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The stock market is subject to significant volatility and inherent risks. Investing in stocks involves potential losses and is not guaranteed to generate profits. Prices of stocks can fluctuate unpredictably, We do not give any buy/sell tips. This article is for Educational purposes only.

Indian Indices

I) Nifty: opened at 24789 and touched a high of 24851 then a low of 24686 and closed at 24717 with a total of - 293 points in Negative

II) Bank Nifty: open 51172 and touched a high of 51608 then a low of 51087 and closed at 51350 With a total of - 213 points Negative

III) Fin Nifty: open 23254 and touched a high of 23476 then a low of 23238 and closed at 23365 With a total of - 69 points in Negative

IV) Nifty Mid Select: open 12730 and touched a high of 12768 then a low of 12594 and closed at 12625 With a total of - 231 points in Negative

NSE Advance and Decline

Nifty 500 Top Gainer

Zomato share price today: Zomato share price surged 19 per cent to a fresh record high of Rs 278.45 per shar intraday. Nearly 418.73 million shares changed hands on the counter on NSE & BSE on Friday

Adani Enterprises has approved demerger of the food FMCG business to Adani Wilmar along with AEL's strategic investment in Adani Commodities LLP

PCBL, Firstsource shares gain another 10% each, extend gains post bullish commentary

Nifty 500 TOP LOSER

Shares of Cummins India Ltd. slipped 6.91 per cent to Rs 3549.75 in Friday's trade as of 02:10PM (IST). The stock hit a high price of Rs 3752.0 and low of Rs 3472.0 during the session.

Seeing good recovery in rural market; industry will continue to do well: Bharat Madan, Escorts Kubota

Birla soft says discretionary spending still tight, will continue for some more quarters

Prabhudas Lilladher recommended hold rating on Emami with a target price of Rs 831 in its research report dated August 01, 2024.

Sectoral Performance

Outperforming stocks vs nifty 500 over 1 week

Underperforming Stock vs Nifty 500 over 1 week

Stock With Rising Volume

Headlines

Today, the Indian stock market witnessed notable stock-specific movements, influenced by various factors, including company earnings and broader market trends.

Earnings and Stock Reactions:

1. Eicher Motors saw a significant decline of over 5% following a disappointing sales report for Royal Enfield in July. The company's shares were impacted as the market reacted negatively to the lower-than-expected sales figures​ (mint)​.
2. SJS Enterprises experienced a robust 12% surge, reaching a record high after posting impressive Q1 results. The strong financial performance of the company led to increased investor confidence​ (mint)​.
3. ITC shares faced pressure, declining after the company's Q1 results missed market expectations. The performance shortfall led to a sell-off in the stock, highlighting investor concerns over the company's growth prospects​ (mint)​.
4. Adani Enterprises received a positive outlook from Jefferies, which anticipates a 20% gain following strong Q1 results. The company's stock reacted favorably to the positive sentiment from analysts​ (mint)​.
5. BEL (Bharat Electronics Limited), despite a strong performance over the past year, faced a decline of 2.16% as broader market indices weakened. The drop in share price was part of a broader decline across several sectors​ (Pulse by Zerodha)​.

Market Trends and Sectoral Impact:

1. Nifty Metal Index fell by 3%, influenced by weak manufacturing data from the US and China. This sector-wide decline reflects concerns over global economic conditions and their impact on metal demand​ (mint)​.
2. Kizi Apparels IPO, expected to conclude allotment today, drew significant investor interest. Market participants are keenly awaiting the listing, which could see substantial activity based on the demand observed during the IPO phase​ (mint)​.
3. Multibagger Stocks: Shares of Hind Rectifiers hit a new all-time high with a 5% increase, continuing its strong upward trajectory. This performance underscores the investor interest in companies with consistent growth prospects​ (mint)​​ (Pulse by Zerodha)​.
4. Declines in Major Stocks: Several large-cap stocks, including Siemens, Bharat Forge, and DLF, experienced declines as market sentiment turned cautious. The declines ranged from 0.75% to 2.6%, reflecting broader market weakness​ (Pulse by Zerodha)​.

Overall, today's market movements were characterized by mixed reactions to earnings reports, with significant fluctuations in individual stocks based on company-specific news and broader economic indicators.

See our last market recap