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Friday, July 19, 2024
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Stock Market Today: Sensex, Nifty open lower due to negative global cues; Infosys, HDFC Bank top losers

Stock Market Today: In response to negative global cues, the main equity indices opened lower on Monday. The 30-share BSE Sensex dropped 286.6 points to 67,552.03 following an 11-day surge. To 20,121.65, the Nifty dropped 70.7 points. The top losers among the Sensex companies were Infosys, HCL Technologies, Tech Mahindra, HDFC Bank, Wipro, and Reliance Industries. The winners included Mahindra & Mahindra, Titan, NTPC, and Asian Paints.

In Asian markets, Shanghai quoted higher while Seoul and Hong Kong traded lower. On Friday, the US markets finished in the red. Benchmark Brent crude for world oil increased 0.42 percent to USD 94.30 per barrel.
11-day rally concludes

According to exchange data, foreign institutional investors (FIIs) purchased shares of stock on Friday totaling Rs 164.42 crore. Friday’s BSE benchmark increased 319.63 points or 0.47 percent to a record 67,838.63, its eleventh straight gain. It reached a record intraday high of 67,927.23 after rising 408.23 points or 0.60 percent.

The Nifty closed at 20,192.35, a record high, up 89.25 points, or 0.4%. It reached a record intra-day high of 20,222.45 after rising 119.35 points or 0.59 percent.

Conclusion:-

The BSE Sensex and Nifty indices opened lower due to negative global cues, with top losers including Infosys, HCL Technologies, Tech Mahindra, and HDFC Bank. Foreign institutional investors purchased shares, with the BSE benchmark rising for eleven consecutive days. The top losers included Infosys, HCL Technologies, Tech Mahindra, HDFC Bank, Wipro, and Reliance Industries. The winners included Mahindra & Mahindra, Titan, NTPC, and Asian Paints. In Asian markets, Shanghai quoted higher, while Seoul and Hong Kong traded lower. The US markets finished in the red, with Brent crude for world oil increasing 0.42 percent to USD 94.30 per barrel.

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