July 11, 2024
New Delhi, India
Stock Market Highlights:
On Thursday, July 11, 2024, Indian stock markets exhibited significant volatility. The BSE Sensex concluded the session 27 points lower at 79,897, while the Nifty50 closed down 8.5 points at 24,316. Despite this, midcap and smallcap indices demonstrated resilience and outperformed the major indices.
Midcap and Smallcap Indices:
- The BSE MidCap index increased by 0.4%.
- The BSE SmallCap index added 0.6%.
Sector Performance:
- Gains were noted in sectors like oil and shipping stocks.
- The Nifty Media index closed 1% higher.
- The Nifty FMCG index rose by 0.3%.
- The Nifty Realty index fell by 1.5%.
Also Read: Raymond Shares Plunge 35% on Demerger Day
Key Movers:
The Sensex and Nifty were impacted by selling in stocks such as L&T, HDFC Bank, Bajaj Finance, ICICI Bank, Sun Pharma, and Bharti Airtel. However, gains in Tata Motors, ITC, Kotak Bank, TCS, SBI, Asian Paints, and Titan Company helped offset some losses.
Broader Market Activity:
- Shares of RVNL and YES Bank were prominent gainers in the broader market.
- Raymond traded at an adjusted price following the demerger of its Lifestyle unit.
Also Read: Ambey Laboratories Shares Debut with 25% Premium on NSE SME
Intraday Performance:
The BSE benchmark index hit an intraday low of 79,464, while the NSE benchmark touched 24,194 before recovering some losses.
Global Influence:
Indian equities mirrored gains in Asian markets, with IT and financial stocks leading the upward trend. Global market sentiment was buoyed by expectations of positive US inflation data, potentially leading to rate cuts by the US Federal Reserve.
Closing Summary:
Despite initial gains, Indian benchmark indices ended flat due to market volatility. The BSE Sensex fell by 27 points to 79,897.34, and the NSE Nifty 50 closed 8.50 points lower at 24,315.95. The Bank Nifty closed in the green, rising by 81 points to 52,271, while the Nifty Midcap 100 closed 227 points higher at 57,148.25.
Disclaimer:
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