July 15, 2024
New Delhi, India
Stock Market Highlights
On July 15, 2024, the Indian stock market defied weak global cues, ending on a positive note with broad-based gains. The BSE Sensex climbed 150 points, or 0.18%, closing at 80,665. Meanwhile, the NSE Nifty50 hit a record high of 24,635 during the intraday session, ending at 24,587, up 85 points or 0.35%.
Market Highlights:
- Top Gainers: ONGC, SBI Life Insurance, Shriram Finance, SBI, and Bajaj Auto led the gains on the Nifty. State Bank of India (SBI), NTPC, Ultratech Cement, M&M, Bajaj Finance, ITC, Tata Motors, Maruti Suzuki India, Adani Ports, and HCL Tech also saw significant gains, ranging from 0.5% to 2.5%.
- Top Losers: LTIMindtree, Asian Paints, Grasim, Tata Steel, and Tata Consumer were among the top losers.
- Sector Performance: The Nifty PSU Bank index surged 3%, while the Nifty Auto, Media, Pharma, and Realty indices each gained over 1%. In the broader markets, the BSE MidCap index added 0.9%, and the BSE SmallCap rose 0.21%.
Also Read: USDINR Dynamics and Indian Inflation Trends: A Comprehensive Overview
Broader Market Performance:
The BSE MidCap index gained 0.9%, and the BSE SmallCap index rose 0.21%. Shares of companies like HDFC Life, Jio Financial, HDFC AMC, Angel One, and SpiceJet were in focus as they announced their first-quarter results.
Global Market Context:
Stock futures indicated modest gains in Europe following a rally in Asia, driven by chipmakers. The MSCI Asia Pacific Index rose 1%, lifted by tech-heavy markets in South Korea and Taiwan. S&P 500 futures remained steady, with traders optimistic about potential Federal Reserve rate cuts fueling the tech sector.
Bottom Line
The Indian stock market showed resilience and optimism amid global market fluctuations, driven by strong performances in the PSU Bank, Realty, and Oil & Gas sectors. Investors remain hopeful about continued growth and strategic opportunities in the evolving market landscape.
Currency Market Update July 15, 2024
Disclaimer:
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