Stock Market Highlights, July 4: Sensex, Nifty end flat; HDFC Bank falls 2%, Tata Motors rises 3%
Stock market Highlights today, Thursday, July 04: The broader markets, however, outperformed the benchmarks with the BSE MidCap and SmallCap indices closing 0.6 per cent higher each
 "Stock Market LIVE: Benchmarks off record highs; Sensex up 100 pts, Nifty holds 24,300")
Closing Bell on Thursday, July 4, 2024: Indian stock markets closed higher on Thursday, amid the weekly F&O expiry, and information technology (IT) stocks held the fort.
The BSE Sensex index closed at 80,050, up 63 points or 0.08 per cent, after it hit a record high of 80,393 in the intraday trade. The NSE Nifty50, on the other hand, nothced a fresh lifetime high of 24,401 before ending at 24,302, up 16 points or 0.06 per cent.
Tata Motors, HCL Tech, ICICI Bank, Sun Pharma, Infosys, TCS, Kotak Bank, M&M, Asian Paints, and Bharti Airtel were the top gainers on the SEnsex, up between 0.3 per cent and 3 per cent.
HDFC Bank, Bajaj Finance, Tech M, Ultratech Cement, L&T, and Titan, on the other hand, closed up to 2.2 per cent lower.
The broader markets, however, outperformed the benchmarks with the BSE MidCap and SmallCap indices closing 0.6 per cent higher each.
Among sectors, the Nifty IT, and Pharma indices added over 1 per cent each, while the Nifty FMCG fell 0.21 per cent.
10:40 AM
Views by: Deepak Jasani, Head of Retail Research, HDFC Securities
Tech View :: 'Nifty could face resistance in the 24,380-24,401 range'
Nifty formed a small negative candle on July 04 but closed above the doji formed on the previous day. Nifty is not yet showing any clear trend and keeps consolidating with an upward bias. Nifty could face resistance in the 24,380-24,401 band while support could come in at 24,174-24,236 band in the near term.
Views by: Deepak Jasani, Head of Retail Research, HDFC Securities
10:22 AM
Views by: Vinod Nair, Head of Research, Geojit Financial Services
Comment :: What is driving stock market sentiment?
The defensive bet on large caps like IT and pharma gained momentum due to the diminishing US inflationary pressure, improvement in QoQ earnings outlook and a resultant sharp fall in the US 10 yr bond yield. The buoyancy in government spending and the green shoots in corporate earnings are now supporting the premium valuation. Return of FIIs to the domestic market and expectation of a rate cut in September are supporting market sentiment.
Views by: Vinod Nair, Head of Research, Geojit Financial Services
10:18 AM
Comment :: 'Wait for potential dips to add long positions in Nifty'
The Nifty has approached its immediate target of 24,500 and appears slightly overextended. It would be prudent to take some profits and wait for a potential dip before considering new long positions in the index.
Meanwhile, the broader market strength and specific sectoral buying opportunities suggest that traders should focus more on stock selection and utilise dip/consolidation to add quality names.
Views by: Ajit Mishra – SVP, Research, Religare Broking
Meanwhile, the broader market strength and specific sectoral buying opportunities suggest that traders should focus more on stock selection and utilise dip/consolidation to add quality names.
Views by: Ajit Mishra – SVP, Research, Religare Broking
10:16 AM
Currency check :: Rupee ends 3 paise higher at 83.50/$
10:14 AM
Broader market check :: Mid, SmallCap indices gain 0.6% each
10:13 AM
Sectoral trends :: Pharma, IT hold gains in lacklustre session; Media, FMCG stocks slip
10:11 AM
Sensex Heatmap :: Profit booking in financials weigh on benchmarks
10:10 AM
Closing Bell :: Nifty ends 24,300
10:08 AM
Closing Bell :: Sensex pares gains but holds 80,000
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Topics : MARKET LIVE MARKET WRAP MARKETS TODAY Markets Sensex Nifty Indian equity markets Gift Nifty Indian stock markets Nifty 50 stock market trading stock market investing Global stock markets FII flows Stock movemnet
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First Published: Jul 04 2024 | 7:44 AM IST
