Indian benchmark indices take a hit, close with heavy losses

7 Jul 2023 , 03:45 PM

Domestic equity markets ended with heavy losses after a highly volatile session. Today, markets maintained a downside momentum throughout the day. Nifty closed 172 points lower. Sensex shed 550 points.

In today’s early morning session, markets opened at a lower point. But soon it recovered from the early morning session. However, in the early afternoon session, markets started to fall and shed over 550 points, marking an end to a six-day winning streak. Investors are highly skeptical about the US Fed’s monetary policy tightening.

Nifty Media stocks were in light today and closed about 4% higher. All other sectoral indices wrapped up in losses.

Tata Motors, Titan, Mahindra & Mahindra, SBI Life, and Cipla led the gainers today and were the only gainers in today’s trade on the nifty index. Adani Ports, Power Grid, Apollo Hospital, IndusInd Bank, and NTPC emerged as the biggest losers.

In terms of value, the most active stocks were HDFC Bank, Reliance, Bharti Airtel, Tata Motors, and Titan. Most active stocks in terms of volume were Tata Steel, Tata Motors, Bharti Airtel, NTPC, and SBI.

A total of 128 stocks touched 52-week high, while 15 plunged to their 52-week lows on NSE today.