Stock Market Highlights, July 1: Mid, SmallCap indices hit record highs; Sensex gains 443 pts
Stock market Highlights on Monday, July 1, 2024: Tech M, Bajaj Finance, Ultratech Cement, TCS, Infosys, JSW Steel, HUL, HDFC Bank, Tata Motors, ITC, ICICI Bank, Titan were the top gainers today
 "NSE, BSE, Indian stock market")
NSE, BSE, Indian stock market (Photo: Bloomberg)
Closing Bell on Monday, July 1, 2024: After starting on a quiet note, benchmark indices gained ground on Monday led by information technology (IT), metal, and financial shares. The BSE Sensex index gained 443 points, or 0.56 per cent, to end at 79,476 levels, while the Nifty50 closed at 24,142, up 131 points or 0.55 per cent.
Tech M, Bajaj Finance, Ultratech Cement, TCS, Infosys, JSW Steel, HUL, HDFC Bank, Tata Motors, ITC, ICICI Bank, Titan, Maruti Suzuki, and HCL Tech were up in the range of 0.5 per cent to 3 per cent.
The broader indices, on the other hand, maintained their outperformance over the large-cap peers and hit record highs in the intraday trade. The BSE MidCap index, for instance, ended 1.11 per cent higher, settling near its new lifetime high of 46,696 touched earlier today.
The BSE SmallCap index, too, ended 1.58 per cent higher, barely 20 points less than its record high of 52,976, hit in the intraday trade.
Among sectors, the Nifty Media index jumped 2.4 per cent, the Nifty IT 1.97 per cent, and the Nifty Metal 0.7 per cent.
3:51 PM
Comment :: 'Consistent buying interest on dips suggests bullish control'
The consistent buying interest on dips suggests bullish control, likely continuing the current tone. The renewed strength in midcap and smallcap segments adds further positivity. Traders should focus on selecting sectors/themes with rotational participation and consider adding positions during pauses or dips.
Views by: Ajit Mishra – SVP, Research, Religare Broking
Views by: Ajit Mishra – SVP, Research, Religare Broking
3:46 PM
Comment :: Why did IT stocks rise today, July 1?
he domestic market sustained its upward momentum, with a reduction in US PCE inflation raising hopes for a rate cut by the FED in September. This optimism contributed to the strong performance of IT stocks. We anticipate this trend will persist in the near term due to expectations of a rebound in discretionary spending. Investors are now focusing on upcoming US job data and the Fed Chair's speech for further indication on interest rates.
Views by: Vinod Nair, Head of Research, Geojit Financial Services
Views by: Vinod Nair, Head of Research, Geojit Financial Services
3:42 PM
Currency check :: Rupee ends 6 paise weaker at 83.44/$
3:40 PM
Broader markets :: Mid, SmallCap indices gain over 1%, hit record highs
3:39 PM
Sensex Heatmap :: Tech M, Ultratech, Bajaj Fin among top winners
3:37 PM
Closing Bell :: Nifty holds 24,100
3:36 PM
Closing Bell :: Sensex zooms over 400 pts after tepid start
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Topics : IPO Stock Market Sensex MARKET LIVE MARKET WRAP Markets Sensex Nifty BSE NSE share market Gift Nifty
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First Published: Jul 01 2024 | 7:20 AM IST
