35 stocks were locked in their upper circuits, whereas 122 stocks were in lower circuits.
Disclaimer: The article is for informational purposes only and not investment advice.
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