Investors got a shock in the Indian stock market on the first trading day of the week. On August 17, both Sensex and Nifty opened with a decline. Amidst the weak start, pressure was seen in many sectors including IT, banking, realty and auto. However, buying continued in some selected stocks.
At the beginning of trading, the Sensex fell 288.96 points to 77,720.29. At the same time, Nifty was seen trading at 24,297.25 with a fall of 68.75 points. In early trade, about 1,477 shares advanced, 1,337 shares declined and 241 shares remained unchanged. This showed a mixed trend in the market, but major indices remained in the red.
These shares including JSW Steel and SBI slipped
Among the major Nifty stocks, JSW Steel was seen trading down by about 1.25%. There itself SBI There was a decline of about 1.05% in Jio Financial, 1.06% in Jio Financial and 1.28% in Dr. Reddy’s Labs. TCS was also down by about 1.02%. Apart from this, pressure was also seen on many big stocks like Hindustan Unilever, UltraTech Cement, Infosys, HCL Tech and Tata Steel.
Eicher Motors and Hindalco took charge
There was no selling everywhere in the market. Eicher Motors was among the top gainers of Nifty, rising about 1.08%. Hindalco saw a rise of about 1.02% and Eternal saw a rise of about 0.82%. Bharat Electronics and Kotak Mahindra Bank were also among the gainers in early trade. Apollo Hospitals, M&M and Adani Enterprises were also among the major gainers.
Nifty’s top gainers and losers
| Top 5 gainer stocks | Top 5 loser stocks |
| Eicher Motors (+1.08%) | Dr. Reddy’s Lab (-1.28%) |
| Hindalco (+1.02%) | JSW Steel (-1.25%) |
| Eternal (+0.82%) | Jio Financial (-1.06%) |
| Bharat Electronics (+0.44%) | SBI (-1.05%) |
| Kotak Mahindra (+0.42%) | TCS (-1.02%) |
More pressure on IT and PSU Bank
Talking about sectoral index, IT index was down by about 0.71% in early trade. A decline of 1.03% was recorded in PSU Bank, 0.35% in Bank and 0.50% in Realty index. The FMCG index was also down by about 0.57%. Whereas Nifty Pharma remained with a slight gain of about 0.12%. Midcap 150 also witnessed slight weakness, while Smallcap 100 was trading slightly above near steady.
