Stock market closing: Nifty, Sensex close the day in red, Axis bank stock dips by 5%
Jul 25, 2024, 16:21 IST
Both indices, Nifty and Sensex, closed the day in red. While Nifty ended the day's trade at 24,406.10, down by 0.03%, Sensex closed at 80,039.80, down by around 110 points on July 25th, 2024.
Tata Motors (up by 5.97%), ONGC (up by 4.83%), BPCL (up by 3.67%), SBI Life (up by 3.62%) and Larsen and Toubro (up by 2.91%) were the top gainers during the day. On the other hand, Axis Bank (down by 5.08%), Nestle India (down by 2.50%), ICICI Bank (down by 2.14%), Titan (down by 2.11%) and Tata Steel (down by 1.75%) were amongst the leading laggards.
Except for Nifty50, 100, 200 and India VIX, all other indices closed the day in red. Notably, India VIX inched up over 7% to close the day in green. As for sectoral indices, auto inched up 1.26% during the day, while oil and gas rose over 2%. Metal shed 1.29% during the day to close in red.
Out of the 2,765 stocks traded during the day, 1,369 saw advances, while 1,318 declined, and another 78 remained unchanged. 156 stocks hit their 52-week high price today, while 12-stocks hit their lowest price during the year. 172 stocks touched the upper circuit during the day, while 44 stocks hit the lower circuit.
Aditya Gaggar, director of Progressive Shares notes that following weak global equities, Indian markets started the monthly expiry day on a tepid note with a loss of over 150 points. But, after a sharp cut, one-way recovery was seen throughout the day which supported the index limiting its losses to 7.40 points to end the session at 24,406.10.
"Among the sectors, auto was the biggest gainer followed by energy while metal and realty corrected the most. Mid and small caps recovered from their morning lows but underperformed the benchmark index. As we are constantly mentioning that the level of 24,200 is a strong support and as long as the index holds it, the uptrend will remain intact. On the flip side, a level of 24,560 is considered an immediate hurdle", continued Gaggar.
Shrikant Chouhan, Head Equity Research, Kotak Securities notes that for day traders now, 20 day SMA ( Simple Moving Average ) or 24,300/ 79,700 would be the sacrosanct support level. "Above the same, the market could move up to 24,500-24,650/80,500-80,750. However, below 24,300/79,700 the sentiment could change below the same, we could see one quick correction up to 24,150-24,100/79,300-79,000", he said.
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Tata Motors (up by 5.97%), ONGC (up by 4.83%), BPCL (up by 3.67%), SBI Life (up by 3.62%) and Larsen and Toubro (up by 2.91%) were the top gainers during the day. On the other hand, Axis Bank (down by 5.08%), Nestle India (down by 2.50%), ICICI Bank (down by 2.14%), Titan (down by 2.11%) and Tata Steel (down by 1.75%) were amongst the leading laggards.
Except for Nifty50, 100, 200 and India VIX, all other indices closed the day in red. Notably, India VIX inched up over 7% to close the day in green. As for sectoral indices, auto inched up 1.26% during the day, while oil and gas rose over 2%. Metal shed 1.29% during the day to close in red.
Out of the 2,765 stocks traded during the day, 1,369 saw advances, while 1,318 declined, and another 78 remained unchanged. 156 stocks hit their 52-week high price today, while 12-stocks hit their lowest price during the year. 172 stocks touched the upper circuit during the day, while 44 stocks hit the lower circuit.
Aditya Gaggar, director of Progressive Shares notes that following weak global equities, Indian markets started the monthly expiry day on a tepid note with a loss of over 150 points. But, after a sharp cut, one-way recovery was seen throughout the day which supported the index limiting its losses to 7.40 points to end the session at 24,406.10.
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Shrikant Chouhan, Head Equity Research, Kotak Securities notes that for day traders now, 20 day SMA ( Simple Moving Average ) or 24,300/ 79,700 would be the sacrosanct support level. "Above the same, the market could move up to 24,500-24,650/80,500-80,750. However, below 24,300/79,700 the sentiment could change below the same, we could see one quick correction up to 24,150-24,100/79,300-79,000", he said.