Stock Market Today: Nifty erase early losses to end flat
Stock Market Today 2 August 2022: Indian stock markets opened lower on Tuesday amid negative global cues. Nifty today opened at 17310.15 levels down by 29.9 points while Sensex made a negative opening of 66.48 points at 58049.02 levels. The key indices, Sensex and Nifty traded below their neutral lines most of the day, in the last hour indices recovered and closed in the green.
Stock Market News and Updates Today
The domestic market sentiments were downbeat due to the weakness across global markets, after data showing a slowing US manufacturing sector fuelled concerns about an economic slowdown around the world. There was a cautiousness in the markets as a private report stated that the Reserve Bank of India will deliver two more rate hikes with the first of 25-30 basis points later this week.
However, markets recovered in the last hour as investors were optimistic about the FIIs buying in the Indian markets, they were the net buyers on Monday. FIIs invested Rs 2320.61 crores worth of shares in the equity market cash segment on Monday. Investors were also feeling relief after finance minister Nirmala Sitharaman said India’s macroeconomic fundamentals are intact and there is no risk of the economy entering into recession or stagflation.
On the global front, the other Asian markets mostly closed in the red tracking slightly negative cues from Wall Street overnight. The geopolitical tension between the US-China over Taiwan and the fear of a global economic slowdown weigh on the market sentiments. European key indexes are mostly trading in the red tracking negative cues from their Asian peers.
Sensex and Nifty at the close today
The Nifty index gained by 5.40 points or 0.03 percent and closed at 17345.45 levels while Sensex was up by 20.86 points or 0.04 percent and finished at 58136.36 levels. The Bank Nifty index ended higher today by 120.80 points or 0.32 percent on the spot level and ended at 38024
The broader markets outperformed the benchmarks today, as the Nifty midcap index gained by 100.15 points or 0.33 percent and closed at 30228.15 levels. The Nifty smallcap index closed higher today by 66.15 points or 0.71 percent at 9402.80 levels.
Nifty top gainers and losers today
The top gainers in the Nifty50 index were IndusInd Bank, Asian paints, NTPC, Maruti Suzuki, and Power Grid whereas the top losers were UPL, Hero Motor Corp, SBI Life, Britannia, Tech Mahindra
The midcap top gainers were Natco Pharma, JSW Energy, and Dhani Services, and the top losers were Escorts Kubota, Ashok Leyland, and Godrej Prop
The top gainers in the Nifty smallcap index were GMM Pfaudler, Spice Jet, and IRB Infra and the top losers were Future Retail, Thyrocare, and Firstsource Sol
The most active stocks in the Nifty index in terms of value were Reliance, ITC, and HDFC Bank. The most active stocks in terms of volume were Tata Steel, ITC, and Tata Motors.
On the sectoral front, PSU Bank, FMCG, Auto, and Banking sectoral indices closed higher today. The sectors that closed in the red today were Realty, IT, Financial Services, and Metals.
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