Nifty and Sensex Conclude Slightly Lower; PSU Bank Index Surges 3%

 

Sensex and Nifty Today Aug 8, 2023: Indian stock market indexes ended the volatile session with minor cuts on Tuesday. The domestic markets made a flat to positive opening amid mixed Asian market cues and soon slipped below their neutral lines. The equity benchmarks traded in the red terrain throughout the day.

The market sentiments were subdued due to Foreign fund outflows. According to the provisional data available on the NSE, foreign institutional investors (FII) offloaded shares worth a net of Rs 1,892.77 crore on August 07. Some cautiousness was also seen in the markets ahead of  RBI monetary policy and inflation data from the US and China later this week.

 

Stock Market Indexes Today

 

The Nifty 50 index closed marginally lower by 26.45 points or 0.13 percent and closed at 19570.85 levels while the Sensex was down by 106.98 points or 0.16 percent and finished at 65846.50 levels. The Bank Nifty index ended higher by 126.95 points or 0.28 percent on the spot level and closed at 44964.45 levels.

The broader markets outperformed their larger peers today, as the Nifty midcap index was up by 88.35 points or 0.23 percent and closed at 37912.50 levels. The Nifty smallcap index ended higher by 31.65 points or 0.27 percent at 11755.95 levels.

 

Nifty 50 top gainers & losers 

 

The top gainers in the Nifty 50 index were  Hero Motors, SBI Life, Cipla, TechM, and, Wipro, and the top losers were Adani Enterprise, Power Grid, Hindalco, M&M, Divis Lab 

The top gainers in the Nifty midcap index were Gland Pharma, Indian Bank, and Biocon and the top losers were Policy Bazar, Max Health, and Ramco Cement

The smallcap top gainers were Angel One, Maha Bank, and Hudco while the top losers were Graphite, MedPlus, and Borosil

The most active stocks in the Nifty index in terms of value were HDFC Bank, ICICI Bank, and Adani Enterprise. The most active stocks in terms of volume were SBI, ICICI Bank, and HDFC Bank

On the sectoral front, Nifty PSU Bank, Media, and Pharma closed higher while the sector that closed in the red were Metal, Energy, and Auto

 

Global Stock Market Today

 

Asian stock market indexes mostly closed lower on Tuesday, as China’s trade data came below the economist’s expectations. China’s exports dipped by 14.5% YoY basis, while imports declined by 12.4% YoY. As per the Reuters economists poll, the expectation was a 12.5% dip in exports and a 5% drop in imports. 

Shanghai index closed lower and Hang Seng fell sharply in the last hour. Nikkei continued its winning streak for the third consecutive day. South Korea’s Kospi fell for the fifth straight session in a row. 

European stock market indexes are trading lower due to weaker-than-expected trade data from China and weak retail sales data from the UK. The sentiments got hit and the Italian bank stocks declined after the government introduced a 40% windfall tax on profits. Meanwhile, in Germany, consumer prices increased by 0.3% in July, unchanged from June, while the annual figure fell to 6.2% from 6.4% in the previous month.

 

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Happy Investing!!

Editorial desk