July 12, 2024
New Delhi, India
Stock Market Highlights
The Indian benchmark indices ended the trading session on a positive note on July 12, driven by a strong rally in Information Technology (IT) stocks. The Sensex and Nifty both reached new highs, with the IT sector leading the charge.
Market Performance
- Sensex: Up 622 points (0.78%) to close at 80,519.34
- Nifty: Up 186.20 points (0.77%) to close at 24,502.20
- Advances vs Declines: 1,595 shares advanced, 2,186 shares declined, 98 shares remained unchanged
Top Gainers on Nifty
- TCS
- Wipro
- LTIMindtree
- Infosys
- HCL Technologies
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Top Losers on Nifty
- Maruti Suzuki
- Divis Labs
- BPCL
- Coal India
- Asian Paints
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Sector Performance
- IT Sector: Surged by 4.5%
- Media Sector: Gained over 2%
- Realty Sector: Shed 1.5%
- Power Sector: Down nearly 1%
- Capital Goods and Auto Indices: Down 0.5% each
MidCap and SmallCap Indices
- BSE MidCap: Ended with marginal losses, down 0.22%
- BSE SmallCap: Closed 0.13% lower
Market Highlights
- IT Rally: The rally was led by TCS, which soared nearly 7% after surpassing revenue estimates for the June quarter.
- Record Highs: Both Sensex and Nifty hit record highs, with Sensex reaching an intraday high of 80,893.5 and Nifty touching 24,592.
- Sectoral Gains: Apart from IT, sectors like Media also performed well.
- Sectoral Losses: The Realty index and Power index faced declines.
Conclusion
The stock market witnessed a robust performance on July 12, with IT stocks driving the gains and helping the indices reach record highs. Despite some sectors like Realty and Power seeing declines, the overall sentiment remained positive, bolstered by strong quarterly results from TCS and other IT giants.
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