Stock Market Today: Sensex, Nifty End Losing Streak - Top 10 Updates
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Supported by late-session buying, benchmark indices-the Sensex and Nifty 50-ended slightly higher on Thursday, August 7, despite fragile market sentiment amid growing worries over Trump’s tariffs and their economic impact.
The Sensex edged up 79 points (0.10%) to close at 80,623.26, while the Nifty 50 rose 22 points (0.09%) to settle at 24,596.15.
Among broader markets, the BSE Midcap index gained 0.30%, whereas the BSE Smallcap index dipped 0.18%.
The Indian stock market ended in the green, defying concerns over Trump’s proposed 50% tariffs. Investors remain hopeful that India will eventually strike a favorable trade deal with the US.
Analysts believe the broader impact of the US tariffs on the Indian economy is likely to be contained, with expectations that the government may step in to support sectors most vulnerable to US exposure.
Vinod Nair, Head of Research at Geojit Financial Services, noted that market sentiment improved late in the session following reports of possible peace talks involving Trump, Putin, and Zelensky-raising hopes of a softer US trade stance.
"This renewed optimism triggered a strong rebound in the auto, pharma, metals, and energy sectors and aided the market in recalling its trajectory and concluding in the green," Nair said.
3. Top Nifty 50 Losers
On the flip side, Adani Enterprises led the decline, slipping 2.36%, while Adani Ports dropped 1.43%, and Grasim Industries shed 0.86%, emerging as the top laggards of the session.
Among financials, Nifty Bank added 0.20%, while the Financial Services index edged up 0.12%.
Out of 4,191 stocks traded on the BSE, 1,844 closed higher, while 2,193 declined. 154 stocks remained unchanged, reflecting a negative market breadth.
As many as 111 stocks touched their 52-week highs during intraday trade on the BSE, including JSW Steel, TVS Motor Company, Delhivery, Godfrey Phillips India, and Fortis Healthcare.
"Immediate resistance is seen at 24,660. A decisive move above this level could take the index towards 24,850. On the downside, support is placed at 24,400 on a closing or sustained basis,"he noted.
Chandan Taparia, Head of Derivatives and Technicals – Wealth Management at Motilal Oswal Financial Services, pointed out that on the options front, the highest Call Open Interest (OI) is seen at 24,700 and 25,000 strikes, while the maximum Put OI is at 24,500 and 24,000 strikes.
He added, "Option data suggests a broader trading range between 24,100 and 25,100 zones, while an immediate range between 24,300 and 24,800 levels,"
Disclaimer: This article is intended for informational and educational purposes only. The opinions and recommendations expressed are those of individual analysts or brokerage firms and do not reflect the views of NewsPoint. Investors are advised to consult certified financial advisors before making any investment decisions.
The Sensex edged up 79 points (0.10%) to close at 80,623.26, while the Nifty 50 rose 22 points (0.09%) to settle at 24,596.15.
Among broader markets, the BSE Midcap index gained 0.30%, whereas the BSE Smallcap index dipped 0.18%.
1. What drove the market higher today?
The Indian stock market ended in the green, defying concerns over Trump’s proposed 50% tariffs. Investors remain hopeful that India will eventually strike a favorable trade deal with the US.
Analysts believe the broader impact of the US tariffs on the Indian economy is likely to be contained, with expectations that the government may step in to support sectors most vulnerable to US exposure.
Vinod Nair, Head of Research at Geojit Financial Services, noted that market sentiment improved late in the session following reports of possible peace talks involving Trump, Putin, and Zelensky-raising hopes of a softer US trade stance.
"This renewed optimism triggered a strong rebound in the auto, pharma, metals, and energy sectors and aided the market in recalling its trajectory and concluding in the green," Nair said.
2. Top Gainers in the Nifty 50
Out of the 50 constituents, 31 stocks closed in the green. Leading the pack were Hero MotoCorp, which jumped 4.27%, followed by Tech Mahindra up 1.99%, and JSW Steel rising 1.94%.3. Top Nifty 50 Losers
On the flip side, Adani Enterprises led the decline, slipping 2.36%, while Adani Ports dropped 1.43%, and Grasim Industries shed 0.86%, emerging as the top laggards of the session.4. Sectoral Performance
Barring Nifty Oil & Gas (down 0.19%) and Realty (down 0.13%), all sectoral indices closed in the green. Media led the gains, rising 0.99%, followed by IT (up 0.87%) and Pharma (up 0.75%).Among financials, Nifty Bank added 0.20%, while the Financial Services index edged up 0.12%.
5. Most Active Stocks by Volume
Eternal led the volume charts on the NSE with 39.15 crore shares traded, followed by Vodafone Idea at 28.18 crore shares and Suzlon with 7.55 crore shares, making them the most actively traded stocks of the day.6. Seven Stocks Surge Over 15% on BSE
A total of seven stocks, including NSDL, Pecos Hotels and Pubs, and Pioneer Investcorp, rallied over 15% on the BSE in today’s session.
7. Advance-Decline Ratio
Out of 4,191 stocks traded on the BSE, 1,844 closed higher, while 2,193 declined. 154 stocks remained unchanged, reflecting a negative market breadth.
8. 111 Stocks Hit 52-Week Highs
As many as 111 stocks touched their 52-week highs during intraday trade on the BSE, including JSW Steel, TVS Motor Company, Delhivery, Godfrey Phillips India, and Fortis Healthcare.You may also like
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9. 161 Stocks Touch 52-Week Lows
A total of 161 stocks hit their 52-week lows on the BSE, including Cohance Lifesciences, Five-Star Business Finance, IEX, Ratnamani Metals & Tubes, and Tejas Networks.10. Nifty's Technical Outlook
Rupak De, Senior Technical Analyst at LKP Securities, believes the Nifty may continue its short-term recovery."Immediate resistance is seen at 24,660. A decisive move above this level could take the index towards 24,850. On the downside, support is placed at 24,400 on a closing or sustained basis,"he noted.
Chandan Taparia, Head of Derivatives and Technicals – Wealth Management at Motilal Oswal Financial Services, pointed out that on the options front, the highest Call Open Interest (OI) is seen at 24,700 and 25,000 strikes, while the maximum Put OI is at 24,500 and 24,000 strikes.
He added, "Option data suggests a broader trading range between 24,100 and 25,100 zones, while an immediate range between 24,300 and 24,800 levels,"
Disclaimer: This article is intended for informational and educational purposes only. The opinions and recommendations expressed are those of individual analysts or brokerage firms and do not reflect the views of NewsPoint. Investors are advised to consult certified financial advisors before making any investment decisions.
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