India's benchmark indices—the Sensex and the Nifty 50—closed lower on Thursday, July 3, amid ongoing concerns around global cues, foreign fund outflows, and uncertainty in the India-US trade talks. Here's a detailed look at the day's market performance and highlights.
Market Performance
- The Sensex declined by 170.22 points, or 0.20%, to close at 83,239.47.
- Nifty 50 lost 48.10 points or 0.19%, ending the session at 25,405.30.
- The Sensex had earlier surged 440.4 points intraday to hit a high of 83,850.09 but lost momentum by the close.
- On the broader front:
- BSE Midcap fell 0.06%
- BSE Smallcap rose 0.47%
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Key Reasons Behind the Decline
The sharp reversal in the indices came as a result of multiple pressure points:
- Rupee Depreciation
- The Indian Rupee weakened by eight paise, reaching 85.70 against the US dollar.
- Weakness was attributed to risk aversion and capital outflows.
- FII Selling
- Foreign Institutional Investors offloaded equities worth ₹1,561.62 Crore on July 2.
- This trend reflects cautious sentiment in emerging markets.
- India-US Trade Negotiation Uncertainty
- Talks continued into their seventh day, with no resolution yet in sight.
- Key discussion points include tariff exemptions and market access.
Company Highlights
Top Gainers in Nifty 50
17 out of the 50 Nifty stocks closed in the green. Leading the pack were:
- Dr. Reddy's Laboratories: +1.90%
- Apollo Hospitals Enterprise: +1.77%
- Hero MotoCorp: +1.75%
Top Losers in Nifty 50
32 stocks ended in the red. Major laggards included:
- SBI Life Insurance Company: -2.87%
- Kotak Mahindra Bank: -2.03%
- Bajaj Finserv: -1.40%
Other notable declines included JSW Steel and Grasim Industries.
Sectoral Performance
A mixed trend was visible across the sectors:
- Declining Sectors:
- Nifty Bank: -0.36%
- Financial Services: -0.47%
- PSU Bank: -0.89%
- Private Bank: -0.46%
- Metal: -0.78%
- Realty: -0.71%
- Gaining Sectors:
- Nifty Media: +1.45%
- Auto Index: +0.44%
- Pharma Index: +0.42%
Most Active Stocks (by Volume on NSE)
- Vodafone Idea: 71.14 Crore shares
- GTL Infrastructure: 14.52 Crore shares
- RattanIndia Power: 13.36 Crore shares
These high volumes indicate significant participation from both retail and institutional investors.
Stocks That Surged Over 10%
A total of 7 stocks jumped over 10%:
Stocks Hitting Circuits
Upper Circuits (98 Stocks)
Prominent names include:
- TechEra Engineering (India)
- Centrum Capital
- Indef Manufacturing
- Ellenbarrie Industrial Gases
Lower Circuits (52 Stocks)
Major ones:
- Indo Tech Transformers
- Reliance Infrastructure
- Sat Kartar Shopping
Advance-Decline Ratio
Out of 4,168 stocks traded on the BSE:
- Advances: 2,009
- Declines: 2,001
- Unchanged: 158
This reflects a nearly balanced market sentiment.
52-Week Highs and Lows
Stocks at 52-Week Highs (148)
Key names:
- UltraTech Cement
- Apollo Hospitals Enterprise
- Divis Laboratories
- Max Healthcare Institute
- SRF
Stocks at 52-Week Lows (54)
Key names:
Global Market Snapshot
- Asian Markets:
- Kospi, Nikkei 225, and Shanghai SSE closed higher.
- Hang Seng ended lower.
- European Markets: Traded mixed.
- US Markets: Ended mostly higher on Wednesday.
Summary of the Article
- The Sensex and Nifty declined for the second straight session amid weak global cues and ongoing uncertainty surrounding the trade agreement.
- FIIs sold equities worth over ₹1,500 Crore, pressuring the indices.
- Rupee depreciation added further strain to market sentiment.
- Sectoral indices showed a mixed performance; the Media, Auto, and Pharma sectors gained.
Over 150 stocks hit new highs or lows, while 98 stocks locked in upper circuits.
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