Nifty Falls 208 Pts & Sensex Declines 692 Pts on August 13, 2024

Nifty ? ? ? ??24,139 [-208] 0.85

Sensex ? ?78,956 [-692.89] 0.87

Reasons for Market Downturn

• Major blue-chip stocks, including HDFC Bank, SBI, Tata Motors, ITC, and Bajaj Finance experienced significant losses, which led to a substantial decline in the broader market indices.

• A broad sell-off across sectors such as banking, metals, and auto stocks contributed to the market downturn.?

• Persistent selling by foreign institutional investors (FIIs) and mixed global market trends contributed to the negative sentiment in domestic equities.?

• Additionally, recent data indicating subdued growth in the major manufacturing sector and high market valuations added to the overall market pressure.

Top 3 Stocks That Lost The Most?

Nifty?

BPCL:? -3.54

HDFC Bank:? -3.26

HDFC Life:? -2.78

Sensex

HDFC Bank:? -3.45

Tata Motors:? -2.23

Bajaj Finance:? -2.23

Sectors of the Day?

Nifty Financial Services:? -1.87

Nifty Financial Services 25/50:? -1.70

Nifty Metal:? -1.64

• HDFC Bank shares fell today following MSCI's announcement that a weightage increase in its Global Standard Index will be implemented in two tranches, resulting in a lower-than-expected inflow of passive funds into the stock.

IPO Performance

• Brainbees Solutions Limited IPO shares debuted today with a premium of over 40%, opening at ?651.

• Unicommerce eSolutions Limited IPO shares debuted today with a premium of over 118%, opening at ?235.

Key Events to Track For 14th August 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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