In the afternoon deals of July 8 i.e. Thursday, the Indian equity benchmark indices decreased by over half a per cent. The S&P BSE Sensex ended at 486 points or 0.92 per cent to down at 52,569 levels along with Nifty50 Index lowering by 152 points and dropping below its psychological level of 15,700.
On Thursday, global stocks witnessed a fall tracking a slump in Asia. This has occurred in the middle of China’s crackdown on the tech sector as well as concern over the strength of the nation’s economic recovery. Moreover, the prices of oil have fallen on supply uncertainty.
Hindustan Unilever, Sun Pharma, Nestle India, State Bank of India, ICICI Bank and HDFC Bank were among the top drags on the Sensex.
The top Nifty gainers were notably Tech Mahindra, SBI Life, Eicher Motors, Bajaj Auto, HCL Technologies and IndusIndBank among others.
However, Tata Motors was noted to be a top Nifty loser whose stock declined by nearly 4 per cent and closed at ₹317. JSW Steel, ONGC, ICICI Bank, Dr. Reddy’s Labs, Hindalco, Tata Steel, State Bank of India and Grasim Industries also declined between 1.5 and 3.4 per cent.
Concerning broader markets, the BSE MidCap and BSE SmallCap Indices have slipped 0.37 per cent and 0.09 per cent respectively.
Since 1,754 shares ended lower whilst 1,422 closing higher on Bombay Stock Exchange, the breadth of overall market was reported to be negative.
