The Indian stock market ended in red today with BSE Sensex fell by 542 points to close at 65,241, while Nifty 50 slipped by 145 points to end at 19,382.

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The Nifty Bank, however, faced a more significant setback, losing 482 points to settle at 44,513. On the other hand, the Midcap Index performed relatively better, rising by 93 points to reach 37,326.

The top losers on the Nifty 50 were Titan, ONGC, Bajaj Finserv, ICICI Bank and Nestle India while the top gainers were Adani Enterprises, Adani ports, Eicher Motors, Divis Laboratories and Hindalco.

All sectors ended in red except Nifty Pharma, Nifty Media and Nifty Healthcare. Nifty Realty was the worst hit shedding 1.7 percent

Today the Nifty 50 index declined and reached below 19,300 level for the first time since June 30.

Reliance Industries (RIL) and financial stocks played a major role in dragging down the market. Despite this, some sectors showed strength and resilience. Pharma names witnessed gains for the second straight session, with Lupin and Aurobindo emerging as top gainers.

One of the major surprises of the day was Zomato, which reported a profit for the first time. This news fueled a surge in the stock price, pushing it up by more than 2 percent.

MRF, the tire manufacturer, also proved its mettle by beating expectations for the second quarter in a row, resulting in an impressive surge of nearly 5 percent in its stock price.

Diagnostic stocks experienced a boost following positive commentary from Metropolis, while Dixon Tech gained 8 percent as the government imposed restrictions on laptop and computer imports.

In the pharmaceutical sector, Laurus Labs continued its winning streak, gaining for the fourth straight session and rising by an impressive 14% over the week.

Ambuja made headlines with its acquisition of Sanghi Industries, leading to both stocks experiencing a positive impact, rising by 3-5 percent

Vedanta, however, faced a setback, falling by 7 percent post a block deal of 4 percent equity, with speculations suggesting a promoter sell-off.

NBFC names remained under pressure due to mixed earnings, with Chola Fin ending as the top loser.

Ahead of earnings, LIC Housing closed with cuts of more than 3 percent, while SBI fell 1 percent in anticipation of its results. The net interest income (NII) for SBI is expected to rise by 31 percent YoY.

Sun Pharma ended with minor gains after a strong set of results for Q1, while realty stocks slipped as Godrej Properties reported a weak quarter.

Lastly, IndiGo experienced profit booking post-earnings, closing the session with a cut of 5 percent, and Titan missed expectations in the April-June quarter, ending 3 percent lower.

Also read: Stock Market Highlights: Nifty 50, Sensex close lower for third straight session dragged by Reliance, financials

First Published:Aug 3, 2023 3:39 PM IST