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The Indian stock market experienced a downward trend on a recent trading day, with the benchmark indices, NIFTY50 and SENSEX, experiencing significant declines. This downturn was primarily attributed to the performance of Reliance Industries, a major player in the market. Despite the negative performance of these leading indices, the broader market showed signs of resilience, outperforming the key benchmarks.
The decline in the NIFTY50 and SENSEX was largely driven by the weakness in Reliance Industries. The company's shares faced selling pressure, contributing to the overall bearish sentiment in the market. The impact of Reliance's decline was significant enough to pull down the major indices, reflecting its substantial weight in the market.
However, while the key indices experienced losses, the broader market demonstrated a contrasting performance. Several sectors and stocks managed to outperform the NIFTY50 and SENSEX, suggesting that the market sentiment remained mixed. This divergence highlights the selective nature of the current market, where individual stocks and sectors are exhibiting distinct trends.
Source: NIFTY50 and SENSEX extended its fall dragged down by Reliance, broader market outperform