Share Market Today: Markets Fall In Early Trade. Sensex Slips 300 Points; Nifty Tests 24250. HDFC Bank Down 4%
Share market today: On the 30-share Sensex platform, HDFC Bank slumped 4.48 per cent, followed by M&M, Titan, Tata Steel, IndusInd Bank, UltraCemco
Share market today: The two key equity benchmarks, Sensex and Nifty, on Friday declined in early trade amid profit-booking after a record rally in the last few trading sessions. At 10.35 am, the BSE Sensex dropped 315 points to 79,735. On the other hand, the NSE Nifty50 was trading at 24,244, down 58 points.
Stock update
On the 30-share Sensex platform, HDFC Bank slumped 4.48 per cent, followed by M&M, Titan, Tata Steel, IndusInd Bank, UltraCemco. On the flip side, L&T, Reliance, JSW Steel, SBI, NTPC, Sun Pharma emerged early gainers.
The broader markets are trading in the green with the BSE Midcap index gaining by 0.05 per cent while the SmallCap index advancing 0.23 per cent.
Sectoral update
Sectorwise, Nifty Financial Services, Nifty Private Bank, and Nifty Auto fell 0.5-1 per cent. On the other hand, Nifty Healthcare, Nifty Pharma, Nifty FMCG, and Nifty PSU Bank led gains.
In the previous session on Thursday, the 30-share BSE Sensex closed marginally higher by 63 points at 80,049, while the NSE Nifty50 settled 16 points up at a record 24,302.
Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday, as they purchased shares worth Rs 2,575.85 crore, according to exchange data.
"FIIs' huge long position in the index derivatives and strong buying in the cash market can support the market in the near term. An important trigger may come from the US jobs data expected on Friday. If the jobs data show a loosening labour market and a slowing economy, it can lead to rate cuts by the Fed in September," V K Vijayakumar, chief investment strategist at Geojit Financial Services, said.
Global update
In Asian markets, Seoul quoted higher, while Tokyo, Shanghai, and Hong Kong traded lower. US markets were closed on Thursday on the occasion of Independence Day.
Global oil benchmark Brent crude declined 0.37 per cent to $87.11 a barrel.
Rupee rises 5 paise
The rupee appreciated 5 paise to 83.45 against the US dollar in early trade on Friday, as the American currency retreated from its elevated levels and was supported by significant foreign fund inflows.
At the interbank foreign exchange market, the local unit opened at 83.48 and gained further to 83.45 against the greenback, registering a rise of 5 paise from its previous close.
On Thursday, the rupee pared its initial losses and settled for the day on an almost flat note at 83.50 against the US dollar.
Trending News
Top Headlines
