July 8, 2024
New Delhi, India
Market Action Today
The Indian stock market benchmarks—the Sensex and the Nifty 50—closed flat on Monday, July 8. Gains in shares of heavyweights such as ITC, Reliance Industries, and Infosys were offset by losses in HDFC Bank, Titan, TCS, and Mahindra and Mahindra amid mixed global cues.
Highlights
Flat Close:
- Sensex: Ended at 79,960.38, down 36 points or 0.05%.
- Nifty 50: Closed at 24,320.55, down 3 points.
Opening and Trading:
- Sensex opened at 79,915, slightly lower than its previous close of 79,996.60, and traded in the red for most of the session.
- Nifty 50 opened at 24,329.45 against its previous close of 24,323.85.
Top Performers:
- Top Gainers: ITC, Reliance Industries, Infosys, Hindustan Unilever, and Nestle.
- Top Movers: ITC, Reliance, and Infosys were the top three movers in the Sensex index.
- Top Drags: HDFC Bank, Titan, TCS, and Mahindra and Mahindra were the major losers.
Reliance Industries:
- Hit a fresh record high of ₹3,217.90 on the BSE before closing 0.76% higher at ₹3,201.50, extending gains for the third consecutive session.
- CARE Ratings reaffirmed the credit rating of ‘CARE AAA; Stable’ and ‘CARE A1+’ for its non-convertible debentures (NCDs) and commercial papers.
Also Read: Upcoming Week’s IPO Watch: Here’s the List of IPOs Open for Investment
Broader Market and Sectoral Performance
Midcap and Smallcap Indices:
- BSE Midcap Index: Fell 0.14%.
- BSE Smallcap Index: Ended 0.22% lower.
Sectoral Performance:
- Gainers: Capital goods, FMCG, and oil & gas sectors were up by 0.6-1.5%.
- Losers: Auto, banking, healthcare, metal, realty, power, and telecom sectors were down by 0.4-0.8%.
Closing Bell Summary
- Top Nifty Gainers: ONGC, ITC, HDFC Life, Hindustan Unilever (HUL), and Tata Consumer Products.
- Top Nifty Losers: Divis Labs, Titan Company, BPCL, Shriram Finance, and Adani Ports.
Also Read: SEBI Introduces New Surveillance Measures for Pre-Open IPO Sessions
Recovery Factors:
- The recovery from the day’s low was supported by gains in ITC, Hindustan Unilever, Nestle India, HCL Tech, Reliance Industries, Tata Motors, Infosys, and IndusInd Bank.
- The downside was pressured by losses in Titan Company, HDFC Bank, TCS, Tata Steel, Adani Ports, Sun Pharma, and Asian Paints.
Sectoral Indices:
- The Nifty FMCG index was the only sectoral index to end in the green, adding 1.6%.
- The Nifty Metal, PSU Bank, and Consumer Durable indices fell over 1% each.
Disclaimer:
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