While the stock market gained for the previous two days, today, the market is having mixed sentiments. The selling pressure has been built especially in the IT sector, which is somewhat pulling the overall market down.
The dip in the IT sector came as TCS stated that the sector might continue to perform sluggishly due to the recession fear and negative global market cues.
Nifty 50 today opened at 19822.70, up from its previous day’s close of 19811.35, however, now, it is around 19812.70, gaining only 0.01% in the share market today.
Sectors in the Green
NSE Media Sector Today
Though the market is volatile today, filled with mixed sentiments from investors, the media sector is also on its way up. The Nifty Media Index gained 3.23% until 11:35 a.m. today and has been the best-performing sector.
- Network 18 has been the top gainer in this sector today, pouring in around 13.85% gains until now. The surge in the stock price is entirely based on the day’s market movement during the festive season.
- TV18 Broadcast is the second stock in this sector to gain around 8.43% until now, and the reason behind the rise remains the same.
NSE Metal Sector Today
Nifty Metal index is up by 1.13% until now, and the main pulling forces include NMDC, National Aluminium Company, and others.
- NMDC gained around 5.39% until now, mostly based on market movement.
- National Aluminium also surged by around 4.54% following the appointment of Shri Jagdish Arora as Director of Projects and Technical.
NSE Oil & Gas Sector Today
After the government affirmed closely monitoring the oil prices so that it does not get much affected by the Israel-Hamas situation, the oil & gas sector has gained significantly today. The Nifty oil and gas index has surged by around 1.03% in today’s share market.
- GAIL has been the top stock in this sector until now, with gains of around 2.91% riding on the global market sentiments and crude oil prices.
- Castrol India gained 2.24% today until 11.56 a.m.
Sectors in the Red
NSE IT Sector Today
The IT sector is the worst-performing sector until today’s first half of the stock market. The Nifty IT index has dipped by 0.59% until now from its previous day’s close of 32548.05.
- TCS has been the biggest loser until now in this sector, which tanked by 1.50% following its announcement of interim dividend and second quarter’s results.
- Tech Mahindra is the second top loser in this sector until now, losing around 0.64%. This is an effect of the negative sentiments around TCS in the share market today, affecting the entire IT sector.
NSE Realty Sector Today
After a few days of rally, the realty sector today is in the red. The Nifty Realty Index has declined by around 0.57%, with all its constituents in the red except Swan Energy, which has gained around 5.60%. Godrej Properties is now the top loser in this sector, losing around 1.75%.
The second quarter results of the IT sector have not been as expected and promising, which has brought in selling pressure in this sector, which is reciprocated around the share market today on top of that, mixed global cues, tension of crude prices, and recession fear are all engulfing the market’s confidence and increasing the volatility.
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I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
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