Sensex closes above 80K for the first time, both indices close with marginal gain
Jul 04, 2024
Mumbai (Maharashtra) [India], July 4 : The BSE Sensex continued its upward trajectory on Thursday, maintaining the rally and closing above the significant 80,000 mark.
This sustained bull run saw both major indices achieving new highs during the session. Specifically, the Nifty index closed at 24,302 points, reflecting a marginal gain of 15 points from the previous close. Meanwhile, the BSE Sensex advanced by 62 points to settle above the 80,000 threshold at 80,049 points.
"The market sentiment was influenced by a positive bias in the rupee against the US Dollar, supported by weaker US economic data and increased global risk appetite. However, gains were capped by elevated crude oil prices. Investor caution prevailed ahead of the US non-farm payrolls report due the following day" said Varun Aggarwal, MD, Profit Idea.
In the broader market context on the National Stock Exchange, all indices, except the Nifty Small Cap 50, recorded gains. However, sectoral indices presented a mixed performance. Nifty Financial Services, Nifty FMCG, Nifty Media, Nifty Metal, and Nifty Consumer Durables all closed with declines.
Among the top performers in the Nifty 50 index for the day were Tata Motors, HCL Tech, ICICI Bank, Sun Pharma, and TCS. On the flip side, the top losers included HDFC Bank, Bajaj Finance, Adani Enterprises, Wipro, and Tech Mahindra.
Market breadth indicated a positive trend, with a total of 2,788 stocks opening for trade on Thursday. By the close of the session, 1,527 stocks had advanced, 1,175 had declined, and 86 remained unchanged.
According to the data from the National Securities Depository Limited (NSDL), the investment in the Indian markets continued to appear promising in the current month. Within the first three days of July, Foreign Institutional Investors (FIIs) have invested a net amount of Rs 3,057 crore and the Domestic Institutional Investors (DIIs) have also infused Rs 3,641.25 crore.
This dual support from both domestic and foreign investors has played a significant role in fostering the prevailing bullish sentiment in the market. The combined inflows from FIIs and DIIs have contributed to the market's strong performance, highlighting the positive outlook among investors regarding the Indian economy's prospects.
