INSUBCONTINENT EXCLUSIVE:
The S-P BSE Sensex and NSE Nifty 50 Indexes posted their worst monthly performance in July in 10 months
Imposition of higher tax on the super rich, slowing economy and consumption and an ongoing credit crisis among non-bank finance lenders have
spooked the investor sentiment, say analysts
In July the S-P BSE Sensex dropped 4.86 per cent and the Nifty 50 Index plunged 5.69 per cent making it the worst month for Sensex since
October 2018 and worst for Nifty since September 2018 when defaults at IL-FS surfaced.Hurt by the higher tax incidence on the super rich,
foreign investors sold shares in Indian markets and till yesterday they had sold shares worth Rs 12,718.20 crore in July, data compiled by
NSDL showed.In today's session, the benchmarks rebounded from a two-day losing streak led by gains in IndusInd Bank, TCS, Kotak Mahindra
Bank and State Bank of India
However, the upside was capped as Axis Bank, Reliance Industries, Bharti Airtel and the HDFC twins witnessed selling pressure.The Sensex
ended 0.22 per cent or 84 points higher at 37,481.12 and the Nifty advanced 0.29 per cent or 33 points to 11,118.Eight of 11 sector gauges
compiled by National Stock Exchange ended higher led by the Nifty Metal Index's 2.4 per cent decline
Nifty PSU Bank, Pharma and Auto sector gauges also ended over 1 per cent higher.Mid- and small-cap shares witnessed buying interest as the
Nifty Midcap 100 Index rose 1.4 per cent and Nifty Smallcap 100 Index advanced 0.41 per cent.IndusInd Bank was top gainer in the Nifty 50
basket of shares, the stock rose 5.29 per cent to Rs 1,408
Tata Steel, Yes Bank, Indian Oil, Hero MotoCorp, Sun Pharma, UPL and JSW Steel were also among the gainers.On the flipside, Zee
Entertainment, Axis Bank, Bharti Airtel, Bharti Infratel, Reliance Industries, Tech Mahindra and NTPC were among losers.The overall market
breadth was neutral as 920 shares closed lower while 866 ended higher on the NSE.Get Breaking news, live coverage, and Latest News from
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