Nifty, Sensex extend losing streak to 3rd day on global cues

The domestic equity benchmark indices Nifty and Sensex continued their downward trajectory for the third consecutive session on Tuesday, as weak global signals and recession fears unsettled investors.At close, the Sensex was down 166.33 points or 0.21 percent at 78,593.07, and the Nifty was down 63.05 points or 0.26 percent at 23,992.55.
Highlights of Trade:
●Unicommerce eSolutions IPO sails through within 3 hrs of bidding,
●FirstCry's Rs 4,100 cr-IPO opens for subscription,
●Bharti Airtel up 2% after Q1 PAT soars 158% YoY,
●Akums Drugs shares list at 7% premium,
●ONGC rises 4% on upbeat Q1 numbers,
●Rupee weakens to hit record low,
●India VIX eases 15%
●Sensex surges 1,000 pts, Nifty above 24,300 at open.
Britannia Industries, JSW Steel, HUL, L&T and Tech Mahindra were the top gainers on the Nifty,while losers included HDFC Life, SBI Life Insurance, Shriram Finance, BPCL and SBI.
On the sectoral front, auto, bank and oil & gas were down 0.5 percent each, while IT, metal, realty up 0.3-0.8 percent.The BSE midcap and smallcap indices ended shed 0.5 percent each.
Rupee Close:
On 06 Aug'24,the Indian rupee recovered from its all-time low level and settled for the day 16 paise higher at 83.93 against the US dollar on Tuesday, on suspected intervention by the Reserve Bank.
Forex traders reportedly stated mixed to weak global equities on rising concerns over recession fears in the US and the geopolitical tensions in the Middle East dented investor sentiments.
Trading Guide:
Market experts have recommended these four shares to buy for today - Hindustan Unilever, Tata Consumer Products, Huhtamaki India, and Dr. Lal PathLabs.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)