Nifty Down 9 Pts & Sensex Drops 27 Pts on July 11, 2024

Nifty ? ? ? ??24,315 [-8.50] 0.03

Sensex? ? 79,897 [-27.43] 0.03

Reasons for Sideways Market

• Market participants are cautious and awaiting the upcoming earnings season and the 2024 Union Budget scheduled for July 23.?

• The uncertainty surrounding these events likely kept the market range-bound and prevented significant movements.

• The market was influenced by global cues, including anticipation around US inflation data and comments from US Federal Reserve Chair Jerome Powell regarding rate cuts.?

• These factors added to the cautious sentiment, with investors monitoring global economic indicators closely, contributing to a flat closing in the Indian market.

Top 3 Stocks That Lost The Most?

Nifty?

Tata Consumer Products Ltd:? -1.79

Bajaj Finance:? -1.36

Divi's Lab:? -1.19?

Sensex?

Bajaj Finance:? -1.52?

M&M:? -1.32

NTPC:? -1.28?

• Mahindra & Mahindra's stock fell today due to the company announcing a temporary price cut for its flagship XUV700 AX7 variant. This move, aimed at boosting sales, raised concerns among investors about potential pressure on profit margins.

Sectors of the Day?

Nifty Realty:? -1.49?

Nifty Healthcare Index:? -0.65?

Nifty Pharma:? -0.60?

IPO Performance

• Prizor Viztech Limited IPO will be open for bidding from July 12, 2024, to July 16, 2024, with shares priced at ?82 to ?87 per share.?

• Sati Poly Plast Limited IPO will be open for bidding from July 12, 2024, to July 16, 2024, with shares priced at ?123 to ?130 per share.

• Aelea Commodities Limited IPO will be open for bidding from July 12, 2024, to July 16, 2024, with shares priced at ?91 to ?95 per share.

• Three M Paper Boards Limited IPO will be open for bidding from July 12, 2024, to July 16, 2024, with shares priced at ?67 to ?69 per share.?

Key Events to Track For 12th July 2024?

• Monitor international markets for any significant developments or trends that could impact Indian markets.?

• Keep an eye on scheduled economic data releases such as GDP figures, industrial production data, or inflation reports, as they can influence market sentiment and direction.?

• Track earnings announcements from major companies across sectors, to gauge the health of the corporate sector and anticipate market reactions.?

• Stay informed about any policy announcements or decisions by the Indian government, as they can impact market sentiment and specific industries.?

• Stay updated on global events as they can affect Indian markets and investor sentiment.

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