Stock Market News: Sensex Drops Over 750 Points, Nifty Above 24,300 As Headline Indices End Lower

D-street felt the impact of the trade-tariffs in today’s trade as the Sensex and the Nifty ended the week on a negative note. The Sensex declined to 79,857.79 shedding 765.47 points or 0.95 per cent. The Nifty 50 index also fell to 24,363.30 declining 232.85 points or 0.95 per cent.

IndusInd Bank and Bharti Airtel Lead Losers

Shares of IndusInd Bank and Bharti Airtel closed lower by 3.32 per cent and 3.28 per cent on the NSE and led the losers among Nifty 50 stocks. Other major losers included Adani Enterprises, Shriram Finance and Tata Motors which finished the session lower by as much as 3.15 per cent. Shares of NTPC, Titan and Dr Reddy’s Laboratories emerged as top gainers amid the broad-based declines as they finished the session with gains of up to 1.59 per cent.

Nifty Metal, Nifty Realty and Nifty Auto Worst Hit

The Nifty Metal, Nifty Realty and the Nifty Auto indices led losers among the sectoral pack as they closed lower by as much as 2.11 per cent. Notably all sectoral indices finished the session in the red on August 8. Amid selloffs and tariff-related uncertainties, the broader market indices, the Nifty SmallCap 100 and the Nifty MidCap 100 also finished the session lower by 1.64 per cent and 1.49 per cent respectively.

Global Markets on August 8

Wall Street indices finished mixed on August 7 with the S&P 500 and the Dow Jones Industrial Average closing in the red with declines of 0.08 per cent and 0.51 per cent, respectively. Nasdaq Composite closed with gains of 0.35 per cent. On the other hand, the Nikkei 225 finished higher by 1.73 per cent. However, other Asian indices such as the Hang Seng, Shanghai Composite and the KOSPI ended the session lower by as much as 1.2 per cent.

Primary Market Action On August 8

The public issues of Star Imaging & Path Lab IPO, Medistep Healthcare IPO and ANB Metal Cast IPO opened for bidding on August 8

Market Cues

In the upcoming week, D-Street will continue to factor in the June quarter results announced by various companies, along with any further announcements related to the imposition of trade tariffs.