Sensex and Nifty end in green

16 Jul 2024 , 04:34 PM

The Indian stock market extended its winning streak for the third consecutive session on July 16, with benchmarks hitting new record highs due to strong buying in IT, realty, and FMCG stocks.

At the close, the Sensex gained 51.69 points, or 0.06%, reaching 80,716.55, while the Nifty rose 26.30 points, or 0.11%, to 24,613. The market will be closed on July 17 (Wednesday) in observance of Muharram.

The Indian equity indices started positively and continued to gain momentum throughout the first half of the session, reaching new milestones. However, selling pressure in the second half reduced most of the gains, resulting in only marginal increases by the end of the day.

Top gainers on the Nifty included Coal India, BPCL, HUL, Tata Consumer Products, and Bharti Airtel. The top losers were Shriram Finance, Dr Reddy’s Labs, Kotak Mahindra Bank, UltraTech Cement, and Reliance Industries.

The Realty index saw a significant rise of 1.6%, while the FMCG, IT, Metal, and Telecom sectors increased by 0.3-0.9%. In contrast, the Media index dropped by 1%, and the Power and Capital Goods indices fell by 0.5% each. The BSE midcap index declined by 0.3%, whereas the smallcap index increased by 0.3%.

A total of 270 stocks reached their 52-week high on the BSE, including notable names such as HUL, SBI Life Insurance, Infosys, Britannia Industries, ONGC, Godrej Properties, Oracle Financial Services, IGL, Castrol, Torrent Pharma, Lupin, Colgate Palmolive, LIC Housing Finance, Petronet LNG, and Jubilant FoodWorks.