Market Mogul Daily: Comprehensive Analysis of Indian Stock Market on 18th July 2024
The Indian stock market experienced a highly dynamic trading day on 18th July 2024, marked by a blend of volatility and optimism. Major indices like Nifty and Sensex achieved new milestones, closing at record highs due to significant buying in heavyweight stocks. However, the mid-cap and small-cap segments witnessed a decline, reflecting a mixed sentiment among investors. Key Indices Performance • Nifty: Closed at 24,801, up by 187 points (0.8%), recovering from an intraday low of 24,504. • Sensex: Surged by 626 points (0.8%) to close at 81,343, marking a historic high above the 81,000 level. Sectoral Highlights IT and FMCG Sectors • IT Sector: The Nifty IT Index rose by 2%, bolstered by impressive Q1 results from tech giants like LTI Mindtree, TCS, Infosys, Tech Mahindra, and Wipro, each gaining between 2-3%. • FMCG Sector: The Nifty FMCG Index increased by 1%, with notable gains from Marico, ITC, Hindustan Unilever, and Tata Consumer Products, which ...