The market closed flat due to slowness in the stock market and weak global signals; Sensex slipped 0.50% from upper level

Share Market Closing Update 16th July: The Indian stock market closed flat in Thursday’s trading session due to weak global cues amid rising tensions in West Asia. Meanwhile, Nifty 50 fell 5.75 points or 0.02 per cent and closed at 24,072.75. At the same time, Sensex increased by 1.44 points and closed at 77,186.87. In the day’s trading, the Sensex opened at 77,388.42 with a rise of 203 points or 0.26 percent from its previous close of 77,185.43 and at one time it had reached the day’s high of 77,579.69 with a rise of 394.26 points or 0.51 percent. That means it fell by 392.82 points or 0.50 percent from the day’s high.

Nifty 50 opened at 24,142.10 with a rise of 0.26 percent from its previous close of 24,078.50 and during the day’s trading it reached an intra-day high of 24,186.50 with a jump of 108 points or 0.44 percent. That means it fell 114 points from the day’s highest level. Meanwhile, about 1,947 shares advanced, 2,119 shares declined and 194 shares remained unchanged.

Condition of midcap and smallcap

In broader markets, midcaps and smallcap index The performance was below expectations. The Nifty Midcap 100 index fell 0.41 per cent, while the Smallcap 100 index declined 0.10 per cent. The major indices remained on the rise throughout the day, but saw profit-booking in the second half, leading to their fall. Among sectoral indices, Nifty Consumer Durables emerged as the top performer, gaining 1.48 per cent, followed by Nifty Media (1.18 per cent), Nifty IT (0.67 per cent) and Nifty Auto (0.46 per cent). Apart from this, Nifty FMCG registered a marginal gain of 0.25 per cent and Nifty Pharma registered a marginal rise of 0.02 per cent.

Today’s Top Gainers and Losers

While on the contrary, Nifty Realty was the worst performing sector, falling 0.98 per cent. Along with this, Nifty PSU Bank declined by 0.46 per cent, followed by Nifty Metal (-0.33 per cent), Nifty Private Bank (-0.31 per cent) and Nifty Bank (-0.30 per cent). In the Nifty 50 index, shares of HCL Tech, IndiGo, Wipro, Maruti, Bajaj Finance and M&M were among the top gainers, while on the contrary, shares of Eternal, SBI Life, Bajaj Finserv, BEL and HDFC Bank were among the top losers.

Expert opinion regarding the market

A market expert said that investors are keeping in mind geopolitical uncertainties, fluctuations in crude oil prices and Asian markets Looked alert due to weak signals. The impact of concerns regarding inflation was seen on financial and realty stocks. However, the chemical sector performed well on the back of reimposition of import duty on select petrochemical products and better quarterly results.

Also read: ICICI Lombard: Huge fall in ICICI Lombard shares, stock fell by 15% after quarterly results.

At the same time, due to lower than expected inflation figures in America, the fears of increasing interest rates were reduced, which supported the market at lower levels. Going forward, investors will keep an eye on the quarterly results of the companies, the future strategy of the management (management commentary) and the progress of monsoon. Apart from this, global developments and inflation related signals will also play an important role in deciding the direction of the market in the coming times.