On July 4, benchmark indices Nifty and Sensex shed almost all gains to end the day marginally higher in a choppy trading session. Top Gainer: TATAMOTORS | Top Loser: HDFCBANK

Liquide Post-Market Summary 4th July 2024

On July 4, benchmark indices Nifty and Sensex shed almost all gains to end the day marginally higher in a choppy trading session. A rally in IT stocks, along with supportive global cues and hopes of a positive budget, kept the indices in the green today.

Among sectors, the pharma and healthcare indices edged higher, each gaining over 1%. Major names in the pharma sector, including Lupin, Sun Pharma, and Zydus Life, saw the biggest up moves during the session. Conversely, FMCG slipped the most, down 0.2%, while infra and metal indices ended marginally lower.

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NIFTY:  The index opened 83 points higher at 24,369 and made a high of 24,401 before closing at 24,302. Nifty has formed a small bearish candle on the daily chart. Its immediate resistance level is now placed at 24,350 while immediate support is at 24,230.

BANK NIFTY: The index opened 268 points higher at 53,357 and closed at 53,103. Bank Nifty has formed a shaved head hammer candlestick pattern on the daily chart. Its immediate resistance level is now placed at 53,300 while support is at 52,800.

Indices closing for 4th July 2024
Major Market Indices data
Nifty Gainers & Losers

Stocks in Spotlight

▪  Cello World: Stock gained 2% after the company launched a qualified institutional placement (QIP) to raise Rs 730 crore.

▪  ITD Cementation: Stock fell 14% after the company's promoter Italian Thai Development Public stated plans of exploring potential divestment of stake.

▪  Inox Wind: Stock skyrocketed over 13% after the company informed that it has received a Rs 900-crore capital infusion from promoter Inox Wind Energy Limited (IWEL).

Global News

▪  European stocks were higher for a second straight session on Thursday, regaining some momentum as the U.K.’s general election draws focus in the region.

▪  Asia-Pacific markets mostly rose as Japan’s major indexes as well as Taiwan’s benchmark hit all-time highs.

▪  Crude oil prices traded lower on Thursday after gaining a percent in the previous session. Brent crude futures fell 0.39% to $87 a barrel, while US West Texas Intermediate (WTI) crude futures declined 0.42% to $83.53.

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