Sensex Falls 505 pts, Nifty Gives up 19,350 amid global weakness; ZEEL Jumps 9% – News18

Sensex Today: Amid weak global cues, the Indian equity benchmarks remained under pressure on July 7 with the Sensex falling 505.19 points or 0.77 per cent to end at 65,280.45 and the Nifty finishing at 19,331.80, down 165.50 points or 0.85 per cent.

In the initial hours of the trade, the market tested fresh record highs after reversing the opening losses but selling across sectors pulled it down.

PowerGrid, IndusInd Bank, HUL, NTPC, Bajaj Finance, HCL tech, Tech M, L&T, Asian Paints, ICICI Bank, ITC, Kotak Bank, Infosys, and HDFC twins were the top laggards in the large-cap space, dropping between 1 per cent and 3 per cent.

In the broader markets, the BSE MidCap index fell in-line with the frontline indices as it ended 0.76 per cent down. The BSE SmallCap index, meanwhile, slipped only 0.28 per cent.

Among sectors, the Nifty FMCG, Private Bank, and Realty indices declined over a per cent each. On the upside, the Nifty Media index zoomed 4 per cent, followed by the Nifty PSU Bank index (up 1 per cent).

Global Cues

US stocks sold off Thursday after private sector jobs rose by 497,000 for June, more than double the 220,000 Dow Jones consensus estimate, raising bets for a tighter monetary policy by the Fed. The S&P 500 fell 0.79 per cent, the Dow and Nasdaq shed 1.07 per cent and 0.82 per cent, respectively.

Asian equities also extended losses to a second day. Nikkei, Hang Seng, Strait times, Kospi and S&P/ASX 200 falling 0.5-1.6 per cent.