The stock market experienced a downturn on the last trading day of the week, with both major indices slipping into the red. On July 5, 2024, the market opened on a negative note, continuing the trend from the previous session where the indices closed within a limited range.

In early trading, the BSE Sensex fell by 386.58 points, or 0.48%, landing at 79,663.09 points. Similarly, the NSE Nifty saw a decline of 84.85 points, or 0.35%, settling at 24,217.30 points. The market’s downward trajectory reflects investor caution amid fluctuating market conditions.

Market Movers: The Gainers and Losers

Stocks in Decline:

Several prominent Sensex companies saw their shares fall. HDFC Bank, Mahindra & Mahindra, Titan, Tata Steel, ICICI Bank, IndusInd Bank, Power Grid, and Kotak Mahindra Bank were among the stocks trading in the red. The performance of these shares significantly contributed to the overall market decline.

Stocks on the Rise:

On the flip side, some stocks managed to defy the downward trend. Sun Pharmaceuticals, JSW Steel, Larsen & Toubro, Hindustan Unilever, Reliance Industries, Infosys, and Tech Mahindra registered gains, providing a silver lining in an otherwise bearish market.

Currency Market Update

In contrast to the stock market’s decline, the Indian rupee showed a slight improvement. The rupee opened 5 paise higher at 83.48 in the interbank foreign exchange market and later rose to 83.45 against the US dollar. This marks a 5 paise increase from its previous close. On Thursday, the rupee had closed nearly flat at 83.50 against the greenback, having pared its early losses.

The stock market’s performance on the last day of the week underscores the volatility that investors are navigating. With key stocks moving in different directions and the rupee showing slight gains, market participants are advised to stay informed and consider both global and domestic economic indicators when making investment decisions. As always, staying updated with the latest market trends and news can help in making informed investment choices.