CHENNAI: Indian equity indices closed at fresh all-time highs on July 4, 2024, with the Nifty surpassing the 24,300 mark and the Sensex breaching the 80,000 level. The day's trading was characterised by volatility, influenced by the weekly F&O expiry and sector-specific movements.
Nifty 50 on Wednesday closed at 24,302.15, up 15.65 points (0.06%) from the previous session. While, BSE Sensex ended at 80,049.67, gaining 62.87 points (0.08%). In the overall trade on Wednesday, 1,901 stocks advanced, 1,550 declined, and 62 stocks remained unchanged.
Sectoral Performance
The top performers among the sectoral indices on Wednesday included Nifty IT (+1.0%), Nifty Pharma (+1.0%), Nifty Auto (+0.5%), and Nifty Realty ( +0.5%). And, the sectors that lagged were Nifty FMCG (-0.21%), Nifty Media (-0.4%).
While, BSE MidCap and BSE SmallCap moved up 0.6%. Both indices outperformed the benchmark Nifty, reflecting robust investor interest in mid and small-cap stocks.
Market Outlook
The Indian stock market continues its upward trajectory, driven by strong performances in the IT and pharmaceutical sectors. However, caution is advised as certain financial stocks exhibit weakness. Investors are recommended to monitor sectoral trends and individual stock performances closely.