Market Highlights, July 18: IT stocks drive benchmarks to record; Sensex tops 81k, Nifty at 24,800
Stock Market Highlights, today, July 18, 2024: The Sensex index ended at 81,343, up 627 points, while Nifty ended at 24,801, up 188 points
 "Stock market rally, bull trading, Sensex, nifty")
Closing Bell on Thursday, July 18, 2024: A sharp surge in the afternoon session on Thursday pushed benchmarks -- BSE Sensex and NSE Nifty -- to record high levels. While the Sensex index topped the 81,000-mark for the first time, the Nifty50 surpassed 24,800 in the intraday trade.
The 30-stock Sensex index ended at 81,343, up 627 points or 0.78 per cent, after hitting a record high of 81,522.5. The broader Nifty50, meanwhile, ended at 24,801, up 188 points or 0.76 per cent, after hitting a lifetime peak of 24,838.
TCS, Bajaj Finserv, M&M, HUL, Infosys, HCL Tech, Tech M, SBI, Kotak Bank, Bharti Airtel, ITC, and ICICI Bank rallied in the range of 0.7 per cent to 3 per cent.
The broader markets, however, stayed in the negative zone with the BSE MidCap and SmallCap indices falling 0.99 per cent and 1.15 per cent, respectivrly.
Among sectors, the Nifty IT index gained 2.2 per cent, and ending above the 40,000-mark. This was followed by the Nifty Financial Services index (up 0.57 per cent). On the downside, the Nifty Media index fell 3.57 per cent.
3:48 PM
Tech View :: 'Nifty Bank may move towards 53,300 in short term'
The Bank Nifty formed a bullish engulfing pattern following a consolidation. Additionally, the index found support at the 21 EMA, and the RSI has entered a bullish crossover. The trend is likely to remain positive as long as the index stays above 52,000. On the higher end, it might move towards 53,000/53,300 in the short term.
Views by: Rupak De, Senior Technical Analyst, LKP Securities
Views by: Rupak De, Senior Technical Analyst, LKP Securities
3:47 PM
Tech View :: 'Trend to remain positive till Nifty stays above 24,500'
The index remained volatile during the session, engulfing yesterday's doji pattern. The trend and momentum remain positive, with the index staying above critical short-term moving averages and a positive crossover in the daily RSI. In the short term, the trend is likely to remain positive as long as the index stays above 24,500. On the higher end, the current trend might take the index towards 25,000 in the near term.
Views by: Rupak De, Senior Technical Analyst, LKP Securities
Views by: Rupak De, Senior Technical Analyst, LKP Securities
3:45 PM
Comment :: What all happened in the markets today?
The frontline indices firmed up in the second half, reaching fresh highs driven by renewed buying in IT stocks. Investor optimism for the sector grew after strong performance reports from the country's leading IT firms in the June quarter, coupled with a weakening rupee. However, the broader market lagged the major indices due to high valuations and sectoral rotation, which is influenced by anticipated improvements in private consumption, particularly in rural areas.
Views by: Vinod Nair, Head of Research, Geojit Financial Services.
Views by: Vinod Nair, Head of Research, Geojit Financial Services.
3:43 PM
Broader markets :: Mid, SmallCap indices slide up to 1%
3:41 PM
Sectoral trends :: Most indices end in green; Metal, Media indices underperform
3:39 PM
Sensex Heatmap :: IT, Bajaj Finserv, HUL propel benchmarks to new highs
3:38 PM
Closing Bell :: Nifty holds 24,800 at close
3:36 PM
Closing Bell :: Sensex ends above 81,000 for the first time
3:27 PM
ALERT :: Power Mech Projects wins order worth Rs 209.50 crore
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3:19 PM
Economists ask govt to bring FY25 fiscal deficit target down from 5.1%
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3:04 PM
Mastek shares drop 4% after margins, profits slide in Q1FY25
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2:55 PM
ALERT:: Bharat Forge Q1 net dips marginally; stock dips 2%
Bharat Forge today reported 5.5 per cent dip in Q1FY25 net profit to Rs 23.93 crore when compared with Rs 25.33 crore in Q1FY24. Total income declined 14.8 per cent YoY to Rs 384.36 crore from Rs 451.12 crore.
2:46 PM
ALERT:: Polycab India Q1 net dips marginally; stock trades flat
Polycab India Q1 consolidated net profit dipped 0.4 per cent to Rs 401.62 crore for the quarter ended June 2025 when compared with Rs 403.16 crore in the year ago quarter. Total income, however, rose 20.3 per cent YoY to Rs 4,756.44 crore from Rs 3,953.38 crore.
2:36 PM
Newgen Software stock price falls 7% on weak June quarter results
The fall in the stock price came after the company announced a weak set of June quarter of financial year 2025 (Q1FY25) results. READ MORE
2:26 PM
This Dolly Khanna-owned stock has dipped 24% in July thus far
With today’s decline, the stock price of specialty chemicals company has slipped 24 per cent from its record high of Rs 2,179 touched on June 28. Prior to that, in 71 days between March 14 and June 28, the market price of Tinna Rubber and Infrastructure had zoomed 276 per cent from Rs 580 on March 14. READ MORE
Topics : MARKET LIVE MARKET WRAP Markets Q1 results Market news Indian stock markets Indian stock market Global Markets global markets sell-off Tech stocks nikkei
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First Published: Jul 18 2024 | 7:43 AM IST
