On August 13, 2024, the Indian stock markets experienced a volatile trading session, with both the Sensex and Nifty closing sharply lower. The Sensex tumbled by 692.89 points, or 0.87%, to settle at 79,648.92, while the Nifty 50 lost 208.0 points, or 0.85%, finishing at 24,347.0.
Investors were on edge as global economic concerns and profit-booking activities dominated the day. Notably, the HDFC Bank share took a significant hit, leading the decline among major stocks and contributing heavily to the overall market downturn.
Market Recap:
- Sensex and Nifty:
- Sensex dropped by 692.89 points (-0.87%), closing at 79,648.92.
- Nifty 50 fell by 208.0 points (-0.85%) to settle at 24,347.0.
- Trading Range:
- Nifty 50 touched a high of 24,359.95 and a low of 24,116.5.
- Sensex traded between 79,692.55 and 78,889.38.
- Market Sentiment:
- The decline was driven by profit-booking and global economic concerns.
HDFC Bank Share:
- Performance:
- HDFC Bank share declined by 3.43%.
- Impact:
- The stock’s fall significantly contributed to the overall market decline.
- Market Sentiment:
- Investor concerns over macroeconomic conditions led to heavy selling pressure on HDFC Bank shares.
Top Gainers and Losers – Sensex:
- Top Gainers:
- Titan Company: Up by 1.78%.
- HCL Technologies: Up by 0.57%.
- Nestlé India: Up by 0.51%.
- Wipro: Up by 0.30%.
- Sun Pharmaceutical Industries: Up by 0.26%.
- Top Losers:
- HDFC Bank: Down by 3.46%.
- Bajaj Finance: Down by 2.15%.
- Tata Motors: Down by 2.10%.
- Tata Steel: Down by 2.07%.
- State Bank of India: Down by 1.93%.
Top Gainers and Losers – Nifty:
- Top Gainers:
- Titan Company: Up by 1.89%.
- Apollo Hospitals Enterprise: Up by 1.34%.
- Dr. Reddy’s Laboratories: Up by 0.78%.
- Tata Consumer: Up by 0.68%.
- HCL Technologies: Up by 0.47%.
- Top Losers:
- Bharat Petroleum Corporation: Down by 3.51%.
- HDFC Bank: Down by 3.43%.
- Shriram Finance: Down by 2.85%.
- HDFC Life Insurance Company: Down by 2.48%.
- Bajaj Finance: Down by 2.17%.
MidCap and SmallCap Indices:
- Nifty Midcap 50:
- Closed down by 0.87%.
- Nifty Smallcap 100:
- Ended 1.3% lower at 18,444.3.
- Top Gainers in Midcap:
- Aurobindo Pharma, Dixon Technologies (India), Tube Investments of India.
Bank Nifty:
- Performance:
- Bank Nifty closed at 50,577.95.
- Intraday Range:
- High of 50,559.25 and low of 49,785.1.
- Recent Trends:
- Bank Nifty declined by 5.06% over the last month.
- Gained 4.29% over the last three months and 9.45% over the last six months.
Conclusion:
- Market Sentiment:
- August 13, 2024, marked a challenging day for Indian markets.
- HDFC Bank Share:
- The significant decline in HDFC Bank share was a key driver of the market’s downturn.
- Outlook:
- Market direction in the coming days will depend on how stocks like HDFC Bank navigate ongoing economic challenges.
As the markets closed on a challenging note on August 13, 2024, the sharp decline in HDFC Bank share stood out as a major event of the day. Despite the negative sentiment, certain stocks like Titan Company and Apollo Hospitals Enterprise managed to defy the trend and emerge as top gainers.
The coming days will be crucial for the Indian stock markets as investors await further developments on the global economic front, with a keen eye on how heavyweight stocks like HDFC Bank perform amid the ongoing uncertainty.