FIRST TRADE: Indices slip; Sensex down over 550 pts, Nifty near 24,250; SBI Life up over 2%, L&T up over 1%, Axis Bank down over 4%
Stock market today: At the last count, Sensex was down 473.45 points or 0.59 per cent at 79,675.43 and Nifty slipped 153.05 points or 0.63 per cent at 24,260.45.
![FIRST TRADE: Indices slip; Sensex down over 550 pts, Nifty near 24,250; SBI Life up over 2%, L&T up over 1%, Axis Bank down over 4%](https://cdn.zeebiz.com/sites/default/files/2024/07/25/306660-idfc-first-bank-2.jpg?im=FitAndFill=(1200,900))
Stock market today: Indian shares of Thursday, July 25, began session in the negative territory amid soured investor sentiment after the government's tax hikes on equity investment gains and derivating trading. At the last count, Sensex was down 473.45 points or 0.59 per cent at 79,675.43 and Nifty slipped 153.05 points or 0.63 per cent at 24,260.45.
"Global cues have turned distinctly negative with a sharp 3.64 per cent cut in Nasdaq, which is the worst cut in 2024. The tech stocks that have been driving the rally in the US are facing the brunt of selling due to worse-than-expected results and news. In India, too, sentiments have turned a bit negative regarding the budget proposals to raise the capital gains tax. More importantly, there are signs of deceleration in corporate earnings after the impressive 24 per cent growth in Nifty earnings in FY24," said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Dr. V K Vijayakumar added the excessive valuations in certain segments in the broader market are unlikely to sustain despite the irrational exuberance of retail investors.
Further, as per him, the disconnect between earnings and market prices in the broader market has been driven by the sustained fund flows into these segments and irrationally enthusiastic retail buying.
In the broader market, Nifty Midcap 100 and Smallcap 100 traded in red. Last see, high-beta Nifty Bank was down 1.09 per cent at 50,757.6.
BUZZING STOCKS
L&T shares were up over 1 per cent after the company reported better-than-estimate Q1 results.
SBI Life shares were up over 2 per cent despite company posting in-line Q1 numbers.
IEX shares were up over 1 per cent after the company posted in-line Q1 results.
Conversely, Axis Bank shares were down over 5 per cent after the company reported weak Q1 results.
IGL shares were down over 2 per cent despite the company reporting better-than-estimated Q1 numbers.
JSPL shares were down over 3 per cent after the company reported in-line Q1 numbers
RBL Bank shares were down over 2 per cent after reports indicate a block deal is likely.
Catch all the stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.
DISCLAIMER: The views and investment tips expressed by investment experts on zeebiz.com are their own and not those of the website or its management. zeebiz.com advises users to check with certified experts before taking any investment decisions.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/personal-finance/photo-gallery-sip-swp-monthly-pension-income-retirement-corpus-planning-calculator-inr-rs-20000-monthly-investment-for-15-years-inr-99000-monthly-return-for-42-years-313283](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316973-rupee-pixabay-take-1.jpg?itok=02-hJh59)
SIP+SWP: Rs 20,000 monthly SIP for 16 years to get Rs 99,000 monthly income for 42 years; how is it possible?
![https://www.zeebiz.com/market-news/news-bajaj-finserv-rvnl-borosil-renewables-carysil-railtel-corporation-stocks-to-buy-hdfc-securities-recommendation-picks-target-stop-loss-bse-nse-313386](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/317091-26.jpg?itok=gE1cWt7z)
RVNL, Bajaj Finserv and 5 more: Brokerage recommends buying these 7 stocks for up to 3 months | Check target, stop loss
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-vs-ups-vs-ops-monthly-pension-income-retirement-corpus-calculator-what-will-be-your-pension-on-inr-rs-10000-contribution-for-35-years-expert-calculations-313361](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/317060-rupee-pixabay-take-2.jpg?itok=cOVdof_v)
NPS vs UPS vs OPS: What will be your monthly pension if you contribute Rs 10,000 monthly for 35 years? Get expert calculations
![https://www.zeebiz.com/personal-finance/photo-gallery-top-7-etf-sip-mutual-funds-in-5-years-calculator-how-inr-rs-21000-monthly-investment-has-grown-in-nifty-sp-bse-next-50-cpse-uti-icici-pru-nippon-india-motilal-oswal-bharat-22-nift-mid-infra-313306](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316994-indian-currency-pixabay-take-1.jpg?itok=JURVEkst)
Top 7 ETF Mutual Funds With Highest SIP Returns in 5 Years: How Rs 21,000 monthly SIP has grown in each ETF over the years
![https://www.zeebiz.com/personal-finance/photo-gallery-sbi-senior-citizen-fd-fixed-deposit-latest-interest-rate-2024-calculator-what-be-maturity-amount-with-return-on-investments-of-inr-900000-lakh-in-1-3-5-year-guaranteed-return-scheme-retirement-planning-313221](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316909-note-coin-pixabay-take-1.jpg?itok=3RPKcBYE)
SBI Senior Citizen FD Rates 2024: What you can get if you invest Rs 3 lakh, Rs 5 lakh, Rs 7 lakh, and Rs 9 lakh in 1-, 3-, and 5-year FDs
09:33 AM IST