Friday, July 5, 2024
Indian equity markets closed flat on Friday, July 5, 2024, after a volatile trading session. The benchmark indices, the BSE Sensex and the Nifty50, ended the day with marginal gains, despite facing pressure from heavyweight stocks like HDFC Bank, Titan Company, Tata Steel, and M&M.
The Sensex opened lower at 79,479 and touched an intraday low of 79,479 before recovering to close at 79,997, a loss of 53 points or 0.07%. Similarly, the Nifty50 opened at 24,169 and fell to an intraday low of 24,169 before ending the day at 24,324, a gain of 21 points or 0.09%.
Reliance Industries emerged as the top gainer, contributing significantly to the Sensex and Nifty's recovery. Its shares surged by 2.58%, followed by SBI (2.5%), NTPC (1.9%), HUL (1.89%), L&T (1.3%), and Nestle India (1.2%).
On the flip side, HDFC Bank, Titan Company, M&M, Tata Steel, and Tata Motors weighed heavily on the indices. HDFC Bank witnessed the most significant decline, falling by 4.4%.
Despite the flat closing of the benchmark indices, the BSE MidCap and SmallCap indices continued their upward trajectory, hitting record highs during intraday trading. They closed the day 0.7% higher each.
Sectoral performance was mixed. The Nifty Private Bank, Financial Services, and Bank indices fell by 1% each, while the Nifty FMCG, Pharma, and PSU Bank indices gained more than 1% each.