Stock market update: Nifty Bank index falls 0.79%
ADVERTISEMENT Shares of ICICI Bank Ltd.(up 0.77 per cent), HDFC Bank Ltd.(up 0.2 per cent) and IDFC First Bank Ltd.(up 0.03 per cent) ended the day as top gainers in the pack.
On the other hand, Kotak Mahindra Bank Ltd.(down 7.44 per cent), IndusInd Bank Ltd.(down 2.63 per cent), Punjab National Bank(down 1.5 per cent), Bank of Baroda(down 1.28 per cent) and State Bank of India(down 1.17 per cent) finished as the top losers of the day.
The Nifty Bank index closed 0.79 per cent down at 56084.9. Benchmark NSE Nifty50 index ended down 156.1 points at 24680.9, while the BSE Sensex stood down 572.07 points at 80891.02. Among the 50 stocks in the Nifty index, 16 ended in the green, while 34 closed in the red.
ADVERTISEMENT Shares of Vodafone Idea, Ola Electric Mobilit, PC Jeweller, Indian Energy Exchg and Suzlon Energy were among the most traded shares on the NSE. Shares of Vimta Labs, Sudarshan Chemical, Times Guaranty, CarTrade Tech and UPL (PP)hit their fresh 52-week highs in today's trade, while Stampede Cap, Future Consumer, Supreme Holdings, Supreme Engineering and Reliance Comm hit their fresh 52-week lows.
ADVERTISEMENT
(You can now subscribe to our ETMarkets WhatsApp channel)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
2 hours ago
- Mint
Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday — 4 August 2025
Buy or sell stocks: Following weak global cues after Trump's tariff bombshell on Thursday night, the Indian stock market ended lower on Friday. The Nifty 50 index finished southward for the fifth successive week, its prolonged losing streak since the week ending August 25, 2023. This selling was across segments, as the BSE Sensex and the Bank Nifty index witnessed selling pressure in the previous week, while the small-cap and mid-cap indices ended more than 2% lower last week. Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market is trading cautiously after the US administration's imposition of a 25% tariff. The Choice Broking expert said the Nifty 50 index is in the 24,500 to 24,950 range. A bullish or bearish trend can be assumed on the breakage of either side of this range. Speaking on the outlook of the Nifty 50 index, Sumeet Bagadia said, "The Indian stock market sentiment is cautious as the Nifty 50 index is trading in the 24,500 to 24,850 range. The key benchmark index has crucial support placed at 24,500, whereas it is facing resistance at the 50-DEMA of 24,900 to 24,950. A bullish or bearish trend can be assimilated on the breakage of either side of this range." The Choice Broking expert suggested investors look at stocks that look strong on the technical chart and recommended buying ITC, Asian Paints, and Metropolis Healthcare next week. 1] ITC: Buy at ₹ 416.45, Target ₹ 450, Stop Loss ₹ 400. ITC's share price is currently trading at ₹ 416.45 and has witnessed a decline of nearly 22% from its recent highs, followed by a prolonged consolidation phase. The stock has recently formed a Falling Wedge pattern on the daily chart—typically a bullish reversal setup that indicates a potential breakout on the upside. ITC's share price now appears to be on the verge of breaking out of this formation, supported by consistent trading volumes that reflect steady accumulation at lower levels. A sustained move above the ₹ 425 mark would confirm the breakout, potentially triggering a trend reversal and opening up room for a move toward higher price levels. This breakout would also signal a shift in sentiment from consolidation to strength. From a momentum perspective, the Relative Strength Index (RSI) stands at 51.31 and has recently given a positive crossover, moving upward and suggesting improving bullish momentum. Technically, the stock is hovering between its short-term and medium-term EMAs. A successful hold above these levels, followed by a sustained move above the long-term EMA, would further strengthen the bullish outlook. Given the encouraging technical pattern, steady volumes, and improving momentum, traders may consider buying ITC shares at the current market price of ₹ 416.45, with a stop-loss at ₹ 400 to limit downside risk. A breakout above ₹ 425 could pave the way for an upside toward ₹ 450 in the short to medium term, offering a favourable risk-reward opportunity. 