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Indian stock markets witnessed a bearish movement on Friday, August 2, with the benchmark indices closing negative. The BSE Sensex plummeted 885.60 points or 1.08% to close at 80,981.95 while the Nifty 50 index dropped 293.20 points or 1.17% to end at 24,717.70. The Nifty Bank index also declined falling 213.85 points or 0.41% to 51,350.15
Despite the overall bearish sentiment the market remains technically bullish with both Sensex and Nifty maintaining its bullish market structure. The bullish outlook is expected to continue unless the Nifty 50 closes below 24,074 and the Sensex below 79,223. In Q1 FY24-25, 1,034 out of 4,418 companies have reported results showing a 10.81% year-on-year revenue growth and a 5.01% increase in net profit.
Amidst the market decline, only 8 Nifty-50 stocks managed to stay in positive territory. Let's take a closer look at these resilient performers.
Divislab showed strength closing at Rs 4,973.05, up 1.74% from its previous close of Rs 4,917.90. The stock opened at Rs 4,861.70 and reached a high of Rs 5,010.00 before settling near its intraday peak. This pharmaceutical company's positive performance stood out in an otherwise bearish market
HDFC Bank Limited also bucked the trend ending the day at Rs 1,658.05, a 1.17% increase from its last close of Rs 1,638.80. The stock opened at Rs 1,631.00 and touched a high of Rs 1,670.50 demonstrating investor confidence in the banking giant
Dr. Reddy's Laboratories closed at Rs 6,945.70, up 0.84% from its previous close of Rs 6,887.95. The stock opened at Rs 6,881.00 and reached a high of Rs 6,981.00 during the day showcasing resilience in the pharmaceutical sector
Sun Pharmaceutical Industries Limited ended the session at Rs 1,729.00 gaining 0.80% from its last close of Rs 1,715.20. The stock opened at Rs 1,700.00 and hit a high of Rs 1,741.80 reflecting positive sentiment in the pharma space
Britannia Industries Limited saw its stock price rise to Rs 5,766.00 up 0.63% from the previous close of Rs 5,730.15. Opening at Rs 5,708.05 the stock reached a high of Rs 5,808.00 indicating investor interest in the consumer goods sector.
Nestle India Limited closed at Rs 2,498.00, a 0.56% increase from its last close of Rs 2,484.00. The stock opened at Rs 2,480.00 and touched a high of Rs 2,514.00 showing strength in the FMCG segment
Kotak Mahindra Bank Limited ended the day at Rs 1,797.50 up 0.27% from its previous close of Rs 1,792.65. Opening at Rs 1,781.10 the stock reached a high of Rs 1,810.00 demonstrating resilience in the banking sector
Asian Paints Limited closed at Rs 3,105.00, a slight 0.18% gain from its last close of Rs 3,099.35. The stock opened at Rs 3,070.00 and hit a high of Rs 3,129.05 showing stability in the paints and coatings industry
