August 8, 2022
Share Market Today: Sensex and Nifty closed with slight decline

Share Market Today: Indian benchmark indices ended with a marginal decline in a very volatile session today. At close, the Sensex was down 51.73 points or 0.09 per cent at 58,298.80 and the Nifty was down 6.20 points or 0.04 per cent at 17,382. About 1515 shares have risen, 1735 shares have declined and 141 shares have remained unchanged.

These Shared Beneficiaries

Cipla, Sun Pharma, Nestle India, Infosys and Apollo Hospitals were among the major gainers on the Nifty. NTPC, Tata Consumer Products, Coal India, SBI and Reliance Industries are among the major losers. NTPC’s stock was the frontrunner in the downward race, down 3 per cent.

Among sectors, metal, IT and healthcare are up 1-2 per cent, while the realty index is down 1 per cent. BSE Midcap and Smallcap indices closed with marginal gains.

Ups and downs on both sides a day before RBI’s policy

The Bank Nifty index saw volatility on both sides a day before the RBI policy. Bulls and Bears are trying to fight from both ends with support at 37,200 and resistance at 38,200 level. The index is already trading in overbought territory and a correction from the current levels cannot be ruled out.

Foreign investors buy Indian equities net worth $1.07 billion

According to experts, overall market sentiment is looking good, foreign investors remain buyers and global cues remain on the positive side, which has helped the market. According to the data, foreign investors bought Indian equities worth a net $1.07 billion in the first three trading sessions of this month. Market participants await the outcome of the Reserve Bank of India’s monetary policy meeting on Friday. The RBI has raised rates twice since May and is expected to hike rates again to tame persistent high inflation in Asia’s third-largest economy. However, views on the quantum of the increase were widely divided between 25 basis points and 50 basis points. India’s retail inflation remained above the 7 per cent mark for the sixth consecutive month in June and beyond the central bank’s tolerance band, But it has slowed somewhat in recent months.

Asian markets closed in the green

Talking about the external markets, Asian markets closed in the green as the tension between the US and China eased. Japanese shares rose on Thursday, despite a fall in Toyota Motor Corp. Japan’s Nikkei stock average closed up 0.69 per cent. Meanwhile, Chinese indices rose on the back of newly launched infrastructure projects aimed at stabilizing the economy. The Hang Seng was up 2 per cent and the Shanghai Composite Index was up 0.8 per cent today.

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