Dear Trader…
Sensex closed at 80,891.02, down 572.07 points or 0.70 per cent. The 30-share index began the session in the negative territory at 81,299.97 against the last day’s closing of 81,463.09. The index dragged down further to touch an intraday low at 80,776.44 amid selling in heavyweights, especially in the IT sector.
Kotak Bank, Bajaj Finance, Bharati Airtel, Titan, TCS, HCL Tech, SBI, Tata Steel, Eternal, Axis Bank, and Mahindra and Mahindra were top losers among the Sensex basket. Hindustan Unilever, Asian Paints, and ICICI Bank ended the session in green. Broader indices also experienced the heat of selling pressure.
Sectoral indices followed suit as well. Bank Nifty future fell 406 Points, Nifty Fin Service closed 192 points down, Nifty IT dropped 253 points, and Nifty Auto ended the session 88 points down. Rupee traded weak by 0.10 per cent at 86.65 as weakness in capital markets weighed on sentiment.
Nifty futures opened at 24799 points against the previous close of 24850 and opened at a low of 24667 points. Nifty Future closed with an average movement of 257 points and a decline of around 140 points and 24710 points…!!
On the NSE, the midcap 100 index will decline 0.84% and smallcap 100 index is closing decline 1.26%. Speaking of various sectoral indices, the NSE saw gains in only Pharma, FMCG and Healthcare stocks, while all other sectoral indices closed lower.
At the start of intra-day trading, August gold opened at Rs.97852, fell from a high of Rs.98120 points to a low of Rs.97839 with a rise of 131 points, a trend of around Rs.97950 and September Silver opened at Rs.1,13,165, fell from a high of Rs.1,13,417 points to a low of Rs.1,12,857 with a decline of 129 points, a trend of around Rs.1,12,923.
Meanwhile, the upcoming monetary policy decisions from the Fed and Bank of Japan, along with the trajectory of domestic quarterly earnings, are expected to play a pivotal role in shaping market direction in the near term. The week ahead is expected to remain volatile with key global triggers including the 1st August trade deal deadline with the U.S., along with major U.S. data releases.
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