Sensex & Nifty end marginally lower on profit booking

Hello everyone, I am Neha Vashishth. Welcome to ET Market Watch! Let's start with today's highlights

-It was a seesaw kind of situation for the markets, Sensex and Nifty closed marginally lower in a highly volatile market today
-The indices were dragged by index heavyweight Reliance, Power Grid and banking stocks.
-Sensex declined 68 pts to settle at 66,459
-Nifty dropped 20 pts to end at 19,733

Gainers and losers of the day
The biggest loser was Power Grid- the share fell over 5% after the firm reported a decline in consolidated net profit in Q1.
Other losers were - Bajaj Finserv, IndusInd Bank, SBI, Maruti, Reliance, and Asian Paints also ended in the red. NTPC, Tech Mahindra, HCL Tech, M&M, Axis Bank, and TCS closed higher.

Stocks in the news today
-Coal India ended 5% higher after it posted 13.4% growth in coal production at 53.6 MTs in July 2023

-Shares of Hero MotoCorp closed over 3% lower after ED conducted raids against the company's Executive Chairman Pawan Munjal and some others as part of a money laundering probe.

Sector-wise, Nifty PSU Bank, Nifty Realty fell. Whereas, Nifty IT and Nifty Metal closed higher. In the broader market, Nifty Midcap100 ended flat, while Smallcap100 gained 0.68%.

Global Markets
Asian stocks were close to a sixteen-month peak. Japan's Nikkei 225 rose 0.8%, while China's Shanghai Composite ended flat. Meanwhile, South Korea's Kospi surged 1.3% higher.

Crude oil and Rupee
Oil prices edged lower on signs of profit-taking after rallying in July.
Brent crude futures for October were at $84.09 a barrel, down 44 cents. US WTI crude futures were at $81.29 a barrel, down 51 cents
The Indian rupee weakened 0.01% versus the US dollar and quoted at 82.26 per dollar