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Stock Market Updates Today: Among the top losers were Adani Ports, Reliance, Infosys, ICICI Bank, Eternal, and BEL falling by up to 2.02%.
Sensex Today.
Stock Market Updates Today: Domestic equity markets remained weak on Tuesday, trading in a narrow range despite positive global cues, with oil & gas stocks leading the decline amid concerns about future import restrictions on Russian oil. The BSE Sensex declined by 308.47 points to close at 80,710.25, while the NSE Nifty dropped 73.2 points to end the day below the 24,650 mark, at 24,649.55.
Among the 30 companies on the Sensex, 14 stocks (including heavyweights like Reliance and HDFC Bank) closed in the red. Among the top losers were Adani Ports, Reliance, Infosys, ICICI Bank, Eternal, and BEL falling by up to 2.02%.
Among the top gainers were Titan, Maruti Suzuki India, Trent, Bharti Airtel, Bajaj Finance, and Larsen & Toubro rising by up to 2.16%.
Broader markets also closed in red after an initial buying in morning, with the BSE SmallCap closing lower by 0.27% and the BSE MidCap declining by 0.14%.
Sector-wise, oil & gas, pharma, FMCG, IT, financial services, and realty were the top losers. However, auto, metal, and consumer durables were gainers.
Stock-Specific Action
Triveni Turbine became the top loser among the Nifty 500 stocks crashing by 9.74% following its Q1 results. Britannia Industries also fell 2.62% ahead of its earnings. The BSE was down 4.8%. Biocon fell by 2.63%.
Paytm also tumbled 2.34% as its promoter Antfin (Netherlands) Holding B.V. decided to sell its entire 5.84 per cent stake worth Rs 3,803 crore in the company via a block deal.
Among the gainers, Godfrey Phillips India surged by 9.92% after its Q1 results. Chambal Fertilisers was also up by 7.65%. Bharti Airtel rose 0.90% ahead of its Q1 earnings.
TVS Motor Company hit its all-time high to touch Rs 2,988.9 apiece on the NSE.
Experts’ View
“Despite positive global cues, domestic markets remained rangebound in negative territory. Oil & gas stocks led the decline amid concerns about future import restrictions on Russian oil. Weakness persisted on Pharma and IT stocks which are among the largest exporters to the US. Sentiment was also weighed by the rupee depreciation,” Vinod Nair, head of research, Geojit Investments Limited.
In contrast, auto stocks continue to gain traction from July volumes. Investors are now awaiting the upcoming RBI policy decision, where market has marginal expectations of a rate cut, in the near-term. Currently, the preferences of investors are for domestic consumption-driven stocks and sectors holding limited volatility to external factors, he added.
Ajit Mishra, senior vice-president (research) of Religare Broking Ltd, said, “Lingering uncertainty over the tariff situation, following recent statements from the US President, along with a lack of major positive surprises from the earnings season, has been weighing on market sentiment. All eyes are now on the outcome of the upcoming MPC meeting. While the committee is expected to hold rates steady amid global uncertainties, the tone of their commentary will be crucial.”
Amid this corrective phase, select stocks across sectors are showing noticeable strength and offering buying opportunities. Participants should therefore maintain a stock-specific approach and focus on prudent position sizing, he added.
The rupee on August 5 fell 15 paise to close at 87.81 (provisional) against US dollar.
Trump on Monday threatened to substantially raise tariffs on Indian goods, citing India’s continued purchases and resale of Russian oil. India’s foreign ministry responded, saying it will take all necessary steps to protect its national interests and economic security. Trump had already imposed higher-than-expected 25% tariffs on Indian imports last week, while US officials continue to highlight multiple hurdles that are delaying a trade deal with India.
Technical View
The Nifty traded with a negative bias throughout the day, remaining below the 50EMA. On the daily chart as well, the index is comfortably placed below the 50EMA. “The current range is 24,400-24,850, and in the short term, the index is likely to remain within this band. Only a decisive move beyond this range might determine the next course of action for the market,” Rupak De, senior technical analyst at LKP Securities.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
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