2] Asian Paints: Buy at ₹ 2431, Target ₹ 2650, Stop Loss ₹ 2320. Asian Paints' share trades at ₹ 2,431 and moves within a broad consolidation range near its lower levels. This extended consolidation phase, supported by steady trading volumes, indicates accumulation and growing investor interest at these price zones. The stock has recently shown signs of recovery, bouncing from its short-term and medium-term exponential moving averages (EMAs). While it has attempted to cross above its long-term EMA, it has yet to sustain a close above that level—making a decisive breakout above it crucial for further strength. A sustained move above the ₹ 2,500 level could confirm bullish momentum, potentially triggering a fresh upward leg in the price action. This breakout would signify the end of the current range-bound behaviour and open the door for further gains toward higher levels. From a momentum perspective, the Relative Strength Index (RSI) stands at 59.29 and has recently given a positive crossover, trending upward. This suggests strengthening momentum and increasing bullish sentiment, further supported by price action holding above key EMAs. Given the constructive chart structure, improving RSI, and substantial volume support, traders may consider buying Asian Paints shares at ₹ 2,431, with a stop-loss placed at ₹ 2,320 to manage downside risk. A sustained breakout above ₹ 2,500 could lead to an upside toward ₹ 2,650 in the short to medium term, offering an attractive risk-reward setup for positional traders. 3] Metropolis Healthcare: Buy at ₹ 2037.70, Target ₹ 2260, Stop Loss ₹ 1925. Metropolis Healthcare's share price is currently trading at ₹ 2,037.70 and has shown signs of strength after a corrective move from its recent swing high. Following the decline, the stock entered a consolidation phase and witnessed a strong bounce from its demand zone, indicating renewed buying interest at lower levels. Metropolis Healthcare's share price on the daily chart is forming a Cup & Handle pattern. This bullish continuation formation typically signals the potential for further upward movement once the breakout is confirmed. A recent spike in trading volumes further validates the accumulation during the handle formation, indicating strong participation. A sustained move above ₹ 2,100 would confirm the breakout from this bullish setup and could trigger a fresh upward rally, resuming the stock's prior uptrend. From a momentum standpoint, the Relative Strength Index (RSI) is at 63.54 and has given a positive crossover, suggesting strong bullish sentiment and further upside potential. Additionally, the stock has retraced towards its short-term EMA and is now comfortably trading above all key moving averages—short-term, medium-term, and long-term—reinforcing the positive outlook. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
4 hours ago
- Economic Times
Gold breaks past inflation-adjusted 1980 high in 2024; silver lags below 2011 peak: DSP Mutual Fund
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Hans India
4 hours ago
- Hans India
Indian markets dip marginally this week amid tariff concerns
Mumbai: The Indian benchmark index Sensex plunged over 600 points this week, while the Nifty fell to a two-month low, closing below the 24,600 mark amid widespread selling across sectors. Market sentiment was weighed down by concerns over the newly imposed 25 per cent US tariff on Indian exports, persistent FII selling, and weakness in global markets, analysts said on Saturday. "The market oscillated between cautious optimism and defensive positioning, ultimately ending lower due to a persistent FII outflow. With global headwinds, investors showed a preference for domestically driven stories with non-discretionary appeal, as broader sentiment turned selective. FMCG stocks stood out, benefiting from attractive valuations and insulation from external shocks," said Vinod Nair, Head of Research, Geojit Investments Limited. FMCG stocks rallied sharply after companies like HUL, Dabur India, and Emami reported strong Q1 results, pushing the Nifty FMCG Index up nearly 1 per cent. Key sectors such as auto, metal, IT, and pharma declined 2–3 per cent amid concerns over the U.S. trade action. Analysts said that the US tariffs will not have a direct bearing on Indian markets, given that major exports are of traditional items such as gems & jewellery, leather and textiles that do not have large representation in the listed space. They feel the bulk of the tariff concerns may already be priced in, and a steep fall is highly unlikely. The Nifty index formed a bearish candle on the daily and weekly timeframes and has been making lower lows for the past four weeks. If it remains below 24600 zones, weakness could be seen towards 24,442 and 24,250 zones, with hurdles shifting lower to 24800 and 24950 zones, according to analysts at Motilal Oswal. During the week shares of tech major Tata Consultancy Services (TCS) slipped 5 per cent, following the company's announcement to lay off around 12,200 employees in FY26. Asian, European, and US index futures dropped around 1 per cent after President Trump signed an executive order introducing 'reciprocal' tariffs on multiple countries, with rates ranging from 10 per cent to 41 per cent, set to take effect in seven days. The move has sparked fears of rising inflation and slowing global growth. Amid such widespread concerns of global slowdown, the International Monetary Fund's July update to its World Economic Outlook raised the global growth forecast for 2025 to 3 percent, which is a 0.2 percentage point increase from its April projection.
