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Sensex, Nifty Snap Winning Streak Amid Profit-Booking

2 Aug 2024 , 03:40 PM

On August 2, Indian benchmark indices snapped their five-day winning streak and closed lower, with the Nifty falling below the 24,750 mark. The market witnessed a broad-based decline, reflecting investor concerns and profit-booking.

At the close of trading, the Sensex was down by 885.60 points, or 1.08%, ending at 80,981.95. The Nifty also saw a significant drop, losing 293.20 points, or 1.17%, to settle at 24,717.70. The market breadth was negative, with 1,426 shares advancing, 1,960 shares declining, and 83 shares remaining unchanged.

Key Losers and Gainers

The major losers on the Nifty were:

  • Eicher Motors
  • Maruti Suzuki
  • Tata Motors
  • Hindalco Industries
  • JSW Steel

On the other hand, the top gainers included:

  • Divis Labs
  • HDFC Bank
  • Dr. Reddy’s Labs
  • Sun Pharma
  • Kotak Mahindra Bank

Sectoral Performance

Sector-wise performance was mostly negative, with the exception of the pharma and healthcare sectors, which managed to stay in the green. The sectors that saw significant declines included:

  • Auto
  • Energy
  • PSU Bank
  • IT
  • Metal
  • Realty

These sectors experienced a drop of 1-3%.

Midcap and Smallcap Indices

The broader market indices also mirrored the bearish sentiment. The BSE midcap index shed 1%, while the smallcap index fell by 0.5%.

Related Tags

  • BSE
  • closing bell
  • nifty
  • NSE
  • sensex
  • stock market news
  • Stock Market Updates
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