The Indian stock markets closed slightly in the red on Thursday, July 3, after a volatile session marked by early gains and late selling pressure. The BSE Sensex slipped 170 points (0.20%) to settle at 83,239, while the NSE Nifty 50 lost 48 points (0.19%) to finish at 25,405.
Earlier in the day, both indices had surged, with the Sensex rising over 440 points. However, profit booking in financial and metal shares dragged benchmarks lower toward the close.
Among the major laggards on the Sensex were Kotak Mahindra Bank, Bajaj Finserv, Bajaj Finance, Adani Ports, State Bank of India, Titan, Tata Consultancy Services, and Trent. In contrast, Maruti Suzuki, Infosys, NTPC, Asian Paints, Hindustan Unilever, and Eternal ended in the green, supported by strength in the auto and pharma sectors.
Sectoral performance was mixed. Autos and pharmaceuticals advanced, while metals and real estate stocks underperformed. Broader market indices were largely flat, reflecting a cautious approach by investors.
Global Cues
Globally, Asian markets posted mixed performances. Japan’s Nikkei, South Korea’s Kospi, and China’s Shanghai Composite closed higher, while Hong Kong’s Hang Seng index declined. European markets were trading on a mixed note, and US benchmarks, including the S&P 500 and Nasdaq, had closed at record highs in the previous session.
Currency Movement
The Indian rupee appreciated against the US dollar, closing near 85.55. The gain was driven by expectations of an interest rate cut in the US and positive trade signals between the US and Vietnam. This helped provide some support to domestic market sentiment, despite the late-day selling in equities.
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