Indian equities extend bearish trend, Axis Bank shares surge amid overall market downturn By Investing.com
The bearish trend in Indian equities continued for the sixth consecutive session on Thursday, influenced by global market trends and tensions arising from the Israel-Hamas conflict. The index experienced a substantial drop of over 450 points, while the NSE Nifty 50 fell below the crucial level of 19,000 points.
Despite the general downward trend, shares of Axis Bank surged following a reported Q2 net profit increase of 10% to Rs 5,329.8 crore (Rs 1 crore = $120,127). This rise in Axis Bank’s shares stood in stark contrast to the overall market performance.
As of 9:25 am on Thursday, Sensex was down by 457.30 points or 0.71% at 63,591.76 and Nifty50 was down by 154.90 points or 0.81% at 18,967.25. The bearish trend persisted throughout the day until closing, with Sensex ending at 63,641.31 (down by 407.75 points or 0.64%) and Nifty50 closing at a lower mark of 19,002.50 (down by 119.65 points or 0.63%).
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