Stock market falls for second day in a row

The Gulf Indians — Thu, 30 Jul 2020 10:48:45 +0000

The stock market continued to decline for the second day on July 30. The Sensex was down 335 points. The Sensex had lost 757 points on July 29 and July 30.
The Sensex, which had climbed to 38,413.81 points crashed as it couldn’t hold on to the pressure point. It closed at 37,736 points.

Similarly, the Nifty ended 110 points lower at 11,102 points. Nifty was up by 11,299.95 points during trading. From there it dropped about 200 points. The Nifty is under strong pressure at 11,300. It couldn’t break through and booking of profits was noticed in the market.

Dr Reddy’s, Sun Pharma, Wipro, Vedanta and Maruti Suzuki are the top five gainers in the Nifty. Dr. Reddy’s gained 4.60 per cent. The stock hit a 52-week high, setting a new record.

Pharma stocks helped keep the market afloat on the day. Divis Lab was up 5.67% and Sun Pharma was up 3.37%. Similarly, the Nifty gained 3.11 per cent on July 30.

IT stocks also gained today. IT stocks including Infosys, Wipro and pharma stocks such as Sun Pharma and Cipla also recorded a 52-week high.

BPCL, IndusInd Bank, IOC, HDFC and Axis Bank were the top five losers in the Nifty. BPCL lost 8 per cent today. IOC fell 4 per cent.

Bank stocks lost ground on July 30. The Nifty Bank Index fell by 2 per cent. IndusInd Bank fell 5 per cent.

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Market snaps winning streak

The Gulf Indians — Wed, 08 Jul 2020 12:46:34 +0000

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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Stock market falls for second day in a row

Market snaps winning streak