The Nifty 50 crossed the 24,600 mark for the first time ever, Sensex rose by 145 points or 0.18% to reach 80,664, while the Nifty 50 increased by 81 points or 0.33% to settle at 24,583. The market breadth favoured gainers with around 1,821 shares advancing, 1,798 shares declining, and 103 shares remaining unchanged.
The day’s trading also saw India VIX, which measures near-term volatility, tick up by nearly 3% to settle at 14.11.
Impact on the stock market
The Nifty PSU Bank index emerged as the standout performer, rising over 3% due to gains in stocks like SBI, Indian Overseas Bank, Maharashtra Bank, and Canara Bank. The Nifty Auto and Nifty Realty indices also performed well, each rising over a percent.
The Nifty IT index lagged behind, weighed down by profit-booking in TCS, Infosys, and Tech Mahindra shares. Broader market indices like the BSE Midcap and BSE Smallcap also saw gains, with the Midcap index outperforming the benchmarks by rising up to a percent, and the Smallcap index gaining by 0.2%.
Also read: Tcs q1 results 2024
| Sector/Index | Performance |
| IT & BPM sector | -0.29% |
| Healthcare sector | 1.28% |
| Oil & Gas sector | 1.99% |
| Real estate sector | 1.34% |
| PSU Bank in India | 3.07% |
Top gainers today
| Company | Price | Change (%) |
| ONGC share price | 322.50 | 5.01 |
| SBI Life Insurance share price | 1,613.45 | 3.24 |
| Shriram Finance share price | 2,882.30 | 3.15 |
| Dr Reddys Labs share price | 6,794.75 | 3.03 |
| Bajaj Auto share price | 9,673.35 | 2.57 |
Top losers today
| Company | Price | Change (%) |
| LTI Mindtree share price | 5,478.15 | -1.70 |
| Asian Paints share price | 2,956.50 | -1.42 |
| Grasim share price | 2,803.75 | -1.41 |
| Tata Steel share price | 166.76 | -1.14 |
| Axis Bank share price | 1,307.45 | -0.75 |
Market aftermath: Impact on stocks
HDFC Life Q1 Results: Net Profit Rises to Rs 479 Crore
HDFC Life Insurance reported its Q1 FY25 results, with a net profit rising to Rs 479 crore, meeting street estimates. The net premium income for the April-June quarter increased to Rs 12,548 crore from Rs 11,508 crore in the previous year. This positive performance helped boost investor confidence in the stock.
You may also read: Fundamental analysis of HDFC bank
Jupiter Wagons Stock Jumps 4% After Rs 800 Crore QIP
Jupiter Wagons’ stock jumped by 4% after the firm raised Rs 800 crore via a qualified institutional placement (QIP). The capital raised will be used to establish a forged rail wheel and axle manufacturing plant, enhancing the company’s backward integration and long-term growth prospects.
Zen Technologies Shares Surge 5% on New Defense Product Launch
Shares of Zen Technologies Limited surged by 5% and were locked in the upper circuit after the company launched four new defence products, including the world’s lightest remote-controlled weapon station, Barbarik-URCWS. This innovation, along with other AI-powered defence products, boosted investor sentiment.
Crude oil
The global oil market also experienced notable movements. Oil prices held steady on July 15, with Brent crude futures up by 8 cents or 0.1% at $85.11 a barrel and U.S. West Texas Intermediate crude gaining 19 cents or 0.2% to $82.40.
The stronger U.S. dollar and concerns about Chinese demand weighed on oil prices, despite strong demand elsewhere and OPEC+ supply restraint and revealed a slower economic growth rate of 4.7% for the April to June quarter, the slowest since Q1 2023.
Conclusion
The Indian stock market, marked by historic highs and broad-based buying across sectors. While the Nifty 50 and Sensex saw significant gains, the market also faced challenges from sector-specific performances and global economic factors. Individual stock performances and global oil prices added to the day’s complexity. As the market moves forward, investors should remain vigilant about sectoral changes and specific stock movements, especially as the Q1FY25 earnings season unfolds and the 2024 budget approaches.
Stay tuned on StockGro for more updates on market trends.
