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Sensex drops 150 points, Nifty slips below 15,800; ICICI Bank, UltraTech Cement top heave: Stock Market Update

By Ruchi Upadhyay 
Updated Date
Sensex drops 150 points, Nifty slips below 15,800; ICICI Bank, UltraTech Cement top heave: Stock Market Update

Mumbai: 30 shares of BSE index was trading at 9 ‘o’ clock of 147 points and the broader NSE Nifty was down 49 points or 0.31 per cent.

Also Read :- Sensex hikes 260 pts to record highs; Nifty hovers around 17,400

Equity benchmark Sensex tumbled over 100 points in early trade on July 23, tracking losses in index majors HDFC Bank, ICICI Bank and L&T amid sustained foreign fund outflow.

ICICI Bank and UltraTech Cement were the top losers in the Sensex pack, falling over 1 per cent, followed by Asian Paints, Bharti Airtel, SBI and M&M.

But, Infosys and IndusInd Bank were the gainers on stok exchange market.

Benchmark indices closed higher on Friday amid positive global cues. Sensex rose 139 points to 52,975 and Nifty rose 32 points to 15,856.

Also Read :- Sensex crossed 54,000 and Nifty crosses 16,200 for the first time

As per provisional data available on NSE, Foreign institutional investors (FIIs) emerged as net sellers by selling shares worth Rs 163.31 crore on July 23.
L&T fell nearly 1% in the Sensex pack, followed by Sun Pharma, Bajaj Finance, HDFC Bank and Kotak Bank.
But, HCL Tech, UltraTech Cement, Tata Steel, Titan and Maruti were among the gainers

For Nifty, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “Short-term uptrend of Nifty continues. Further consolidation or slight decline from higher levels is likely early next week”. “However, we continue to believe that the underlying strength of the domestic market remains intact,” he said.

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