Indian stock SENSEX falls slightly on a weekly basis

After Wall Street ended in the red on Thursday due to concerns about deterioration in economic forecasts due to disappointing US data, India's stock prices headed for a decline of about 0.2% on a weekly basis, and became negative for the first time in 9 weeks.

Nifty falls by $24,800 and Sensex by 650 pt

While stock prices of Tata Motors and Icher Motors plummeted, traders made profit margin sales after Sensex hit an all-time high for 5 consecutive days.

Despite a sharp increase in net profit for the first quarter, Tata Motors fell 3.8%, and Eicher Motors announced an 8% decrease in car sales in July, which plummeted 3.6%.

Factory activity in the United States fell short of expectations, and since the number of passenger car wholesales in India declined by 1.1% from January to July 2024, almost all sectors, mainly metals and automobiles, were traded in the red.

Small and medium cap stocks also weighed on the index, falling more than 1% each.

Additionally, JSW Steel (-2.9%), Maruti Suzuki (-2.7%), and Tata Steel (-2.5%) declined in the early stages.