Long term return stock market Indian Stock Market Nifty 50

Stock Market Experiences Heavy Selling Amid Global Downturn

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Stock Market Overview

Yesterday witnessed significant selling pressure in the stock market, resulting in a broad decline across all sectors. The Nifty 50 index saw a pronounced drop, with major losses occurring between 9:58 AM and 11:23 AM. This widespread sell-off affected every sector, with metal stocks suffering the most substantial declines. Only four stocks in the Nifty 50 managed to register gains, indicating the severity of the market downturn.

Performance of Nifty 50 Stocks

Top Gainers

Despite the overall market decline, a few Nifty 50 stocks bucked the trend and posted gains:

  1. Hindustan Unilever (HUL): Increased by 0.87% to Rs 2,715.90.
  2. Nestle: Rose by 0.63% to Rs 2,510.90.
  3. HDFC Life: Edged up by 0.49% to Rs 710.90.
  4. Tata Consumer Products: Gained 0.48% to Rs 1,199.40.

Top Losers

Several stocks experienced significant losses:

  1. Tata Motors: Dropped by 7.31% to Rs 1,016.45.
  2. ONGC: Fell by 6.01% to Rs 310.25.
  3. Adani Ports: Decreased by 5.93% to Rs 1,493.85.
  4. Tata Steel: Slipped by 5.31% to Rs 149.82.
  5. Hindalco: Declined by 5.21% to Rs 614.30.

Global Market Impact

The Indian stock market was not alone in experiencing turmoil. Major indices around the world also suffered sharp declines. Japan’s Nikkei 225 index plummeted over 12%, while all major European and US markets ended the day in the red.

Sectoral Performance

All sectors witnessed declines, with metal stocks facing the steepest drops. The broad-based selling pressure indicated a lack of investor confidence across different segments of the market.

News Highlights

  • Automobile Sales: India’s automobile retail sales increased by 13.84% year-on-year in July. Notably, 2-wheeler sales rose by 17%, and 3-wheeler sales grew by 13%, according to the Federation of Automobile Dealers Associations (FADA).
  • UPI Transactions: Unified Payments Interface (UPI) transactions saw a 36% year-on-year increase, reaching Rs 60 lakh crore in the April-June quarter, compared to Rs 44 lakh crore in the previous year.
  • Ceigall India IPO: The Ceigall India IPO was subscribed 13.75 times on its third day, with retail subscription reaching 3.71 times. The IPO is now closed for subscription.
  • Ola Electric IPOOla Electric IPO: The Ola Electric IPO was subscribed 1.06 times on its second day, with retail subscription at 2.87 times. It closes for subscription today.

Company Updates

  • Airtel: Reported a 158% year-on-year increase in net profit to Rs 4,160 crore for the April-June quarter. The average revenue per user (ARPU) rose to Rs 211 from Rs 200 in the previous year.
  • Coal India: Formed a joint venture with GAIL to establish a coal-to-synthetic natural gas (SNG) project in Bardhaman, West Bengal.
  • Interglobe Aviation (IndiGo): Announced the launch of its new business-class section, ‘IndiGo Stretch’, with bookings starting on August 6 for the Delhi-Mumbai route, commencing in mid-November.
  • Bharti Hexacom: Reported a 101.90% rise in quarterly net profit to Rs 511.2 crore.
  • Honeywell Automation: Saw a 32.01% increase in quarterly net profit to Rs 136.5 crore.
  • Marico: Reported an 8.67% rise in quarterly net profit to Rs 464 crore.

Commodity and Currency Updates

  • Gold: The price of 10 grams of gold fell by 1.08% to Rs 69,490.
  • Silver: The price of 1 kilogram of silver dropped by 3.30% to Rs 80,960.
  • USD-INR: The exchange rate for the US dollar against the Indian rupee increased by 0.12% to Rs 83.84/USD.

International Indices

  • Dow Jones: Fell by 1.51% to 39,737.26.
  • Nasdaq: Declined by 2.43% to 16,776.16.

Long-Term Returns

Over the past 20 years, major indices have shown robust returns:

  • Sensex: 14.50% per annum.
  • Nifty: 14.32% per annum.
  • Dow Jones: 7.07% per annum.
  • Nasdaq: 11.64% per annum.

The stock market experienced a tumultuous day, driven by heavy selling across all sectors and significant global market declines. Despite the widespread downturn, a few stocks managed to post gains. Key economic indicators and company updates provided a mixed picture, reflecting growth in some areas and challenges in others. Investors will be closely watching for further developments to gauge the market’s direction in the coming days.

Read More Stock Market Daily News & Updates

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