stock market today:Indian Equity Benchmark Index, BSE Sensex The NSE Nifty 50 index and the S&P BSE Sensex fell during trading on Tuesday. Both fell by 0.85% and 0.87% respectively. The main reason for the decline was HDFC Bank, which is the most weighted stock in the Nifty 50, which fell by 3.4%. While the BSE Sensex closed at 78,956.03 with a decline of 693 points. nifty50 The day's trading closed down 208 points at 24,139.00.
Global index provider MSCI has increased the proportion of HDFC Bank shares available for purchase by foreign investors. However, the changes will be implemented in two phases, in August and November, contrary to market expectations of a single adjustment in August. As a result, brokerage firm Nuvama revised its investment forecast in HDFC Bank for August to $1.8 billion from $3.2 billion-$4 billion.
The financial and banking sectors were also negatively impacted by a fall in HDFC Bank shares, which declined 1.9% and 1.5%, respectively.
Additionally, investors turned increasingly cautious due to geopolitical risks in the Middle East and concerns over the US economy, resulting in sharp profit-booking across sectors.
According to Reuters, Siddharth Sedani, equity analyst at Anand Rathi Financial Services, warned that “depending on the quality of US macro data, volatility and selling pressure could increase over the next few sessions.”
Investors are closely watching US producer price data, which will be released after Indian markets close, and also consumer price data, which will be released on Wednesday, to gauge the timing and magnitude of possible interest rate cuts and to assess the overall health of the US economy.
Twelve of the thirteen major sectors of the Indian stock market witnessed a decline during the day. However, consumer firm Marico rose 2.1% after it resumed its manufacturing operations in Bangladesh, while Dixon Tech and Oil India rose by about 2.6% and 3% respectively after being included in the MSCI emerging markets index.
Global index provider MSCI has increased the proportion of HDFC Bank shares available for purchase by foreign investors. However, the changes will be implemented in two phases, in August and November, contrary to market expectations of a single adjustment in August. As a result, brokerage firm Nuvama revised its investment forecast in HDFC Bank for August to $1.8 billion from $3.2 billion-$4 billion.
The financial and banking sectors were also negatively impacted by a fall in HDFC Bank shares, which declined 1.9% and 1.5%, respectively.
Additionally, investors turned increasingly cautious due to geopolitical risks in the Middle East and concerns over the US economy, resulting in sharp profit-booking across sectors.
According to Reuters, Siddharth Sedani, equity analyst at Anand Rathi Financial Services, warned that “depending on the quality of US macro data, volatility and selling pressure could increase over the next few sessions.”
Investors are closely watching US producer price data, which will be released after Indian markets close, and also consumer price data, which will be released on Wednesday, to gauge the timing and magnitude of possible interest rate cuts and to assess the overall health of the US economy.
Twelve of the thirteen major sectors of the Indian stock market witnessed a decline during the day. However, consumer firm Marico rose 2.1% after it resumed its manufacturing operations in Bangladesh, while Dixon Tech and Oil India rose by about 2.6% and 3% respectively after being included in the MSCI emerging markets index.