Closing Bell: Sensex Gains Points, BankNifty Closes Higher, Nifty Above Key Levels; IT Sector Leads Rally

Date:

Share post:

The Indian stock market ended on a positive note today, with major indices closing higher. The Sensex showed significant gains, while BankNifty also closed in the green. The Nifty 50 index moved above key levels, led by a strong rally in the IT sector.

Market Highlights

  • Sensex: The Sensex closed at 66,512.15, gaining 186.20 points (0.77%). This positive movement was driven by robust buying in IT and FMCG stocks.
  • Nifty 50: The Nifty 50 ended the day at 24,502.15, up by 186.20 points (0.77%). The index saw a steady rise throughout the trading session.
  • Nifty Bank: The Nifty Bank closed at 52,278.90, a slight increase of 8.25 points (0.02%). Banking stocks remained relatively flat but managed to close in the green.
  • Fin Nifty: Fin Nifty closed at 23,604.40, up by 4.95 points (0.02%). Financial stocks showed minimal movement but contributed to the overall positive sentiment.
  • India VIX: The volatility index, India VIX, decreased by 0.27 points (-1.93%) to close at 13.73. This indicates a reduction in market volatility.

Sectoral Performance

  • IT Sector: The IT sector led the rally, with the Nifty IT index closing at 39,023.00, up by a significant 1,690.40 points (4.53%). Major IT stocks like TCS, Infosys, and Wipro saw substantial gains, driven by positive quarterly results and strong earnings outlook.
  • Nifty Midcap: The Nifty Midcap index closed at 12,459.60, rising by 35.45 points (0.29%). Midcap stocks showed resilience, contributing to the broader market gains.
  • Nifty Small Cap 50: The Nifty Small Cap 50 ended at 8,774.85, gaining 39.10 points (0.45%). Small-cap stocks performed well, indicating investor confidence in smaller companies.
  • Nifty FMCG: The Nifty FMCG index rose by 209.05 points (0.35%) to close at 59,725.75. FMCG stocks were among the top gainers, supported by strong demand and positive earnings reports.
  • Nifty Pharma: The Nifty Pharma index closed at 20,612.65, up by 10.95 points (0.05%). Pharma stocks showed modest gains, with investors remaining cautious.
See also  Indian Stock Market Live Update: for July 18, 2024 Nifty Opens -0.28%, Nifty Bank -0.35%, Asian Paints Top Loser

Mixed Performance in Other Indices

  • Nifty Next 50: The Nifty Next 50 saw a decline, closing at 73,732.10, down by 327.10 points (-0.44%). Some profit booking was observed in this segment.
  • Nifty Mid Cap 50: The Nifty Mid Cap 50 closed slightly lower at 15,954.90, down by 11.25 points (-0.07%).
  • NIFTY 100: The NIFTY 100 index ended at 25,577.30, gaining 143.55 points (0.56%).
  • NIFTY 500: The NIFTY 500 index closed at 23,095.45, up by 90.20 points (0.39%).
  • NIFTY Midcap 100: The NIFTY Midcap 100 ended at 57,173.80, gaining 25.55 points (0.04%).
  • NIFTY Smallcap 100: The NIFTY Smallcap 100 closed at 18,949.05, up by 29.40 points (0.16%).
  • NIFTY Auto: The NIFTY Auto index declined, closing at 25,145.45, down by 111.80 points (-0.44%). Auto stocks saw some selling pressure.
  • NIFTY Private Bank: The NIFTY Private Bank index closed at 26,146.80, up by 17.55 points (0.07%).
Closing Bell: Sensex Gains Points, BankNifty Closes Higher, Nifty Above Key Levels; IT Sector Leads Rally
Closing Bell: Sensex Gains Points, BankNifty Closes Higher, Nifty Above Key Levels; IT Sector Leads Rally(image by moneyphobia)
Nikhil Kumar Jha
Nikhil Kumar Jhahttp://moneyphobia.in
I a finance writer with 2+Year of Exp in financial topics. With BBA in Finance degree, content writer, SEBI-certified investor, and stock market enthusiast.

Related articles

Unitech Scam: Promoters Took Nearly ₹7,800 Crore From Homebuyers, ED Says

The Enforcement Directorate (ED) just dropped a bomb. Promoters of Unitech Group, one of India’s once-famous real estate giants,...

SEBI Chief Sends Strong Message: No Place for Market Manipulation

SEBI Chairman Tuhin Kanta Pandey didn’t hold back during his speech in Mumbai on July 5. While talking...

Mahindra XUV 3XO: Full Details of the New Compact SUV Lineup (ICE, EV, Hybrid)

Mahindra has introduced the updated XUV 3XO in India and now in international markets like Australia. This compact...

BEML Bags USD 6.23 Million Orders for Mining Equipment from CIS Region

Big news for BEML Limited. The Indian equipment maker just scored two major export orders worth USD 6.23...