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LTIMindtree shares fall 3.15% as Nifty drops

Updated at : 2024-08-05 16:20:01

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The stock quoted a 52-week high price of Rs 6442.65 and a 52-week low of Rs 4518.35.

Shares were down 8% Friday in Tokyo. Over two days, the technology conglomerate is down roughly 14%. Even after the recent plunge, Son is up about $2.7 billion from the $11.3 billion he began the year with, according to the Bloomberg Billionaires Index.

The aforementioned showcases that the expansion of the P/E multiple of BSE Smallcap 250 in the last year is mostly due to the increase in price.

All 16 sectoral indices were significantly down, with Nifty Realty and Nifty Metal showing the poorest performance, both falling by over 4%. The market capitalization of all listed companies on the BSE dropped by Rs 17 lakh crore to Rs 440.16 lakh crore. The fear gauge India VIX surged by 59%, marking its largest spike since 2015.

Shares of PNB fall as Nifty drops

Updated at : 2024-08-05 15:20:01

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On the technical charts, the 200-day moving average of the stock stood at Rs 110.99.

Bharat Forge shares drop 5.16% as Sensex falls

Updated at : 2024-08-05 15:20:01

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A total of 54,001 shares changed hands on the counter till 02:10PM (IST)

Stock market shifted from greed to fear due to concerns over the Yen carry trade unwind and a potential US recession. This has pushed the Sensex and Nifty below Budget-day lows, testing the buy-the-dip strategy. However, experts fear this could be the start of a deeper decline, potentially up to 10%.

​So, certainly there is going to be a reality check. There is a lot more important US data coming out, particularly today, the ISM services number and then, yes, going on in the week as well which will give us a reality check on really how bad is the US economy faring and whether we should really be expecting the Federal Reserve to cut rates by 50 basis points in just one meeting in September or over 100 basis points through to the end of the year.

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