Stock market today: Sensex, Nifty 50 end flat; IT, banking stocks shine
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The Indian stock market closed flat on July 13, with the Sensex gaining 47 points and the Nifty 50 up by 4 points, supported by gains in IT and banking sectors despite rising crude oil prices due to escalating tensions in the Middle East. Notable gainers included Infosys and TCS, while HDFC Bank and Reliance Industries weighed on the indices. Overall market capitalization increased slightly, with many stocks reaching 52-week highs amid mixed performance across sectors.
Stock market today: Frontline indices, the Sensex and the Nifty 50, ended flat on Monday, 13 July, thanks to gains in select IT and banking heavyweights, while crude oil prices remained elevated amid escalating tensions in the Middle East.
As per media reports, Iran has escalated attacks across the Gulf after the US expanded strikes on the Middle Eastern country. Tensions in the region raised concerns about energy shipments through the vital Strait of Hormuz, driving Brent crude prices up by 3%.
The Sensex fell more than 700 points at one point during the session, but erased all losses to end 47 points, or 0.06%, higher at 77,616.40. The NSE counterpart Nifty 50 closed the day with a minor gain of 4 points, or 0.02%, at 24,211.
Infosys, TCS, HCL Tech, and Kotak Mahindra Bank provided the biggest support to the Sensex, whereas HDFC Bank, Reliance Industries, and Bharti Airtel exerted the greatest downward pressure on the index.
Broader markets also mirrored the trend in the benchmarks, with the Nifty Midcap 100 and Smallcap 100 indices ending flat.
The overall market capitalisation of BSE-listed firms rose to over ₹482 lakh crore from ₹481.75 lakh crore in the previous session.
Out of 50 stocks in the Nifty index, 29 declined while the rest ended higher.
Grasim Industries, Tata Steel, Nestle India, Eternal, and InterGlobe Aviation (IndiGo) ended as the top laggards in the index. On the other hand, TCS, HCL Technologies, Infosys, Tech Mahindra, and Bajaj Auto ended as the top gainers in the index.
The Nifty IT index surged 3.59%, with all stocks ending in the green, rising between 1-5%. Nifty Media also closed with a healthy gain of 2.09%. Nifty Consumer Durables rose by 1.15%.
Nifty Bank, PSU Bank and Private Bank indices ended 0.15%, 0.11%, and 0.25% higher, respectively.
On the other hand, Nifty FMCG fell 1%. The Metal pack also declined by 0.69%.
PC Jeweller, Vodafone Idea, Kalyan Jewellers India, Vedanta Iron and Steel, Motisons Jewellers, and Cupid were the most traded stocks in volume on the NSE.
As many as 185 stocks, including Federal Bank, JSW Infrastructure, FSN E-Commerce Ventures (Nykaa), Oracle Financial Services Software (OFSS), One 97 Communications (Paytm), The Phoenix Mills, and Torrent Pharmaceuticals, hit their 52-week highs in intraday trade on the BSE.
On the other hand, some 78 stocks, including Elitecon International, National Standard (India), and TechNVision Ventures, hit their 52-week lows in intraday trade on the BSE.
(This is a developing story. Please check back for fresh updates.)
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