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The Indian stock market witnessed a mixed performance on Wednesday, with the benchmark indices, BSE Sensex and NSE Nifty, ending in the red. However, a number of individual stocks surged by more than 10%, defying the overall market trend.
The 30-share Sensex closed 138.74 points lower at 80081.98, while the 50-share Nifty index ended the day at 24435.5, down by 36.6 points. Despite the overall decline, several stocks registered impressive gains, with Dhanalaxmi Roto leading the charge, rising by an impressive 14.94%.
Other notable performers include Foods & Inns, which surged by 14.23%, followed by Dhampure Special (13.39%), Dynamic Cables (13.23%), Interarch Building (12.70%), Gujarat Craft (12.69%), Amber Enterprises (12.66%), AVI Products India (12.56%), Network Ltd (12.08%), and Firstsource (12.07%).
In the Nifty 50 index, 20 stocks managed to close in the green, while the remaining 30 ended the day in the red. Meanwhile, stocks like Mohite Industries, Interarch Building, Amber Enterprises, Firstsource, and Coforge hit their fresh 52-week highs, demonstrating strong investor confidence in their performance.
On the other hand, Rajesh Exports, Yash Chemex Ltd., Advik Capital, Coffee Day Ent, and Globale Tessile reached their new 52-week lows, indicating challenges faced by these companies. The market witnessed a mixed performance, with some sectors and individual stocks performing well while others struggled to gain traction.
The day's trading reflected the volatility and uncertainty prevailing in the global market, with investors reacting to various domestic and international factors. While the overall trend was negative, the strong performance of certain stocks suggests selective opportunities for investors willing to navigate the market nuances.
Source: Stocks Surged: Sensex falls! But these stocks gained over 10% on BSE