On Friday, August 2, Indian stock markets went down with major indices closing in red. The BSE Sensex plummeted 885.60 points or 1.08% to close at Rs 80,981.95 while the Nifty 50 fell 293.20 points or 1.17% to end at Rs 24,717.70. The Nifty Bank index also declined dropping 213.85 points or 0.41% to Rs 51,350.15
Nifty 50 Index Daily Chart: TradingVew
Despite the day’s losses the overall market outlook remains bullish with analysis showing that a bearish trend would only be confirmed if the Nifty 50 closes below 24,074 and the Sensex below 79,223. Q1 FY24-25 results so far show a 10.81% year-on-year increase in revenue and a 5.01% rise in net profit across 1,034 out of 4,418 companies.
Eicher Motors led the decline with its stock price dropping 5.15% to Rs 4,713.00. The company opened at Rs 4,884.00, reached a high of Rs 4,884.00 and a low of Rs 4,691.55 compared to the previous close of Rs 4,968.80
Source: NSEIndia
Tata Motors saw its stock price fall 4.32% to Rs 1,095.00. It opened at Rs 1,120.00 with a high of Rs 1,120.00 and a low of Rs 1,090.05 against the previous close of Rs 1,144.40
Maruti Suzuki India experienced a 4.06% decline with its stock closing at Rs 12,697.10. The stock opened at Rs 13,126.00, reached a high of Rs 13,174.90 and a low of Rs 12,673.05 compared to the previous close of Rs 13,359.05
JSW Steel saw its stock price decrease by 3.91% to Rs 898.00. It opened at Rs 919.90, with a high of Rs 923.85 and a low of Rs 896.00 against the previous close of Rs 934.55
Hindalco Industries experienced a 3.89% drop closing at Rs 647.30. The stock opened at Rs 659.80, reached a high of Rs 665.60 and a low of Rs 646.55 compared to its previous close of Rs 673.50
Wipro saw its stock price fall 3.75% to Rs 502.00. It opened at Rs 515.00, with a high of Rs 519.25 and a low of Rs 501.00 against the previous close of Rs 521.55
LTIMindtree experienced a 3.41% decline closing at Rs 5,485.00. The stock opened at Rs 5,585.00, reached a high of Rs 5,667.95 and a low of Rs 5,480.00 compared to the previous close of Rs 5,678.90
Oil and Natural Gas Corporation saw its stock price decrease by 3.34% to Rs 330.35. It opened at Rs 338.00 with a high of Rs 338.00 and a low of Rs 328.65 against the previous close of Rs 341.75
Larsen & Toubro experienced a 3.21% drop closing at Rs 3,657.90. The stock opened at Rs 3,730.35, reached a high of Rs 3,748.90 and a low of Rs 3,657.10 compared to the previous close of Rs 3,779.30
Coal India saw its stock price fall 2.91% to Rs 524.65. It opened at Rs 534.00 with a high of Rs 537.20 and a low of Rs 522.30 against the previous close of Rs 540.40.
