Nifty Below 19400, Sensex Slumps 542 pts; Realty, Financial Bear the Brunt

 

Sensex and Nifty Today Aug 3, 2023: Indian stock markets ended the volatile session in deep red on Thursday. The market sentiments were negative due to weak global cues and FIIs outflow. The volatility in the markets was due to the expiry of week index options on the NSE.

The domestic traders have overlooked the surge in Indian Service PMI reading, which rose to a 13-year high in July compared to the previous month. Traders also ignored the foreign Brokerage firm Morgan Stanley’s recent upgrade to India’s status to ‘overweight’,

Meanwhile, India and the UK are close to concluding negotiations for a proposed free trade agreement (FTA), chief negotiators of both countries will hold the 12th round of talks from August 7. Both sides are looking at concluding the talks before the end of the year. 

 

Stock Market Indexes Today

 

The Nifty 50 index closed lower by 144.90 points or 0.74 percent and closed at 19381.65 levels while the Sensex was down by 542.10 points or 0.82 percent and finished at 65240.68 levels. The Bank Nifty index ended lower by 482.25 points or 1.07 percent on the spot level and closed at 44513.45 levels.

The broader markets outperform their larger peers today, as the Nifty midcap index was up by 93.45 points or 0.25 percent and closed at 37326.15 levels. The Nifty smallcap index ended higher by 13.80 points or 0.12 percent at 11609.85 levels.

 

Nifty 50 top gainers & losers 

 

The top gainers in the Nifty 50 index were Adani Enterprise, Adani Ports, Eicher Motors, Divis Labs, and Infy and the top losers were ICICI Bank, ONGC, Bajaj Finserve, Coal India, and Ultratech Cement

The top gainers in the Nifty midcap index were IRFC, Mankind, and Dixon and the top losers were Godrej Properties, LIC Hsh, and Gujarat Gas

The smallcap top gainers were IDBI, Welspun, and Hind Copper while the top losers were Brightcom Group, Elgie Equipment, and Suzlon

The most active stocks in the Nifty index in terms of value were HDFC Bank, ICICI Bank, and SBI. The most active stocks in terms of volume were  Tata Steel, ICICI Bank, and NTPC

On the sectoral front, Media and Pharma closed higher while the sector that closed in the red were Realty, Financial Services, and Banks

 

Global Stock Market Today

 

The other Asian stock market indexes closed mostly lower on Thursday, extending their previous session losses, tracking a selloff from Wall Street overnight. Nikkei fell sharply extending its previous session losses. Kospi erased early gains and closed lower. Hang Seng closed marginally lower in the final hour of trading. Shanghai reversed early losses after Caixin Services PMI reading improved in July.

European stock market indexes are trading lower ahead of the Bank of England interest rate decision, which is expected later in the day. All sectors are trading in the negative territory, with IT stocks leading the losses followed by Auto.

 

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Happy Investing!!

Editorial desk