August 2, 2024
New Delhi, India
Markets Live
The Indian stock market experienced significant declines today, with the Sensex and Nifty50 indices both opening lower due to weak global cues. As of the latest updates, the broader indices were seen attempting to recoup earlier losses, although most sectors were trading in the red.
Key Market Movements:
1. Major Indices Performance:
- Sensex: The BSE Sensex fell by 885.59 points, hitting a low of 80,981.95 and was down 1.08%.
- Nifty50: The Nifty50 index dropped to 24,717.70, down 293.20 points or 1.17%.
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2. Sector Performance:
- Top Gainers on BSE: ITC and HUL led the gains.
- Top Laggards on BSE: Maruti Suzuki, Tata Motors, and Eicher Motors were among the top losers.
- Top Gainers on NSE: Apollo Hospitals and Nestle.
- Top Laggards on NSE: JSW Steel and Tata Steel.
3. Broader Market Indices:
- BSE MidCap and SmallCap: Both indices were down by 0.6% and 0.3%, respectively, showing some recovery from an over 1% fall earlier in the day.
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4. Sectoral Impact:
- Nifty Auto and Metal: These indices plunged nearly 2%, reflecting significant pressure on auto and metal stocks.
- Pharma and Healthcare: These sectors were the only ones trading in the green, indicating some resilience amid the broader market sell-off.
Market Sentiment:
1. Global Cues: Indian stocks mirrored the global market’s negative sentiment, driven by disappointing U.S. economic data that raised concerns about a potential slowdown in the world’s largest economy.
2. Broader Market Impact:
- Domestic Focus: The more domestically focused small- and mid-cap indices each dropped 1%, aligning with the broader market’s bearish trend.
- Zomato: Defying the overall market mood, Zomato shares surged by 8% following a strong Q1 performance.
3. IPO Watch:
- Ola Electric IPO: The initial public offering of Ola Electric Mobility Limited opened today, adding a focal point for investors amid the market turbulence.
More to come…
Disclaimer:
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