The Indian stock market today concluded lower on August 12, with major indices reversing gains from the previous session. This market decline was largely driven by profit booking and investor caution ahead of crucial U.S. inflation data.
The Sensex today and Nifty 50 today experienced notable downward movements, highlighting a subdued sentiment across the board.
Key Indices Show Downward Movement
The Sensex fell 368 points, closing at 80,235.59, while the Nifty 50 declined by 97.65 points, settling at 24,487.40. Both benchmark indices erased nearly half of their previous session’s rally, indicating a shift in stock market performance.
Despite positive cues from Asian markets, investors maintained caution, awaiting clarity on the Federal Reserve’s rate outlook and the upcoming August 15 US-Russia talks. Technical indicators suggest support for the Nifty 50 near 24,350, with resistance around 24,700.
Top Losers on BSE :
The day saw several heavyweights contributing to the market decline, marking them as biggest stock losers. Among the BSE top losers and NSE top losers, sentiment was particularly weak in banking, Fast-Moving Consumer Goods (FMCG), and financial sectors.
Key Laggards Included:
- Bajaj Finance (BAJFINANCE), a Non-Banking Financial Company (NBFC), closed at 852.90, down 25.20 points, a decline of 2.87%. Its turnover for the day was 29.88 Crore, with a market capitalisation of 5,30,016.73 Crore.
- Trent Ltd (TRENT), specialising in Retail, saw its shares drop by 79.40 points to 5364.70, representing a 1.46% fall. For the last four trailing quarters, the scrip’s PE ratio has been higher than 50.
- Diversified FMCG business Hindustan Unilever Ltd (HINDUNILVR) saw a 1.39% decline in trading, falling 34.95 points to 2483.60. Similar to Trent, its PE ratio has also remained above 50 for the past four trailing quarters.
- HDFC Bank Ltd (HDFCBANK), a Private Sector Bank, ended at 1969.95, down 26.05 points, a 1.31% decline. The bank recorded a turnover of 57.00 Crore for the day.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
इस संसार में आत्मा का ज्ञान सबसे श्रेष्ठ है। यह व्यक्ति को बंधनों से मुक्त करता है।
There is nothing more sublime in this world than the knowledge of the Self. It liberates one from all bonds and brings true wisdom.
