Business EconomyPosted at: Jul 22 2024 6:36PM


Sensex drops 102.57 points on eve of budget

Mumbai, July 22 (UNI) India’s benchmark indices continued losing streak for the second day as the BSE Sensex lost 102.57 points to settle at 80,502.88 mainly due to weak global cues and as a caution on the eve of general budget by the Modi government tomorrow.
The National Stock Exchange (NSE) Nifty also slipped 21.65 points to 24,509.25.
Slumping over 700 points on Friday, the Sensex opened negative at 80,408.90 and fell 196 points. During the days it tumbled down 504 points at 80,100.65, before closing at 80,502.88, down 102.57 points from its previous close.
The loss was majorly in heavy weights like Reliance Industries, Kotak Bank, Wipro and ITC. Bankex fell by 0.27 per cent, Realty by 0.53 per cent and Energy by 0.67 per cent.
The Foreign Institutional Investors (FIIs) were net buyers worth Rs 1506 crore while the Domestic Institutional Investors (DIIs) sold equities to the tune of Rs 462 crore in the last trading session, according to data available.
The Mid Cap rose by 1.27 per cent and Small Cap by 0.83 per cent. In 30 scrips, 14 advanced while 16 declined. The losers were Reliance Industries by 3.46 per cent to Rs 3002, Kotak Bank by 3.30 per cent to Rs 1761.70, ITC by 1.75 per cent to Rs 466, SBI by 1.21 per cent to Rs 874.80 and HCL Technologies by 0.94 per cent to Rs 1579.30.
The gainers were NTPC by 2.58 per cent to Rs 373.90, Ultracemco by 2.34 per cent to Rs 11532, HDFC Bank Ltd by 2.15 per cent to Rs 1641.60 and Tata Steel by 1.87 per cent to Rs 160.70.
In the Asian market, Strait Times declined by 0.30 pc, Taiwan Weighted by 2.75 pc and Kospi by 1.16 pc.
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