Market Wrap: Sensex, Nifty fall for the second consecutive session; weak global cues weigh on sentiment

US consumer prices rose moderately last month which bolstered hopes that the US Fed will leave interest rates steady next month.

However, the optimism over easing inflation fizzled out and concerns over global economic growth continued weighing on Sentiment. Major European markets traded in the red when the Sensex closed.

Stock market today

Frontline index the Sensex opened 40 points higher at 65,727.80 against the previous close of 65,688.18 but soon slipped into the red and traded in the negative territory for the rest of the session. The index fell 414 points to hit the intraday low of 65,274.61. The Nifty50 hits its intraday low of 19,412.75.

The Sensex closed 365.53 points, or 0.56 per cent, lower at 65,322.65 while the Nifty closed the day at 19,428.30, down 114.80 points, or 0.59 per cent. 

Shares of HDFC Bank ended as the top drag on the Sensex index, followed by those of ICICI Bank, Infosys and Hindustan Unilever.

Mid and smallcaps also fell but they still outperformed the benchmark. The BSE Midcap index ended 0.13 per cent lower while the Smallcap index ended with a loss of 0.31 per cent.

The overall market capitalisation of BSE-listed firms dropped to nearly ₹304.6 lakh crore from ₹305.4 lakh crore in the previous session and ₹306.2 lakh crore on Wednesday. Thus, investors lost about ₹1.6 lakh crore in two days.

The Sensex lost 0.6 per cent for the week while the Nifty declined 0.45 per cent.

Top Nifty gainers and losers today

Some 39 stocks ended in the red in the Nifty index while the remaining 11 clocked gains.

Shares of IndusInd Bank (down 2.44 per cent), SBI Life Insurance Company (down 1.95 per cent) and UPL (down 1.80 per cent) ended as the top losers in the Nifty index.

Shares of HCL Tech (up 2.93 per cent), Power Grid (up 1.01 per cent) and Titan (up 0.96 per cent) ended as the top gainers in the Nifty pack.

(More to come

Updated: 11 Aug 2023, 03:57 PM IST