After surging for the fifth day, the stock market faced losses on July 8. Sensex saw 345 points loss and ended trading at 36,329 points.
Nifty faced loss of 94 point and closed at 10,705 points. During trading Nifty rose till 10,845 points.
On the last three days of trading last week and the first two days of this week, the market had registered gains. But it could not sustain that gain on July 8. Unable to break the 10,800-point barrier, the market saw booking of profits on the day.
In the 50 share Nifty Index, only 14 stocks gained on the day. Zee Limited. Bajan Finance, Tata Motors, Asian Paints and HCL Technologies were the shares that brought losses to the market.
IndusInd Bank, Vedanta, JSW Steel, Hindalco and Dr. Reddy’s are the shares that registered most gains. Of the five Nifty shares, that of IndusInd Bank gained 4.42%.
Automobile shares faced huge losses. Nifty auto index crashed 2.02%. Shares of Maruti Suzuki, Tata Motors and TV Motors saw over 3% loss.
At the same time Pharma shares put up an average show, Aurobindo Pharma rose over 3%.
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