Stock market closing: Nifty, Sensex close in green, BPCL, Airtel, Coal India amidst top gainers
Jul 16, 2024, 15:51 IST
Both indices, Nifty and Sensex closed the day in the green. While Nifty closed at 24,613.00 points, up by 0.11%, Sensex closed at 80,709.26 points, up by 0.06%. Notably, the markets will remain closed tomorrow due to Moharram.
Coal India (up by 3.01%), BPCL (up by 2.71%), Tata Consumers (up by 2.28%), Hindustan Unilever (up by 2.44%) and Bharti Airtel (up by 1.81%) were amongst the leading gainers during the day, while Shri Ram Finance 9down by 2.16%), Kotak Bank (down by 1.99%), Dr. Reddy (down by 1.55%), Reliance (down by 1.44%) and NTPC (down by 1.35%) were amidst the leading laggards. Asian Paints and LTI Mindtree are expected to release their Q1FY25 results tomorrow.
Amidst broad market indices, Nifty Next 50, 100, 200 and 500 closed in red. Most midcap and small cap indices closed the day in green. Amidst sectoral indices, bank, financial services, media, metal, healthcare, oil and gas, pharma, PSU and private banks closed the day in red. Realty inched up by 1.66% during the day, while media fell 1.03%.
Mr. Aditya Gaggar Director of Progressive Shares noted that the index oscillated in a tight range of 24,600-24,650 and finally settled at 24,613.00 with gains of 26.30 points. "On a sectoral front, realty was the top gainer followed by FMCG and IT while media corrected the most. Profit booking led correction was witnessed in the Pharma segment. Despite the muted performance by mid and small caps, stock-specific buying was observed", he said.
Out of the 2,772 stocks traded, 1,403 saw advances, while 1,283 declined. Another 86 remained unchanged. 156 stocks hit their 52-week high, while 15 stocks also touched their 52-week low. 124 stocks hit the upper circuit during trading today, while 78 stocks hit the lower circuit as well.
Shrikant Chouhan, Head Equity Research, Kotak Securities highlights that the short-term texture of the market is still positive. Currently, the market has witnessed narrow range activity at higher levels, which Chouhan sees as traders waiting for either side breakout.
"For the bulls now, 24,665/80,900 would be the immediate breakout level. Above which, the market could rally up to 24,750-24,775/81,200-81,300. On the flip side, we could see one quick intraday correction if the index slip below 24,550/80,500. Below which, it could retest the level of 24,500/80,300. Further down side may also continue which could drag the market till 24,425/80,000", he explained.
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Coal India (up by 3.01%), BPCL (up by 2.71%), Tata Consumers (up by 2.28%), Hindustan Unilever (up by 2.44%) and Bharti Airtel (up by 1.81%) were amongst the leading gainers during the day, while Shri Ram Finance 9down by 2.16%), Kotak Bank (down by 1.99%), Dr. Reddy (down by 1.55%), Reliance (down by 1.44%) and NTPC (down by 1.35%) were amidst the leading laggards. Asian Paints and LTI Mindtree are expected to release their Q1FY25 results tomorrow.
Amidst broad market indices, Nifty Next 50, 100, 200 and 500 closed in red. Most midcap and small cap indices closed the day in green. Amidst sectoral indices, bank, financial services, media, metal, healthcare, oil and gas, pharma, PSU and private banks closed the day in red. Realty inched up by 1.66% during the day, while media fell 1.03%.
Mr. Aditya Gaggar Director of Progressive Shares noted that the index oscillated in a tight range of 24,600-24,650 and finally settled at 24,613.00 with gains of 26.30 points. "On a sectoral front, realty was the top gainer followed by FMCG and IT while media corrected the most. Profit booking led correction was witnessed in the Pharma segment. Despite the muted performance by mid and small caps, stock-specific buying was observed", he said.
Out of the 2,772 stocks traded, 1,403 saw advances, while 1,283 declined. Another 86 remained unchanged. 156 stocks hit their 52-week high, while 15 stocks also touched their 52-week low. 124 stocks hit the upper circuit during trading today, while 78 stocks hit the lower circuit as well.
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"For the bulls now, 24,665/80,900 would be the immediate breakout level. Above which, the market could rally up to 24,750-24,775/81,200-81,300. On the flip side, we could see one quick intraday correction if the index slip below 24,550/80,500. Below which, it could retest the level of 24,500/80,300. Further down side may also continue which could drag the market till 24,425/80,000", he explained.