1. Indian markets hit fresh record highs today with Sensex crossing the 76,000 mark intraday and Nifty crossing the 23,100 mark for the first time. However, at the close, markets closed in the red and were almost flat.
2. The decline was due to declines in energy and auto stocks
3. The Sensex index closed at 75,390 while the Nifty index closed at 22,932.
4. Top decliners were Wipro, NTPC, Sun Pharma, M&M, ITC and RIL (all down 2.3%).
5. Top gainers are IndusInd Bank, Axis Bank, Bajaj Finance and HDFC Bank
6. India VIX rose 6.8% today. The volatility index has risen almost 90% in the past one month.
7. Cochin Shipyard closed 3.1% higher after it reported a multi-fold jump in consolidated net profit to Rs 2,588.8 crore for the fiscal year ending March 2024 on higher revenue.
8. Shares in Divi Laboratories also jumped more than 3% after the company reported a nearly 68% increase in net profit for the March period.
9. Sectorally, Nifty Media, Metals, Oil & Gas ended down 0.5-1% while Nifty Banking, Financial Services, IT, Real Estate and Consumer Durables ended up higher.
10. UK and US markets were closed on Monday. Global stocks rose as investors anticipated the release of inflation data that could lead to interest rate cuts in Europe next week and easing of US policy within months. MSCI’s broadest stock index rose 0.2%.
Oil prices were little changed. July Brent crude rose 21 cents to $82.33 a barrel, while U.S. West Texas Intermediate (WTI) crude futures rose 23 cents to $77.95. The Indian rupee weakened slightly to close at 83.13 against the U.S. dollar on dollar demand.
