Sensex Today Tanks 886 Points | Nifty Ends Below 24,750 | 5 Reasons Why Indian Share Market is Falling

Fri, 2 Aug Closing

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After opening the negative note, Indian share markets Slipped further as the session progressed and ended the day weak.

Equity benchmark indices - the Nifty50 and Sensex opened lower on Friday, tracking weak global cues.

At the closing bell, the BSE Sensex stood lower by 886 points (down 1.1%).

Meanwhile, the NSE Nifty closed lower by 293 points (down 1.2%).

Titan, Nestle and ICICI Bank were among the top gainers today.

HDFC Bank, Sun pharma and Britannia on the other hand, were among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

The GIFT Nifty ended at 24,708 down by 347 points.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets ended the day negative. The BSE Mid Cap ended 2.3% lower and the BSE Small Cap index ended 2.2% lower.

Sectoral indices are trading on negative note with stocks in metal sector, auto sector, energy sector and oil & gas sector witnessing buying most selling pressure.

Shares of Lupin, Torrent Pharma, and Aurobindo Pharma hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 83.75 against the US$.

Gold prices for the latest contract on MCX are trading 0.9% higher at Rs 70,560 per 10 grams.

Meanwhile, silver prices are trading 1.7% higher at Rs 83,960 per 1 kg.

Here are five reasons why Indian Markets are falling today

#1 Weak US Markets

The Indian equity market followed the correction in US markets after US stocks tumbled on Thursday due to weak manufacturing data, which raised doubts about the U.S. economy and countered optimism about potential Federal Reserve interest rate cuts.

On Thursday, The Dow Jones Industrial Average fell 1.57% to 40,200, the S&P 500 lost 1.76% to 5,424, and the Nasdaq Composite lost 2.76% to 17,114.

#2 Asian Market

Asian shares slid after weaker-than-expected U.S. factory data sparked fears of a worsening economic outlook.MSCI's broadest index of Asia-Pacific shares outside Japan slumped 0.8% in early Asia trade, tracking a sharp selloff on Wall Street.Japan's Nikkei was meanwhile headed for its worst day in over four years, weighed down by a surging yen, as well as uncertainty over how high domestic interest rates could rise. It was last 4.89% lower, on track for its steepest daily fall since March 2020.

#3 Missing Trigger in Earnings

The June quarter result of India Inc. has been mixed so far, raising concerns that the market may not sustain the current valuation levels.

#4 Rise in Oil prices

Oil prices rose on Friday amid concerns over potential supply disruptions in the key Middle East production region.Brent crude futures gained 0.8%, to US$ 80.1 a barrel, while U.S. West Texas Intermediate crude futures rose 61 cents, or 0.8%, to US$ 76.9.

#5 Geopolitical Tension

Geopolitical tensions also weighed on sentiment after the Israeli military said on Thursday that Mohammed Deif, the head of Hamas' military wing, was killed in an Israeli airstrike in Gaza last month, following the death of the group's political leader, Ismail Haniyeh, in Tehran the previous day.These developments have added pressure to crude oil prices, which have risen over 2% in the last three days.

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Why Adani Wilmar Share Price is Rising

In news from the FMCG sector, shares of FMCG firm Adani Wilmar jumped 6.4% on BSE after Adani's flagship entity Adani Enterprises on Thursday approved the demerger of the company's food FMCG business to Adani Wilmar.

The demerger scheme also includes Adani Enterprises' strategic investment in Adani Commodities.

Adani Enterprises said the food FMCG business has become self-sustained, performing well and poised for further growth under Adani Wilmar.

The demerger will also provide scope for independent collaboration and expansion.

The nature of risk, competition, challenges, opportunities and business methods for food FMCG business is separate and distinct from other businesses being carried out by the demerged company.

Adani Wilmar is one of the largest fast-moving consumer goods (FMCG) companies in the country.

Its products include edible oil, wheat flour, rice, pulses, and sugar.

The company has products in three broad categories - edible oil, packaged goods and FMCG, and industrial essentials.

ADANI WILMAR Share Price Chart (Rs) - 1 Year

Why Triveni Engineering Share Price is Falling

Moving on to news from the sugar sector, shares of Triveni Engineering fell up to 5.5% after the company reported a 54% drop in its consolidated net profit for the June 2024 quarter.

Triveni Engineering reported a net profit of Rs 310 m for the quarter ending in June, down from Rs 680 m the previous year. The company attributed the lower profitability to decreased segment performance across most of its businesses.

The sugar segment, despite a higher share of sales, suffered from reduced production and increased off-season expenses due to the early closure of the season.

Meanwhile, the alcohol segment faced challenges from government restrictions on grain feedstocks, which led to the substitution of surplus rice with maize.

This substitution raised molasses transfer prices and resulted in a 4.3% decline in sales volume, exacerbated by a drop in higher-margin ethanol production from sugarcane feedstocks.

The water business was a notable exception, showing improved profitability due to effective cost savings.

The EBITDA fell over by 30% YoY to Rs 970 m and EBITDA margin reduced to 7.5% from 11.4%.

The revenue from operations (net of excise duty), however, increased by 8.6% YoY to Rs 13 bn "mainly due to higher sugar sales volumes as well as improved realisations."

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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