Winning Bizness Desk

Mumbai. On the last trading day of the week, August 2, the stock market experienced a significant decline. The Sensex fell by over 650 points, currently trading at 81,200. Similarly, the Nifty dropped more than 200 points, trading at 24,800. Out of the 30 stocks in the Sensex, 27 declined, while only 3 advanced. In the Nifty, 43 out of 50 stocks saw a drop, with just 7 rising. Except for the pharma and healthcare sectors, all NSE sectors witnessed a decline.

Zomato Shares Surge

Shares of food delivery company Zomato surged by over 17% today. This increase follows Zomato's impressive performance in the April-June quarter, where its profit jumped 126.5 times year-on-year to ₹253 crore. The company's consolidated net profit for the same quarter last year was ₹2 crore. Zomato released its Q1 FY 2024-25 results on August 1, driving today's positive stock movement.

Ola Electric Mobility IPO Opens

Ola Electric Mobility's Initial Public Offering (IPO) opened today and will be available for bidding until August 6. The company's shares are set to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on August 9, making it the first listed electric two-wheeler company. Additionally, today marks the second day of subscription for Seagull India Limited's IPO, which remains open for bids until August 5. The company's shares will be listed on August 8. Foreign Institutional Investors (FIIs) purchased shares worth ₹2,089.28 crore on August 1, while Domestic Institutional Investors (DII) sold shares worth ₹337.03 crore during the same period.

Decline in Asian Markets

Asian markets also faced declines today. Japan's Nikkei dropped by 4.89%, Hong Kong's Hang Seng fell by 1.92%, and China's Shanghai Composite decreased by 0.47%. On August 1, the US market's Dow Jones closed down 1.21% at 40,347. The NASDAQ declined by 2.30% to close at 17,194, and the S&P 500 fell by 1.37%.

Yesterday's Market Performance

On August 1, the stock market reached new all-time highs during trading, with the Sensex touching 82,129 and the Nifty reaching 25,078. However, the market later declined slightly, with the Sensex closing at 81,867, up by 126 points, and the Nifty closing at 25,010, up by 59 points. Among the 30 Sensex stocks, 15 advanced and 15 declined.