July 5, 2024
New Delhi, India
Stock Market Today
Indian equity markets closed flat on Friday after a volatile trading session. Despite a late recovery led by Reliance Industries (RIL), the benchmarks couldn’t sustain early losses. The Nifty Bank index shed nearly 1%, while FMCG and pharma sectors gained over 1%.
Market Highlights
Key Indices Performance
- The BSE Sensex closed at 79,997, down 53 points or 0.07%.
- The NSE Nifty 50 ended at 24,324, up 21 points or 0.09%.
- Nifty Bank fell 443 points to 52,660.
- BSE MidCap and SmallCap indices hit record highs, closing 0.7% higher each.
Sectoral Highlights
- FMCG, pharma, and PSU Bank indices added more than 1% each.
- Nifty Private Bank, Financial Services, and Bank indices fell 1% each.
Top Gainers and Losers
- Gainers: RIL (+2.58%), SBI (+2.5%), NTPC (+1.9%), HUL (+1.89%), L&T (+1.3%), and Nestle India (+1.2%).
- Losers: HDFC Bank (-4.4%), Titan Company, M&M, Tata Steel, and Tata Motors.
Intraday Movements
- Sensex hit an intraday low of 79,479 before recovering.
- Nifty50 hit a low of 24,169 before closing higher.
Stock Specific Highlights
- Reliance Industries (RIL): Shares gained 2.58%, aiding the market’s recovery.
- HDFC Bank: Shares dropped 4.4% due to a below-expected Q1 update.
- MidCap and SmallCap: Hit record highs during intraday trade.
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Additional Highlights
- Market Breadth: Positive with 2,069 stocks advancing and 1,816 declining.
- New Highs and Lows: 366 stocks hit a 52-week high, while 15 hit a 52-week low.
- Circuit Breakers: 349 stocks traded in the upper circuit, 186 in the lower circuit.
Conclusion
Despite early losses, the Indian equity markets managed to end flat, buoyed by gains in RIL and other heavyweights. However, pressure from HDFC Bank and other key stocks kept the benchmarks from making significant gains. The mixed performance across sectors indicates a cautious market sentiment.
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