Partner With Us NRI

Indices trade near flat line; IT shares rally for 4th day

Published on Jul 02, 2024 12:32

The headline equity benchmarks traded near the flat line with small gains in early afternoon trade. The Nifty traded near the 24,150 mark after hitting the day�s low of 24,073.65 in morning trade. IT shares extended gains for the fourth consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex was up 38.64 points or 0.05% to 79,527.83. The Nifty 50 index rose 5.00 points or 0.03% to 24,148.85.

The Sensex and Nifty clocked an all-time high of 79,855.87 and 24,236.35, respectively in early trade.

In the broader market, the S&P BSE Mid-Cap index shed 0.42% and the S&P BSE Small-Cap index rose 0.22%.

The S&P BSE Mid-Cap and S&P BSE Small-Cap index hit an all-time high at 46,869.53 and 53,297.26, respectively.

The market breadth was positive. On the BSE, 2,080 shares rose and 1,707 shares fell. A total of 125 shares were unchanged.


The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, declined 1.62% to 13.61. The Nifty 25 July 2024 futures were trading at 24,228.80, at a premium of 79.95 points as compared with the spot at 24,148.85.

The Nifty option chain for the 25 July 2024 expiry showed maximum Call OI of 37.1 lakh contracts at the 24,000 strike price. Maximum Put OI of 41.2 lakh contracts were seen at 23,500 strike price.

Buzzing Index:

The Nifty IT index added 1.67% to 37,483.95. The index rallied 5.86% in the fourth consecutive trading session.

Coforge (up 3.5%), Wipro (up 2.97%), Infosys (up 2.32%), Mphasis (up 2.09%), Tech Mahindra (up 1.48%), were LTIMindtree (up 1.42%), HCL Technologies (up 1.36%), Tata Consultancy Services (up 0.8%), L&T Technology Services (up 0.7%) and Persistent Systems (up 0.4%) edged higher.

Stocks in Spotlight :

Eicher Motors declined 0.23%. The company informed that it has sold 73,141 motorcycle units in June 2024, which is lower by 5% as compared with 77,109 units in June 2023.

TVS Motor Company fell 0.17%. The firm has recorded monthly sales of 333,646 units in June 2024 with a growth of 5% as against 316,411 units in the month of June 2023.

Hero MotoCorp shed 0.05%. The two-wheeler major sold 5,03,448 units of motorcycles and scooters in June 2024, which is higher by 15.20% as compared with sales of 4,36,993 units recorded in June 2023.

TD Power Systems rallied 2.31% after the company announced that it has received an order amounting to $9.28 million for gas turbine generators from a major US original equipment manufacturer.

Powered by Capital Market - Live News