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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

SI Reporter New Delhi
Stock Market LIVE: Benchmarks off record highs; Sensex up 100 pts, Nifty holds 24,300

1 min read Last Updated : Jul 04 2024 | 4:10 PM IST

Key Events

4:10 PM

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

3:52 PM

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

3:48 PM

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

3:46 PM

Currency check :: Rupee ends 3 paise higher at 83.50/$

3:44 PM

Broader market check :: Mid, SmallCap indices gain 0.6% each

3:43 PM

Sectoral trends :: Pharma, IT hold gains in lacklustre session; Media, FMCG stocks slip

3:41 PM

Sensex Heatmap :: Profit booking in financials weigh on benchmarks

3:40 PM

Closing Bell :: Nifty ends 24,300

3:38 PM

Closing Bell :: Sensex pares gains but holds 80,000

3:27 PM

This small-cap stock has bounced back 80% from June low; zooms 3x in 1 year

With today's rally, the stock of the small-cap firm has bounced back 80 per cent from its June 4 low of Rs 268.  In the past one year, it has zoomed 213 per cent, as against 22.3 per cent rally in the benchmark index. READ MORE

3:15 PM

Listed media majors expected to struggle in the first half of FY25

The advertising environment in the first quarter was marked by the Indian Premier League (IPL) in April and May, the T20 World Cup in June, and election-related ad spends. Fast-moving consumer goods (FMCG) ad spending slowed down in June, pointed out Balaji Subramanian and Siddharth Zabak of IIFL Research, due to an erratic monsoon and in anticipation of the Union Budget. Zee and Sun may see muted ad revenue growth, as they are under-indexed in the sports and news genres. READ MORE

3:03 PM

Not politics, not interest rates: India's economy at risk from water

The shortages are affecting rural and urban Indians alike, disrupting agriculture and industry, stoking food inflation and risking social unrest. READ MORE

2:53 PM

Lupin stock rallies 7%, hits multi-year high on healthy earnings outlook

The management expects to sustain US business at the $200 million plus level, going ahead with the continued ramp-up of Tiotropium and new product launches in fiscal year 2024-25. READ MORE


2:43 PM

SME IPO opening price to be capped at 90% in pre-open on listing day: NSE

NSE price cap on SME IPO: The price control cap of 90 per cent shall be applicable only to the SME segment and not for Mainboard IPOs, NSE said. READ MORE


2:30 PM

Bandhan Bank shares gain 2% on strong June quarter business update

Bandhan Bank in focus:Shares of private lender Bandhan Bank gained as much as 1.75 per cent to hit an intraday high of Rs 214.65 per share on Thursday, July 04.  READ MORE

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. 

Topics :MARKET LIVEMARKET WRAPMARKETS TODAYMarkets Sensex NiftyIndian equity marketsGift NiftyIndian stock marketsNifty 50stock market tradingstock market investingGlobal stock marketsFII flowsStock movemnet

First Published: Jul 04 2024 | 7:44 AM IST