August 13, 2024
New Delhi, India
Stock Market Live
The Indian equity markets ended Tuesday’s session on a negative note, with both the Sensex and Nifty registering significant losses. The benchmark indices were dragged down by blue-chip stocks such as HDFC Bank and Tata Steel, along with fresh foreign fund outflows and mixed global market cues. By the close of trading, the Sensex had tumbled 693 points, while the Nifty ended below the 24,150 mark.
Market Highlights:
- Sensex and Nifty Performance: The Sensex closed at 78,956.03 down by 0.87%, shedding 693 points, while the Nifty declined by 0.85%, closing at 24,139.00. All sectoral indices ended in the red, with banks, power, oil & gas, metal, media, and telecom stocks losing 1% each.
- Top Losers: Among the major laggards were HDFC Bank, which dropped 3%, and Tata Steel, which lost 2%. Other notable losers included Kotak Mahindra Bank (-1.27%), Bank of Baroda (-1.16%), and SBI (-1.13%).
- Market Breadth: The breadth of the market was negative, with 1,269 stocks advancing and 2,640 declining on the BSE by 3 PM. A total of 4,007 stocks were traded, with 239 hitting a 52-week high and 33 recording a 52-week low. Additionally, 286 stocks traded in the upper circuit, while 284 hit the lower circuit.
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Key Market Movements:
- HDFC Bank Decline: HDFC Bank led the market decline, falling 3% as the stock saw an increase in its weightage in the MSCI index. The decline in such a major banking stock contributed significantly to the overall market downturn.
- Mixed Global Cues: Global markets offered mixed signals, providing little direction for domestic equities. The uncertain global environment, coupled with foreign fund outflows, weighed heavily on investor sentiment.
- Sectoral Performance: All sectoral indices closed in the red, reflecting the bearish sentiment across the board. Notably, the bank, power, oil & gas, and metal sectors each saw a 1% decline, contributing to the broad market sell-off.
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Notable Stock Movements:
- Unicommerce and FirstCry Listings: Despite the overall market gloom, Unicommerce shares made a strong debut, listing with a 118% premium. FirstCry shares also performed well, listing at a 40% premium over the IPO price.
- Gainers: Amid the losses, Titan Company, Apollo Hospitals, Dr. Reddy’s Labs, Tata Consumer, and HCL Tech emerged as major gainers on the Nifty.
- Adani Group Stocks: Adani Group stocks defied the trend, gaining up to 6% during the session, offering some relief in an otherwise downbeat market.
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The Indian stock markets faced a tough day, with the Sensex and Nifty both ending in the red, weighed down by key blue-chip stocks and mixed global cues. As investors continue to monitor global developments and domestic economic indicators, the markets may remain volatile in the coming sessions.
Disclaimer:
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