Sensex and Nifty in Red

2 Aug 2024 , 02:21 PM

The Indian stock market is experiencing a downturn today, with both the Sensex and Nifty indices trading in red. As of 2:06 pm on August 02, 2024, the Sensex is at 81,148 points, showing a significant decline of 719 points or 0.88% compared to the previous closing value. Similarly, the Nifty index is trading at 24,783 points, which represents a drop of 227 points or 0.91% from its previous close. 

On the Sensex, some of the top losers include Maruti Suzuki, Tata Motors, Tata Steel, JSW Steel, and M&M. These companies are facing considerable declines, contributing to the overall negative sentiment in the market. Conversely, a few stocks are bucking the trend and posting gains. Notable gainers on the Sensex include HDFC Bank, Nestle, Kotak Mahindra Bank, Asian Paints, and Sun Pharma.

Similarly, on the Nifty index, HDFC Bank, Sun Pharma, Divis Labs, and Dr. Reddy’s Labs are among the top gainers. These stocks are performing well amid the overall market decline, helping to mitigate some of the losses. However, the Nifty is also witnessing significant losses in stocks such as Eicher Motors, Maruti Suzuki, Tata Motors, and JSW Steel, which are among the top losers on the index.

From a sectoral perspective, the market is showing a mixed performance. The pharmaceutical and media sectors are the only ones trading in positive territory, indicating some investor confidence in these areas. On the other hand, all other sectoral indices are trading in the red, reflecting widespread selling pressure across various segments of the market. This includes sectors such as banking, finance, automotive, and metals, which are all seeing declines.

Furthermore, both the BSE Midcap and Smallcap indices are also trading in negative territory, trading at 0.79% and 1.05% dip highlighting the broader market weakness.