Nifty Closes at 19526, Sensex Plunges 677 pts; All Sectors Witness Downturn

 

Sensex and Nifty Today Aug 2, 2023: Indian stock markets fell sharply lower on Wednesday, as the global rating agency Fitch downgraded the US credit rating from AAA to AA+ overnight. The market sentiments hit and a sharp sell-off was witnessed across the globe. 

Bears were holding a tight grip over Dalal Street throughout the day, with both Sensex and Nifty falling sharply, due to heavy selling in all sectors. Traders were also cautious as FIIs are selling consistently in the Indian equity markets. Some cautiousness was also seen with the reports that the central government`s debt stood at Rs 155.6 lakh crore or 57.1 percent of the GDP at the end of March 2023. 

Besides, the Indian rupee dropped to a near one-month low against the US dollar on August 2 amid rising crude prices and weak Asian currencies.

 

Stock Market Indexes Today

 

The Nifty 50 index closed lower by 207 points or 1.05 percent and closed at 19526.55 levels while the Sensex was down by 676.53 points or 1.02 percent and finished at 65782.78 levels. The Bank Nifty index ended lower by 596.80 points or 1.31 percent on the spot level and closed at 44995.70 levels.

The broader markets also fell sharply following their larger peers today, as the Nifty midcap index was down by 500.75 points or 1.33 percent and closed at 37232.70 levels. The Nifty smallcap index ended lower by 186.75 points or 1.58 percent at 11596.05 levels.

 

Nifty 50 top gainers & losers 

 

The top gainers in the Nifty 50 index were Divis Lab, Nestle India, HUL, Asian Paints, and TechM and the top losers were Hero Motors, Tata Steel, Tata Motors, Bajaj Finserve, and NTPC

The top gainers in the Nifty midcap index were Laurus Lab, Escorts, and Navin Fluorine and the top losers were NTPC, PEL, and ZEEL 

The smallcap top gainers were KEI, Cyient, and PVR INOX while the top losers were Redington,IIFL, and Welspun

The most active stocks in the Nifty index in terms of value were HDFC Bank, ICICI Bank, and Reliance. The most active stocks in terms of volume were Tata Steel, Coal India, and NTPC.

All sectoral indices closed in the red with PSU Bank, Metal, Auto and Egengy falling the most.

 

Global Stock Market Today

 

The other Asian stock market indexes closed lower on Wednesday, a sharp sell-off triggered across the region after the rating agency Fitch lowered the US Long-Term Foreign-Currency Issuer Default Rating (IDR) from AAA to AA+. 

Japan’s Nikkei fell sharply lower by over 2 percent. South Korea’s Kospi snapped a four-day winning streak and closed lower by around 2 percent despite the country’s inflation rate declining in July to its lowest level in 25 months. Hang Seng led the losses in the region, down around 2.5 percent while Shanghai also closed sharply lower by 0.90 percent on Wednesday.

 

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Happy Investing!!

Editorial desk