Dear Trader…
Sensex settled at 80,599.91, down 585.67 points or 0.72 per cent. The 30-share index started the session in negative territory at 81,074.41 against last session’s closing of 81.185.58, following the tariff threat by US. The index further extended the falling momentum amid overall selling pressure-especially in Pharma and IT sector. The index touched intra-day low at 80,495.57.
Tata Steel, Maruti Suzuki, Infosys, Tata Motors, Tech Mahindra, Bharti Airtel, BEL, Bajaj FinServ, ICICI Bank, HCL tech, Mahindra and Mahindra, and TCS were the top losers from the Sensex basket. While Trent, Asian Paints, Hindustan Unilever, ITC were settled in green.
Majority of sectoral indices closed in negative territory led by Nifty Pharma (down 759 points or 3.33 per cent). Nifty Auto fell 244.90 points or 1.04 per cent, Nifty IT ended the session 652 points or 1.85 per cent down and Nifty Bank closed 344.35 points or 0.62 per cent down. Nifty FMCG closed in green, up 384 points.
Markets began the August series on a negative note, extending the prevailing corrective trend, and ended lower by over half a percent. Nifty futures opened at 24800 points against the previous close of 24871 and opened at a low of 24601 points. Nifty Future closed with an average movement of 253 points and a decline of around 244 points and 24627 points…!!
The broader indices followed the suit as well with Nifty Midcap 100 falling 763 points or 1.33 per cent, Nifty Small cap 100 slipped 298 points or 1.66 per cent and Nifty 100 ended the session 230 points or 0.91 per cent lower.
On the sectoral front, pharma, metal, and IT were among the top losers. The broader indices also witnessed sharp cuts, each losing nearly 1.5 per cent, resulting in a significant decline in market breadth.
At the start of intra-day trading, August gold opened at Rs.97986, fell from a high of Rs.98880 points to a low of Rs.97700 with a rise of 793 points, a trend of around Rs.98880 and September Silver opened at Rs.1,09,854, fell from a high of Rs.1,10,460 points to a low of Rs.1,09,113 with a rise of 363 points, a trend of around Rs.1,10,335.
Meanwhile, Markets continue to grapple with a mixed earnings season, while the recent tariff announcement and persistent foreign fund outflows are further weighing on sentiment.
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