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Today's Important Stock Market News 31 July 2023

Hi everyone,

Here's a quick roundup of some of the most important stock market news in India today, July 30, 2023.

Sensex and Nifty close lower

The Sensex and Nifty closed lower last trading day, with the Sensex falling 0.16% to 66,160.20 and the Nifty falling 0.07% to 19,646.00. The sell-off was led by losses in IT and banking stocks.

Maruti Suzuki, IDFC First Bank, NTPC top gainers

The top gainers on the Sensex today were Maruti Suzuki (up 6.31%), IDFC First Bank (up 6.13%), NTPC (up 3.78%), and SKF India (up 3.78%).

Reliance General raises Rs 200 crore from Reliance Capital

Reliance General Insurance has raised Rs 200 crore from Reliance Capital through a preferential allotment of shares. The proceeds will be used to strengthen the company's balance sheet and for general corporate purposes.

Markets headed for a correction?

Some analysts are warning that the Indian stock market is headed for a correction. They point to the fact that the Sensex and Nifty have been rising sharply in recent months, and that valuations are now at elevated levels.

What to do if the market corrects?

If the market does correct, it's important to stay calm and not panic. Remember that the stock market is cyclical, and that corrections are a normal part of the market cycle. If you're a long-term investor, you should stay invested and ride out the correction.

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