Stock market closes with a slight loss

After two consecutive days of gains, the stock market on September 29 with a small loss. The market, which had started the morning with gains over the past two days, has been gaining ground since then.

The Sensex is down eight points and the Nifty is down five points. The Sensex has gained over 1,400 points in the last two days. Although it had risen as high as 250 points in the morning, booking of profits by investors was high later in the day pushing the market lower.

The Sensex ended at 37,973 points. It rose to 38,236 points but could not close above 38,000. The stock market started the morning on a positive note following the rise in the US market.

The Nifty was up by 11,305 points in the morning trade. Following the gains, it fell to 11,181 points. At the same time, the Nifty closed above 11,200 at 11,222 points.

Most of the 50 stocks in the Nifty are down. Thirty-two stocks lost while only 18 stocks gained. Hindalco, Ultratech Cement, Hero Motors, Titan Industries and TCS were the top gainers today. Hindalco gained 5.31 per cent. Shares of Ultratech Cement, Hero Motors, Titan Industries, TCS, Tata Steel and JSW Steel gained over 2 per cent.

UPL, ONGC, IndusInd Bank, PowerGrid and Axis Bank were the top five gainers in the Nifty. Shares of UPL, ONGC, IndusInd Bank and PowerGrid lost over 3 per cent each.

Bank stocks fell while metal stocks gained. The Nifty Metal Index gained 1.96 per cent. Meanwhile, the Nifty Bank Index fell 2.18 per cent.