Market Wrap: Nifty and Sensex Tumble 0.85% Amid Sector Divergence
Indian stock markets ended negative on Friday, with Nifty 50 closing at 24,870.10 and Sensex at 81,306.85, both down 0.85%. Aerospace & Defense and Trading sectors outperformed, while Diamond, Gems and Jewellery sector faced the most pressure. Vedanta approved a second interim dividend, Vodafone Idea saw potential AGR dues reduction, and Nazara Technologies ceased real money online gaming operations. Market breadth was negative with 2,461 declines against 1,973 advances out of 4,434 traded scrips.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets closed in negative territory on Friday, with both benchmark indices shedding 0.85% each. The Nifty 50 ended the session at 24,870.10, down 213.65 points from its previous close. Similarly, the BSE Sensex finished at 81,306.85, declining by 693.86 points.
Sectoral Performance
The market witnessed a mixed bag of sector performances, with some notable gainers and losers:
Top Performing Sectors
- Aerospace & Defense (+2.17%)
- Trading (+1.52%)
- Transport Services (+0.62%)
- Printing & Stationery (+0.60%)
Top Losing Sectors
- Diamond, Gems and Jewellery (-2.28%)
- Castings, Forgings & Fasteners (-1.88%)
- Banks (-0.80%)
- Energy (-0.77%)
Buzzing Stocks
Vedanta Limited
Vedanta's board approved a second interim dividend of ₹16.00 per equity share for FY 2025-26, totaling approximately ₹6,256.00 crore. The record date is set for August 27. This follows a ₹7.00 per share first interim dividend paid in June. Vedanta shares closed at ₹447.10 on NSE, up 0.36%.
Vodafone Idea
Reports suggest that the central government may substantially reduce Adjusted Gross Revenue (AGR) dues for major telecom operators. A Department of Telecom proposal under review by the Prime Minister's Office could potentially cut Vodafone Idea's AGR dues to ₹28,000.00 crore from ₹83,400.00 crore.
Nazara Technologies
Nazara Technologies announced that its associate company Moonshine Technologies (Pokerbaazi) has ceased real money online gaming operations following the passage of the Promotion and Regulation of Online Gaming Bill. Nazara Tech shares fell 3.75% to ₹1,160.00, declining 16.5% over five trading sessions.
Market Breadth
The overall market breadth leaned negative:
| Category | Number of Scrips |
|---|---|
| Total Traded | 4,434 |
| Advances | 1,973 |
| Declines | 2,461 |
Conclusion
The Indian stock market ended the week on a bearish note, with key indices dropping 0.85%. While sectors like Aerospace & Defense and Trading showed strength, others such as Diamond, Gems and Jewellery, and Castings, Forgings & Fasteners faced significant pressure. Corporate actions and regulatory developments continued to influence individual stock movements in a mixed market session.
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