Share Market Today: Market Opens Weak, Sensex Falls Over 100 Points, Banking Sector Shows Strong Growth

Share Market Today: The Indian stock market opened on a gloomy tone this week, with the Sensex down 104.47 points to 81,653 and the Nifty down 48.15 points to 24,921. However, the Bank Nifty opened higher, adding 98 points to 56,381. Except for banking and financial services, the majority of indexes traded in negative territory, with the Nifty mid-cap and small-cap categories experiencing significant falls. The top gainers included Data Steel (up 1.62%), HDFC Bank (up 1.47%), and ICICI Bank (up 1.17%). The top losers were IndusInd Bank (down 2.98%), Wipro (down 2.17%), and Axis Bank (down 1.99%).

HDFC, ICICI Bank Q1 Results

The fifth round of India-US trade discussions concludes today, while no formal declaration on a trade accord has been made. Commerce Minister Piyush Goyal has emphasised that India will not compromise on its national objectives, perhaps contributing to global market volatility. HDFC Bank reported a 12.2% increase in profit to Rs 18,155.2 Cr, while ICICI Bank’s profit increased by 15.5% to Rs 12,768.2 Cr, above estimates. However, AU Small Finance Bank and Bandhan Bank produced subpar outcomes. The market’s attention has shifted to impending earnings from UltraTech Cement, Eternal, Havells India, PNB Housing Finance, and Oberoi Realty, as well as Antam Biosciences’ IPO filing. Despite early signals of weakening, the market's performance at the close remains to be seen.