– Indian stock market benchmarks Sensex and Nifty 50 extended losses for the third consecutive session
– Concerns over US economic slowdown and geopolitical tensions in the Middle East causing caution among investors
– Sensex opened higher but ended in the red due to profit booking, closing at 78,593.07
– Nifty 50 also closed lower at 23,992.55
– Midcap and smallcap indices underperformed benchmarks
– Market capitalisation of BSE listed firms decreased by ₹2 lakh crore in a single session
– Investors cautious and shifting towards defensive sectors like FMCG, IT, and pharma
– Nifty 50 saw 21 stocks in green and 29 in red
– Experts believe US recession fears are premature and market crash due to high global valuations
– RBI Monetary Policy Committee meeting underway with outcome due on August 8
– Technical setup suggests possible bullish reversal or further decline in Nifty 50
– Investors advised to consult certified experts before making investment decisions