Sensex and Nifty50 index slips as Sectoral indices saw losses, with the Nifty Auto index falling 2%, followed by Nifty Metal and PSU Bank indices declining 1.6% and 1.4%, respectively.
India’s Nifty fell from record highs due to automaker price cuts, earnings season anticipation, and budget cues, with Sensex falling 0.53 percent and Nifty declining 0.45 percent.
Sectors and stocks
Mahindra & Mahindra Ltd shares dropped 6.8% on the Sensex index following reduced prices for a sports-utility vehicle. TCS stock fell 1.8% ahead of June quarter earnings. Sectoral indices saw losses, with Nifty Auto leading losses.
Global stocks surged following US Federal Reserve Chair Jerome Powell’s testimony, indicating potential interest rate adjustments later this year due to a cooling US job market and a potential September release of the consumer price index.
July 11 Forecast
The Nifty and Sensex indices experienced profit bookings today, with the Auto index losing over 2%. Despite weak market sentiment, buying interest was seen in FMCG and Pharma stocks. The Auto index reached support near 24150/79400, with a bearish candle indicating continued weak sentiment. If above, it could retest 24450/80500, while below, it could slip.
The Bank Nifty index faces selling pressure and is near a crucial support zone of 52000-51800. If above 52500, it could lead to a pullback rally, while below 51800, it could decline further.
| FII Bought | 583.96 Cr |
| DII Bought | 1,082.40 Cr |
Indian Market Stocks
| Sensex | -426.87 | -0.53% | 79,924.77 |
| Nifty 50 | -108.75 | -0.45% | 24,324.45 |
| Nifty Bank | -379.50 | -0.72% | 52,189.30 |
Market Movers
| Asian Paints | 91.45 3.15% | M&M | -193.50 -6.61% |
| SBI Life Insura | 34.05 2.23% | Tata Steel | -3.82 -2.22% |
| Divis Labs | 85.00 1.87% | Hindalco | -13.70 -1.94% |
| Britannia | 86.70 1.53% | TCS | -76.35 -1.92% |
| Grasim | 40.35 1.46% | Hero Motocorp | -80.40 -1.44% |
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Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Indian indices opened positively, with Sensex and Nifty reaching 76,000 and 23,100, respectively. Top gainers included Divis Labs, IndusInd Bank, Axis Bank, LTIMindtree, and Adani Ports, while losers included Adani Enterprises, Wipro, Grasim Industries.
Sensex Sensex Sensex
Sensex After four weeks of increases, Sensex and Nifty fell 2% for the first time After four weeks of increases, Sensex and Nifty fell 2% for the first time
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
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