Sensex, Nifty decline after hitting fresh record high levels in opening trade
The Hindu
Sensex and Nifty updates on July 19, 2024
Equity benchmark indices hit their new record high levels in early trade on Friday, July 19, 2024, but failed to hold on to the gains and were later trading lower tracking weak trends from global markets.
The 30-share BSE Sensex hit its new all-time high of 81,587.76 in the initial trade but failed to carry forward the winning momentum and declined 166.93 points to 81,176.53.
The NSE Nifty also dropped 73.1 points to 24,727.75 after hitting its fresh record peak of 24,854.80 during the opening bell.
Among the Sensex pack, Tech Mahindra, UltraTech Cement, Tata Steel, JSW Steel, Sun Pharma and Power Grid were the biggest laggards.
Infosys climbed nearly 3 per cent after the IT major reported a 7 per cent rise in consolidated net profit at Rs 6,368 crore in the April-June quarter and raised its growth outlook for the current financial year, signalling an improvement in the IT segment.
Asian Paints, ITC, Nestle and Adani Ports were the other gainers.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were quoting lower.
India imposes anti-dumping duties on Chinese steel and refrigerant gas to protect domestic industries from unfair pricing.
Sensex declines for the third day, losing 367 points due to foreign fund outflows and thin trading conditions.
Let’s take a look at some of the biggest crypto events of the year.
Silver futures soar to ₹2.32 lakh/kg as global prices exceed $75, marking a record high in commodities trading.
Stock markets decline as Sensex and Nifty fall amid foreign fund outflows and low trading volumes on December 26, 2025.
Rupee drops 23 paise to 89.94 against the dollar amid negative equity trends and rising crude prices.
The commencement of commercial flight from the Navi Mumbai International Airport (NMIA) is expected to speed up infrastructure and real estate development across Navi Mumbai and surrounding regions, analysts & industry executives said.
GCCs keep India’s tech job market alive, even as IT services industry embarks on a hiring moratorium
Global Capability Centres, offshore subsidiaries set up by multinational corporations, mostly known by an acronym GCCs, are now the primary engine sustaining India’s tech job market, contrasting sharply with the hiring slowdown witnessed by large firms in the country.
India’s manufacturing sector underperforms compared to China and South Korea, partly due to public sector wages that raise costs and reduce competitiveness.
Non-Resident Indians (NRIs) from the Gulf Cooperation Council (GCC) region, once prominent investors in the Indian equity market are seen shying away due to rupee depreciation and have moved to global funds, said a top financial services executive.
Mobile phones are increasingly migrating to smaller chips that are more energy efficient and powerful supported by specialised Neural Processing Units (NPUs) to accelerate AI workloads directly on devices, said Anku Jain, India Managing Director for MediaTek, a Taiwanese fabless semiconductor firm that claims a 47% market share India’s smartphone chipset market.
In one more instance of a wholly owned subsidiary of a Chinese multinational company in India getting ‘Indianised’, Bharti Enterprises, a diversified business conglomerate with interests in telecom, real estate, financial services and food processing among others, and the local arm of private equity major Warburg Pincus have announced to collectively own a 49% stake in Haier India, a subsidiary of the Haier Group which is headquartered in Qingdao, Shandong, China.
Indian stock markets closed lower amid volatility, with key firms lagging as global trends influenced trading activity.