Market News
3 min read | Updated on August 02, 2024, 14:17 IST
SUMMARY
Benchmark equity indices started the trading session negatively, while broader indices also traded in red. Additionally, Nifty FMCG was the top gainer, while Nifty Auto was the major loser.
Stock list
NIFTY50 and SENSEX open lower as recession fear grips global market
Today, Indian equity benchmark indices began the last trading day of the week on a negative note, with NIFTY50 and SENSEX declining significantly. The broader markets also opened on a negative note. The fall in the Indian markets is due to the back sell-off in the global markets.
In the early trading session, Nifty FMCG was the top gainer among sectors, while Nifty Auto was the top loser. The India VIX has surged by 3.58%, trading above the 13-mark.
On Thursday, August 01, 2024, foreign institutional investors (FII) bought shares worth ₹2,089.28 crore, while domestic institutional investors (DII) offloaded shares worth ₹337.03 crore.
At 09:25 am, the SENSEX plunged by 0.75%, trading below the 81,300 level. The NIFTY50 also declined by 0.79%, trading below the 24,900 mark. Additionally, Nifty Bank experienced a decline of 0.75%, trading below the 51,200 level.
Looking at the broader indices, the Nifty Midcap 100 index was trading in the red, down by 0.7% and trading below the 58,100 level, while the Nifty Smallcap 100 also declined by 0.83% and is trading below the level of 18,800 mark. Market breadth is skewed in favour of declines.
Within the sectoral landscape, Nifty FMCG (+0.59%), Nifty Media (+0.41%) and Nifty Pharma (+0.42%) are the major sectors which are trading positively while Nifty Auto (-1.78%), Nifty Metal (-1.85%) and Nifty Realty (-1.41%) are trading negatively.
In the NIFTY50 space, Hindustan Unilever (+1.16%), Sun Pharma (0.85%) and Dr Reddy’s Laboratories (+0.71%) are among the top gainers. On the other hand, Tata Motors (-3.2%), Maruti (-2.8%) and Tata Steel (-2.9%) are among the top losers.
U.S stocks started August with significant declines after Thursday's economic data raised concerns about a potential faster-than-expected economic slowdown, even as the Federal Reserve continues its restrictive monetary policy.
The U.S. 10-year Treasury yield fell by 48 basis points to 3.95%, while the U.S. 2-year bond yield dropped by 59 basis points to 4.12%.
On August 2, oil prices climbed but are on track for a fourth straight weekly decline. Sluggish global fuel demand growth outweighs concerns about potential supply disruptions in West Asia.
Brent crude futures rose by 0.4% to $79.85 per barrel, while U.S. West Texas Intermediate (WTI) crude futures increased by 0.5% to $76.69.
Stocks that are banned for trading in the F&O segment on August 02, 2024, are Birlasoft, Gujarat Narmada Valley Fertilizers & Chemicals, Granules, India Cements, Indiamart Intermesh and RBL Bank.
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