Stock Market Highlights, Aug 6: Sensex nds 166 pts down; Nifty below 24k

Stock Market Highlights on August 6: On the BSE, 17 out of 30 listed stocks of the Sensex ended in the red, with State Bank of India, Mahindra & Mahindra, and Bharti Airtel being the top drags

SI Reporter New Delhi

ICICI Bank

Stock Market Highlights on Tuesday, August 6, 2024: Equity benchmark indices, the BSE Sensex and the NSE Nifty50, pared early gains to settle in the red on Tuesday. The BSE Sensex ended at 78,593, down 166 points or 0.21 per cent. The index had jumped 1.38 per cent to hit the day's high of 79,852.08 during the intraday trade.

The NSE Nifty50, on the other hand, ended 63 points or 0.26 per cent down at 23,992. It had climbed 1.35 per cent to the day's high of 24,382.6 during intraday trade.

29 out of the 50 constituents of the NSE Nifty50 ended lower, with HDFC Life Insurance Company and SBI Life Insurance Company being the top laggards, falling up to 4.28 per cent. BPCL, Shriram Finance, and Mahindra & Mahindra were the other leading losers on the Nifty50 index.

On the BSE, 17 out of 30 listed stocks of the Sensex ended in the red, with State Bank of India, Mahindra & Mahindra, and Bharti Airtel being the top drags.

The fear index, India VIX, ended at 18.74 points, down 7.97 per cent, on Tuesday.

The broader indices settled in the red, with the Nifty Next 50 index being the top laggard, falling 0.92 per cent. Nifty Midcap 100 and Smallcap 100 indices also ended lower, down 061 per cent and 0.39 per cent, respectively.

Among the sectoral indices, Financial Services, Banking, and Oil & Gas ended lower with a fall of up to 1.42 per cent. Meanwhile, IT, Metal, Realty, Media and FMCG managed to settle with gains of up to 0.84 per cent.

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Stock Market LIVE Updates, Friday, October 11, 2024:

Indian benchmark equity indices BSE Sensex and Nifty 50 were trading lower on Friday, tracking overnight weakness on the Wall Street. At 12 PM, the BSE Sensex was down 244.08 points, or 0.30 per cent, at 81,367.33, while the Nifty 50 was at 24,938.90, down 59.55 points, or 0.24 per cent. More than half the stocks on the BSE Sensex were trading in the red.
Loses were capped by Bajaj Finance (down 0.71 per cent), followed by Bharti Airtel, Power Grid Corp., Asian Paint, and ICIC Bank. In contrast, HCLTech (up 1.79 per cent, JSW Steel, Tata Steel, Sun Pharma, and Titan, were the top gainers.
On the Nifty 50, too, mo than half the stocks were trading in the red. Gains were led by HCLTech (up 1.74 per cent), followed by Hindalco Industries, ONGC, Wipro and JSW Steel. Meanwhile, loses were capped by Cipla (down 1.23 per cent), followed by Bajaj Finance, Power Grid Corp., ICICI Bank, and TCS. Among sectoral indices, the Nifty Bank was down 0.28 per cent, while Financial Services was down 0.42 per cent, and Realty was down 0.45 per cent. The Metal and IT index were the top sectoral gainers, climbing 0.75 per cent and 0.63 per cent, respectively. In the broader

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Comment :: What does India VIX suggest about Indian stock markets?

The sharp decline is largely in response to the recovery in equities seen early in the day following the global rout yesterday. But the drop in VIX is not seen sustaining and the pull back above 18 reflects that Indian market remains sensitive and vulnerable as global events unravel with Nifty just having turned from a 10 period long stretch of month on month peaks.

Views by: Anand James, Chief Market Strategist, Geojit Financial Services

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