Monday, August 2, 2021

Nifty metal index falls 3%, Sensex down 337 points; Nifty ends at 14,906

Indian equity indices opened positive but soon started trading in negative following mixed Global and Asian markets on Thursday. Profit booking in Reliance Industries and HDFC Bank put pressure on the market, while weakness across global markets and lack of domestic cues damaged the sentiment on Dalal Street. M&M, IndusInd Bank, Titan Company, Larsen, and Bajaj Finserv were among the top Sensex gainers, while ONGC, Sun Pharma, Power Grid Corp, Axis Bank, and HDFC Bank were laggards.

Market Overview

The BSE Sensex and Nifty 50 declined 0.68 and 0.83 per cent respectively. The Sensex of the Bombay Stock Exchange closed below the 49,600 level while Nifty50 of the National Stock Exchange settled at the 14,906 mark. The Sensex declined 337 points to trade at 49,564 and the Nifty50 declined by 124 points to trade at 14,906.

Nifty50 Index

In Nifty50 shares, only 12 shares out of 50 companies closed on the green side of the market. M&M is the top performer as it gained 2.47 per cent, followed by Cipla which rose by 2.27 per cent, BPCL surged 1.87 per cent, IndusInd Bank, Titan Company and Larsen also closed on the green side of the market. On the other hand, 38 stocks out of 50 Nifty50 shares closed on the red side. Tata Steel declined 5.08 per cent, Hindalco fell 4.28 per cent. Coal India, Britannia, ONGC also declined and closed on the red side of the market.

Small-cap and Mid-cap Indices

Comparative to Largecap indices, Smallcap and Midcap declined slightly. The Nifty Midcap-100 index fell 0.08 per cent and the Nifty Smallcap-100 index declined 0.17 per cent. In Nifty Midcap 100, Indiabulls Hsg gained 8.28 per cent, Chola Investment rose 4.74 per cent, Coramandel International, M&M Financial and V-Guard Industries also surged, while SAIL, Jindal Steel and Bharat Forge declined. In Nifty Smallcap-100, India Cement gained 10.40 per cent. On the other hand, Birla Corp fell 4.97 per cent, CSB Bank, Aster DM Health, Vakrangee declined.

Sectoral Indices

In NSE sectoral indices, 15 out of 17 sectors declined. The Nifty Metal declined 2.97 per cent, NSE Commodities fell 1.84 per cent followed by Nifty Pvt Bank plunged by 1.64 per cent while Nifty PSU Bank gained 3.24 per cent.

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