Sensex Slips 280 pts; Nifty Below 25,100; Paytm Down 8%, Reliance Power 4%
Stock markets remained volatile on Thursday, weighed down by weak global cues. Investors continued to evaluate the implications of the US-China trade deal, while rising tensions between the US and Iran pushed oil prices higher, adding to market jitters.
The BSE Sensex dropped 136 points or 0.16% to close at 82,379, while the Nifty50 declined 44 points or 0.17% to 25,098.
Top gainers on the Sensex included Asian Paints, Bajaj Finserv, Sun Pharma, Bajaj Finance, and NTPC. On the flip side, Infosys, Eternal, Tata Motors, M&M, and HUL were among the top laggards.
Broader markets also remained weak, with the Nifty MidCap and Nifty SmallCap indices down 0.34% and 0.3% respectively.
On the sectoral front, Nifty Pharma was the sole gainer, rising 1%, while Nifty IT declined 0.7%, dragging the market lower.
Stocks in Focus
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Paytm (One 97 Communications): Shares fell 10% to ₹864.20 on the BSE amid heavy intra-day volumes, following the Finance Ministry’s denial of reports that merchant discount rates (MDR) would be levied on UPI transactions.
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Asian Paints: Witnessed a large block deal in the pre-open session, with 35 million shares changing hands on the NSE.
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