The Sensex breached 80,000 for the first time, hitting a record high of 80,074.3, while the Nifty 50 reached a new peak of 24,309.15. The Sensex closed 545 points higher at 79,986.80, a gain of 0.69%, and the Nifty 50 ended 163 points up at 24,286.50, a rise of 0.67%.
Market capitalisation on the BSE surged from nearly ₹442.2 lakh crore to approximately ₹445.6 lakh crore, resulting in investors gaining over ₹3 lakh crore in a single session.
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Impact on the stock market
Except for the media sector(-0.39%), all other sectoral indices closed higher.
Power, capital goods, banking, and metal sectors each rose 1-2% during the trading session.
| Sector/Index | Performance |
| Information Technology | +0.04% |
| Healthcare | +0.76% |
| Oil & Gas | +0.03% |
| Realty | +0.33% |
| PSU Banks | +1.06% |
Top gainers today in share market
| Company | Price | Change (%) |
| TATA Consumer Products share price | 1,146.35 | +3.74% |
| Adani Ports share price | 1,510.65 | +2.43% |
| Kotak Mahindra share price | 1,810.70 | +2.32% |
| HDFC Bank share price | 1,768.65 | +2.20% |
| Axis Bank share price | 1,280.00 | +2.12% |
Top losers today in share market
| Company | Price | Change (%) |
| TCS share price | 3,965.25 | -1.30% |
| Titan Company share price | 3,360.25 | -1.16% |
| Reliance share price | 3,104.85 | -0.81% |
| Tata Motors share price | 975.65 | -0.58% |
| Hindalco share price | 691.65 | -0.45% |
Market aftermath: Impact on stocks
IREDA stock soars 7% to record high
IREDA stock surged 7% to a record high of ₹224.6 on July 3, trading 581% above its IPO issue price of ₹ 32. The stock has jumped 107.50% year-to-date.
High volumes were noted, with 1.37 million shares traded on NSE and a previous session block deal of 50 lakh shares worth ₹ 100 crore. Last week, 89.2 lakh shares worth ₹ 189.4 crore changed hands at ₹ 213 per share. IREDA plans an FPO to raise ₹ 4,000-5,000 crore.
V-Mart hits 52-week high
V-Mart shares rose over 5% to a 52-week high of ₹3,080 on Wednesday after reporting a 16% YoY increase in Q1FY25 operating revenue to ₹786 crore. V-Mart’s revenue grew 17% YoY to ₹774 crore, while LimeRoad’s revenue declined 29% YoY to ₹12 crore.
Same-store sales grew 11% YoY, with V-Mart up 12% and Unlimited up 8%. The company opened seven new stores, totaling 448 stores by June 30, 2024. Shares have surged nearly 51% YTD and 33% in the past year.
Also Read: Bajaj Auto’s sales surge: A 5% leap in June 2024
Wockhardt shares surge nearly 40% in 5 days
Wockhardt’s stock soared approximately 40% over five sessions, hitting a 52-week high of ₹ 943 on July 3. Two antibiotics, Nafithromycin and Zaynich, nearing launch, offer a significant revenue opportunity.
The company targets a market size of hundreds of crores for Nafithromycin by FY25 and anticipates entering a $1.5 billion market with Zaynich by FY26.
Crude oil futures trade higher
Crude oil futures rose on Wednesday as US inventory data showed a significant decline. September Brent oil futures climbed to $86.74, up 0.58%, while August WTI futures reached $83.25, up 0.53%.
On the Multi Commodity Exchange (MCX), July crude oil futures traded at ₹6,954, a 0.07% increase from the previous close, with August futures at ₹6,899, up 0.22% from ₹6,884.
Conclusion
In summary, July 3 marked a historic day for the Indian stock market as the Sensex surpassed 80,000 and the Nifty 50 reached a new peak, driven by robust investor sentiment and positive economic indicators.
Stocks like IREDA and V-Mart surged to record highs on strong financial performances, while Wockhardt saw significant gains amid promising pharmaceutical developments. Crude oil futures also rose on favourable US inventory data.
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