ET NOW CLOSING BELL: RIL BULLS AND HDFC BANK BEARS LOCK HORNS AS SENSEX, NIFTY END FLAT
Stock Market Closing Bell: Benchmark equity indices closed flat on Friday amid profit-taking after a record rally in the last few trading sessions. While index heavyweight Reliance Industries was the top gainer during today's trade, HDFC Bank emerged as the top loser.
The 30-share BSE Sensex dropped 53.07 points or 0.07 per cent to close at 79,996.60. The NSE Nifty gained a meager 21.70 points or 0.09 per cent to settle at 24,323.85.
On the sectoral front, the Nifty Bank index that tracks the banking sector comprising of 12 banking stocks, fell 443.35 points or 0.83 per cent to end the session at 52,660.35.
From the broader market, the Nifty Midcap 100 and Smallcap 100 indices inched 0.83 per cent and 0.79 per cent, respectively, higher.
Top Gainers, Losers
Among the 30 Sensex companies, RIL was the top mover, ending 2.50 per cent higher. SBI, NTPC, HUL, L&T, Nestle India, Power Grid, ITC, JSW Steel and Sun Pharma were other major gainers. On the other hand, HDFC Bank cracked around 4.50 per cent after weaker-than-expected April-June quarter (Q1FY25) business update. Titan, Mahindra & Mahindra, IndusInd Bank, Tata Steel, Tata Motors, UltraTech Cement and Infosys were other major laggards. HDFC Bank, RIL and SBI were volume toppers.
"The domestic market traded with a mixed bias, with the heavy-weight banking sector acting as a laggard. Adding to the worry are the top lending banks, which recorded a sequential decline in deposit growth in the June quarter. While Midcap and Small Cap outperformed and the respective BSE indices hit an all-time high. Globally, investors now await the US non-farm payroll data to be released later today to gauge the trajectory of the US Fed’s potential rate cuts," Vinod Nair, Head of Research, Geojit Financial Services, said.
Earlier on Thursday, Sensex scaled an intraday record high of 80,392.64 in early trade. Later, the Sensex closed 62.87 points or 0.08 per cent higher at 80,049.67, its all-time closing high.
The broader Nifty also hit an intra-day record high of 24,401 in early trade before closing almost flat. The 50-issue index rose by 15.65 points or 0.06 per cent to settle at a record 24,302.15.
Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday, as they purchased shares worth Rs 2,575.85 crore, according to exchange data.
2024-07-05T10:31:44Z dg43tfdfdgfd