Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices, NSE Nifty 50 and BSE Sensex, closed on a lower note this Thursday, continuing their downward trend from the previous session. Nifty 50 crashed 145 points to 19,381 while Sensex tumbled 0.82% to 65,240. The market sentiment appears to be negative as investors keep a close watch on the unfolding global developments. Bank Nifty closed lower by 1.07%, just above the 44,513 level. Nifty Private Bank, Nifty Realty and Nifty Financial Services were among the top losers, while Nifty Pharma and Nifty Media jumped 0.91% and 1.04% respectively. In the broader markets, Nifty 100, Nifty 200 and Nifty 500 closed lower, but Nifty Midcap 100 and Nifty Smallcap 100 were higher.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
Nifty 50 tanked 145 points to 19,381 while Sensex crashed 0.82% to 65,240.
Shares of Adani Enterprises soared 3% to Rs 2,546 apiece as the embattled firm posted Q1 net profit at Rs 674 crore, up 44% on-year.
There is a high probability that India will be the fastest growing large economy in the world for many years to come. India’s demographic dividend, entrepreneurial talent, macro stability and vibrant democratic system can drive sustained high growth and consequent impressive corporate earnings. This near consensus is already baked into market valuations in India which are high compared to peers.
- V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Domestic indices Nifty and Sensex extend losses for the second session. Sensex has fallen over 700 points to 65,071.19, while Nifty is down 200 points at 19,324.60.
Share price of Gujarat Gas tanked 7% on Thursday as the utilities company posted a 43.4% fall in consolidated net profit at Rs 216 crore for Q1FY23.
InterGlobe Aviation share price tanks 4% despite IndiGo's record profits. Investors are wary on the upcoming Rakesh Gangwal’s stake sale and increasing competitive intensity as Spicejet and GoAir see tailwinds. Additionally, 30-day forward prices are down 15% as the sector tries to raise off-season demand.
Share price of Titan Company fall 3% to Rs 2,885.35 apiece as the street factored in the company's quarterly earnings report.
The share price of Vedanta sank over 7.5% in trade on Thursday, as reports suggested that Twin Stars, a promoter entity of the firm, was gearing up to offload a 4.3% stake in the company through block deals. The shares are to be sold at Rs 258.50 apiece, garnering the promoter up to Rs 4,130 crore.
Nifty weekly contract has highest open interest at 19800 for Calls and 19500 for Puts while monthly contracts have highest open interest at 19800 for Calls and 19500 for Puts. Highest new OI addition was seen at 19600 for Calls and 19450 for Puts in weekly and at 19600 for Calls and 19450 for Puts in monthly contracts
When market valuations are high, the sell off will be sharp. This was what happened in global markets after the Fitch downgrade of the US credit rating. Now, the important question from the market perspective is whether this will impact the fundamental factors driving the rally in global markets. The answer is no.
The US economy’s soft landing narrative, that is driving the ongoing global rally, is intact and getting stronger. GDP growth in US is strong and inflation is coming down. 80% of US companies have posted better than expected quarterly results. The Fitch downgrade doesn’t alter this significant macro construct. The sentimental impact of the rating downgrade is likely to fade away soon.
- V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Domestic indices NSE Nifty 50 and BSE Sensex opened lower in trade on Thursday, extending losses from the previous session. Nifty 50 opened at 19,463.75, while Sensex started trading at 65,550.82. Both the indices are currently trading with losses of over 0.3% each. Bank Nifty gave up the 45,000 level, slipping 0.15%.
Sensex closed the pre-open session at 65,550.82, down 232 points while Nifty 50 ended at 19,463.75, 0.32% lower.
Crude oil prices fell more than 2.0% in the international markets despite a record decline in the U.S. oil stocks. As per the U.S. EIA, crude oil inventories in the U.S. dropped by 17 million barrels last week, its highest decline in inventories in any single week since 1982. Despite a larger than expected draw in the U.S. oil stocks, prices fell in the international markets.
The National Stock Exchange has Hindustan Copper, Gujarat Narmada Valley Fertilizers & Chemicals, Piramal Enterprises and Indiabulls Housing Finance securities on its F&O ban list for 3 August.
Intraday traders can look for long opportunities only above 19,700 if the closing comes above 19,700 in 15 min chart. Traders can look for fresh shorts only if Nifty breaks the 19,400 level & remains below for 15 min to ensure short.
- Stoxbox
Foreign institutional investors (FII) sold shares worth net Rs 1,877.84 crore, while domestic institutional investors (DII) offloaded shares worth net Rs 2.23 crore on 2 August, according to the provisional data available on the NSE.
Wall Street finished lower on Wednesday, with the S&P 500 and Nasdaq Composite down for a second straight day as investors took profits on five months of gains a day after rating agency Fitch cut the U.S. government's credit rating, according to Reuters. S&P 500 declined 1.38%, the Nasdaq Composite crashed 2.17%, and the Dow Jones Industrial Average tumbled 0.98%.
Shares in the Asia-Pacific region were trading in the red on Thursday, extending the global rout. China’s Shanghai Composite and Shenzhen Component were down by 0.22% and 0.33% respectively. Japan’s Nikkei 225 tanked 1.32%. South Korea’s Kospi advanced 0.15% while Hong Kong's Hang Seng fell 0.58%. The Taiwan Weighted index recorded a loss of 1.85%.