July 16, 2024
New Delhi, India
Stock Market Today
Indian benchmark indices, Sensex and Nifty, ended higher for the third consecutive session on July 16, 2024. The gains were led by the realty and FMCG sectors, despite a mixed performance across the broader market.
Key Highlights:
- Sensex Performance:
- Closed up 51.69 points or 0.06% at 80,716.55.
- Hit an intraday record high of 80,898 before closing.
- Nifty Performance:
- Closed up 26.30 points or 0.11% at 24,613.00.
- Reached a new peak of 24,661 during the session.
Market Breadth:
- Advancers vs. Decliners:
- 1,791 shares advanced.
- 1,726 shares declined.
- 68 shares remained unchanged.
Also Read: Vedanta Shares in Spotlight: Launches QIP to Raise Funds
Top Nifty Gainers:
- Coal India
- BPCL
- HUL
- Tata Consumer Products
- Bharti Airtel
Top Nifty Losers:
- Shriram Finance
- Dr Reddy’s Labs
- Kotak Mahindra Bank
- UltraTech Cement
- Reliance Industries
Sectoral Performance:
- Positive Performers:
- Realty Index: Surged 1.6%.
- FMCG, IT, Metal, and Telecom: Up 0.3-0.9%.
- Negative Performers:
- Media Index: Shed 1%.
- Power and Capital Goods: Down 0.5% each.
Broader Market Indices:
- BSE Midcap: Down 0.3%.
- BSE Smallcap: Up 0.3%.
Market Highlights, July 16:
- Despite hitting record highs during the session, Sensex and Nifty ended flat due to selling pressure in heavyweights like Kotak Mahindra Bank, Reliance Industries, and UltraTech Cement.
- BSE MidCap slipped 0.29%, while BSE SmallCap added 0.32%.
Sectoral Analysis:
- Realty Sector: Led the gains with a 1.6% increase, driven by positive market sentiment.
- FMCG Sector: Gained 0.96%, supported by strong performance from key stocks.
- Media Sector: Declined 1%, facing the most significant sectoral loss.
- Pharma and PSU Bank Sectors: Declined by 0.38% and 0.25%, respectively.
Conclusion:
The Indian stock market benchmarks, Sensex and Nifty, continued their upward trajectory for the third consecutive session on July 16, reaching new record highs. Despite weak global cues and caution ahead of the Union Budget, selective buying in heavyweight stocks supported the indices. The realty and FMCG sectors emerged as the top gainers, while the media sector lagged behind.
Currency Market Update July 16, 2024
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