Sensex Today | Stock Market LIVE Updates: The Indian markets cannot seem to find a way out of the slump; the Nifty has now fallen below the 24,800 mark. Post result stocks like SBI Cards, Kotak Bank are trading with cuts.
Sensex Today | Stock Market LIVE Updates: After four straight weekly losses, the indices don’t seem to be on a better path, as the Nifty index is trading below the 24,800 mark. The Sensex has also fallen by over 200 points.
The TCS layoff announcement will again keep IT in the spotlight; the company’s shares have declined by 1.5%.
This 50-point fall today comes after the Nifty closed below its 50-DMA last week, and that brings the June 24 swing low of 24,824 into play.
The US will see the FOMC rate decision, its GDP data, non-farm payrolls for July, and megacap tech results this week, while India too will continue with its earnings season and report auto sales for July.
While the Nifty Bank has been resilient, the broader markets have been major underperformers. IndusInd Bank, Mazagon Dock, and BEL are some major results today, while stocks like CDSL, Zen Technologies, Bank of Baroda, and Kotak Mahindra Bank react to results.
Watch this space for all the live updates.