Stock Market Highlights, July 02: Sensex, Nifty end marginally in red; Infy, L&T shine
Stock Market highlights on Tuesday, July 02, 2024: The BSE Sensex ended 35 points lower at 79,441, after hitting a record high of 79,856. Bank and midcap stocks crumbled under selling pressure.
 "BSE, NSE, Indian share market, Stock market")
(Photo: Bloomberg)
Closing Bell on Tuesday, July 02: Equity benchmark indices ended with marginal losses on Tuesday owing to selling pressure in banking shares.
The S&P BSE Sensex hit a new high at 79,856 and was up 380 points at the highest point of the day. The BSE benchmark index, thereafter, slipped into red and touched a low of 79,231. The Sensex finally ended 35 points lower at 79,441.
The NSE Nifty 50 index registered a new summit at 24,236, but eventually settled with a loss of 18 points at 24,124.
Among the Sensex 30 shares, Larsen & Toubro gained nearly 3 per cent amid buzz of order win from Saudi Aramco. Infosys, HDFC Bank and TCS were the other major gainers. On the other hand, Bharti Airtel and Kotak Bank over 2 per cent each. IndusInd Bank, SBI, ICICI Bank, Tata Motors, IndusInd Bank and Bajaj Finance were the other major losers.
In the broader market, the BSE MidCap index slipped 0.6 per cent, while the SmallCap index added 0.1 per cent. The overall breadth, however, was marginally positive, with over 2,050 stocks advancing as againsst 1,864 declining shares on the BSE.
4:03 PM
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Comment:: Spike in US treasury yields, crude oil weigh on short-term sentiment
The domestic market took a breather, resonating with the mixed global trend, with the ECB showing caution regarding further rate cuts. In sectoral trends, IT stocks gained due to expected increases in discretionary spending, while auto stocks declined following lower-than-expected monthly volumes. The investors are closely monitoring the progress of the monsoon, the forthcoming Union budget, alongside the US election, which can have potential global economic implications. Recent spikes in US Treasury yields and a gradual rise in crude oil prices are affecting market trends.
- Vinod Nair, Head of Research, Geojit Financial Services
4:01 PM
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Comment:: Nifty to remain in sell on rallies mode below 24,250
The Nifty faced profit booking around 24,200, leading to a close 100 points off the high. The sentiment is likely to favor selling on rallies until it moves above 24,250. On the lower end, 24,000 is likely to act as immediate support for the Nifty. A fall below 24,000 might trigger a correction towards 23,850 - 23,700.
- Rupak De, Senior Technical Analyst, LKP Securities
4:00 PM
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Comment:: Bank Nifty likely to extend fall
"The Bank Nifty index witnessed selling pressure from higher levels and faced rejection at the 52,400 - 52,500 levels. The index remains in a sell-on-rise mode with the next immediate support at the 52,000 - 51,800 zone. If the index fails to hold this support, it can witness further selling pressure towards the 51,400 - 51,300 level.
- Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
3:56 PM
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BSE SmallCap Heatmap:: GM Breweries, JK Paper soar up to 20%; PGIL, Angel ONE crack 9%
3:54 PM
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BSE MidCap Heatmap:: Solar Industries zooms 9%, Godrej Properties 5%; Max Health, Voda Idea top losers
3:51 PM
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Sectoral check:: Nifty PSU Bank index slip 1.8%; BoB, BoI fall over 2%
3:50 PM
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Sectoral check:: Nifty IT index rose over 1%; CoForge gained 3%
3:48 PM
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Broader market check:: MidCap, SmallCap indices declined up to 0.8%
3:44 PM
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Nifty 50 Movers & Shakers:: L&T, IT stocks rally; Shriram Finance sheds 3%
3:43 PM
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Sensex Heatmap:: L&T, Infosys, HDFC Bank shine; Bharti Airtel, Tata Motors, SBI whine
3:41 PM
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Closing Bell: NSE Nifty setlled with a loss of 18 pts at 24,124
3:38 PM
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Closing Bell: BSE Sensex ends 35 pts lower at 79,441
3:23 PM![]()
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Topics : Stock Market MARKET WRAP MARKET LIVE share market Markets Sensex Nifty BSE NSE IOL Chemicals and Pharmaceuticals Market news
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First Published: Jul 02 2024 | 7:41 AM IST
