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August 10, 2024 7:58 PM

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Sensex and Nifty Decline as Smallcap, Midcap, and Largecap Indices Shed Up to 2%

The broader indices broke a two-week streak of outperformance and ended lower, in line with the main indices, during a highly volatile week marked by mixed quarterly earnings, an inline RBI policy outcome, fears of a US recession, and geopolitical escalations. During the week, the BSE Smallcap index, BSE Largecap index, and BSE Midcap index shed 2 percent, 1.5 percent, and 1 percent, respectively. This week, the BSE Sensex declined by 1,276 points or 1.5 percent, while the Nifty50 index shed 350 points or 1.4 percent. On the sectoral front, the Nifty Metal and PSU Bank indices were down nearly 3 percent, the Nifty Energy index shed 2.5 percent, and the Nifty Bank and IT indices were down 1.5 percent each. On the other hand, the Nifty Pharma index added 1.5 percent, and the Nifty Healthcare and FMCG indices rose 0.5 percent each.