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News Topical, Digital Desk : On the day of August series expiry, pressure was seen in the domestic stock market. On Thursday, Sensex and Nifty closed with a decline. Midcap and smallcap stocks were under pressure. After the day's work, Nifty Bank closed down by about 1%. On the sectoral front, IT and realty indices slipped the most. FMCG, PSE and pharma indices closed down. The impact of the implementation of US tariffs, continuous selling by foreign institutional investors and pressure in Asian markets was seen in the domestic stock market.
On Tuesday, instead of 1 stock rising, 2 stocks fell. Nifty closed near 24,500. The market saw a recovery at one point during the session, but it did not last and 36 out of 50 Nifty closed with a fall.
Financial and IT stocks put the most pressure on the market. Sectoral indices closed with a fall of 1-2%. Auto and FMCG stocks were bought today as well in anticipation of a cut in GST rates. A big fall was seen in stocks exiting F&O. These stocks are AB Fashion, Adani Total, CESC and IRB Infra. At what level did the market close? After a full day's work on Thursday, the Sensex closed at 80,081, down 706 points. Nifty closed at 24,501, down 211 points. Nifty Bank closed at 53,820, down 630 points. Nifty Midcap Index closed down 719 points at 56,048. Which stocks saw action? InterGlobe Aviation closed down nearly 5% after promoter Rakesh Gangwal sold 2.2% stake through a block deal. Reliance Industries closed with a gain of 2% ahead of AGM. Capital market stocks came under pressure amid market decline. MCX and 360 One WAM closed down nearly 4-5%. Buying continues in Ola Electric. This stock has shown a gain of 16% in the last 3 sessions.
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