Business Standard

Stock Market Highlights, July 10: Sensex down 427 pts, ends below 80k; Nifty nears 24,300; M&M tanks

Stock Market Highlights on Wednesday, July 10, 2024: In the broader markets, the BSE MidCap, and SmallCap indices declined nearly 2 per cent each intraday

Image SI Reporter New Delhi
share market stock market trading

Closing Bell on Wednesday, July 10, 2024: Equity markets came under considerable selling pressure on Wednesday, weighed by broad-based profit booking. 

The BSE Sensex index fell 916 points intraday, before recouping some of the losses to end at 79,925, down 427 points or 0.53 per cent. The Nifty50, too, hit an intraday low of 24,141 before ending at 24,324, down 109 points or 0.45  per cent.

M&M, down 6.6 per cent, was the biggest dragger on the benchmark indices, followed by Tata Steel, TCS, SBI, HCL Tech, JSW Steel, Tata Motors, Infosys, Kotak Bank, ITC, and IndusInd Bank.

On the upside, Asian Paints (up 3 per cent), Power Grid, HUL, NTPC, Adani Ports, and Bharti Airtel helped in limiting losses. 

In the broader markets, the BSE MidCap, and SmallCap indices declined nearly 2 per cent each intraday. The indices ended 0.19 per cent and 0.67 per cent lower, respectively. 

Among sectors, defensive plays like the Nifty FMCG, and Pharma indices ended in the positive zone, rising up to 0.4 per cent. On the downside, the Nifty Auto shed over 2 per cent. 

3:43 PM

Tech View :: 'Bank Nifty can drop to 51,000 if....'

The Bank Nifty index continued to witness selling pressure from higher levels and was unable to surpass the 52,500 mark, where call writers are active.

The index is trading near a crucial support zone of 52,000-51,800. If it manages to hold this level, it can witness a pullback rally towards 52,500.

A sustained move above 52,500 will open up gates for 53,000, but if it fails to hold the support of 51,800, it can decline further towards the 51,300-51,000 zone

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
3:41 PM

Currency check :: Rupee slips 4 paise

3:41 PM

Broader markets :: SmallCap index underperforms

3:40 PM

Sectoral trends :: FMCG, Pharma indices rise in a weak market

3:39 PM

Sensex Heatmap :: M&M, IT stocks weigh on benchmark indices

3:38 PM

Closing Bell :: Nifty ends below 24,350

3:38 PM

Closing Bell :: Sensex recoups more than 50% from day's low

3:29 PM

Stock Split Ahead :: Sportking India Board to meet on July 20

>> To consider and approve the Unaudited Financial Results of the Company for the quarter ended 30th June, 2024.

>> To consider and approve the proposal to Sub- Division jSplit of the Equity Shares of the Company 
3:22 PM

ALERT :: Berger Paints announces price hike of 0.7-1% effective July 22

3:15 PM

Delhivery block deal today; Rajesh Exports, Shoppers Stop zoom up to 18%

Delhivery shares gained 2.8 per cent in the intraday trade to hit a high of Rs 403,65. Delhivery shares has closed at Rs 392,35 per share on Tuesday. The spike in Delhivery shares was registered after 23.4 million shares changed hands on the NSE and BSE in the block deal window. READ MORE

3:03 PM

Life insurers extend rally on healthy growth in Q1; ICICI Pru hits 52-week high

As India marches forward to join the ranks of developed nations, the demand for long-term savings, protection and annuity products will only accelerate, believe life insurers. READ MORE

Photo: Bloomberg
2:52 PM

Asian Paints stock jumps 5% on reports of rise in prices across portfolio

Shares of Asian Paints rallied as much as 5.09 per cent at Rs 2,979 per share on the BSE in Wednesday’s intraday trade. This came after Asian Paints reportedly increased prices across its portfolio by up to 1 per cent. This move boosted the company's share price, despite weakness in the market. READ MORE

Asian Paints: Volumes driven by strong distribution; low-end products

2:42 PM

Telecom equipment production sales cross Rs 50,000 crore under PLI scheme

The Production Linked Incentive (PLI) scheme for telecom equipment manufacturing has achieved a remarkable feat, with sales surpassing Rs 50,000 crore. The Centre announced this milestone on Wednesday. READ MORE

telecom equipment

2:34 PM

TVS Motor stock gains on launching 2024 Apache RTR 160-racing edition

Shares of TVS Motor gained as much as 1.54 per cent to hit an intraday high of Rs 2,476 per share on Wednesday. The rise in the share price came after the company announced that it has launched 2024 Apache RTR 160-racing edition.  READ MORE

TVS Motor


2:23 PM

HCL Tech Q1 Preview: Weak deals, client spending to dent profits by 6-7%

According to analysts, HCL Tech is likely to report a revenue increase of 6-7 per cent year-on-year (Y-o-Y) between Rs 27,900 crore to Rs 28,034 crore. READ MORE

HCl Tech Q2 net income rises 4.4% to Rs 2,651 crore, EBIT up 17.9%
 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 10 2024 | 7:11 AM IST

Explore News