Stock Market Today: Nifty, Sensex opens with marginal decline amid weak global cues
Stock Market Today: The Indian markets opened Thursday's trading session with a marginal decline amid weak global cues.
Today, both the Nifty 50 and the Sensex opened with a marginal decline due to weak global cues. The Sensex fell by 304 points to 80,406 during early trade, and the Nifty 50 dropped by 85 points, or 0.37 per cent, to 24,526.
In the broader market on the National Stock Exchange, all major indices, including Nifty Next 50, Nifty 100, Nifty Midcap, and Nifty Small Cap, experienced selling pressure and declined.
Among the sectoral indices, all except Nifty FMCG, Nifty IT, and Nifty Realty faced declines, with Nifty Media dropping by more than 2 per cent under high selling pressure.
The top gainers in the Nifty 50 were LTIMindtree, Axis Bank, Apollo Hospital, and Infosys. Conversely, the top losers included Bajaj Auto, which saw a decline of more than 2%, followed by Asian Paints, which also dropped over 2% following its financial results. Other top losers were Hero MotoCorp, Eicher Motors, and Tata Steel.
In Asian markets, tech and chip stocks fell due to increased geopolitical tensions and US export restrictions. Japan's Nikkei 225 declined by more than 2%, while South Korea's Kospi fell by 0.98%. In India, foreign institutional investors (FIIs) bought shares worth Rs 1,271.45 crore, while domestic institutional investors (DIIs) sold shares worth Rs 529.48 crore on July 16.
Crude prices saw a slight increase, with WTI at $83.30 and Brent at $85.35. The US Dollar Index (DXY) rose by 0.05% to 103.73. In the US, markets experienced a significant drop, with the S&P 500 losing 1.39% and the Nasdaq Composite tumbling 2.77%.
- With inputs from agencies
