Markets ends higher, snap two-day losing streak

Benchmark indices closed higher on Monday, snapping its two days of losses, as global authorities took steps to contain the banking turmoil, helping dispel some of the contagion fears. 

The Nifty 50 index closed 0.24% higher at 16,985.70, and the S&P BSE Sensex was up 0.22% to 57,653.86. The benchmarks rose nearly 1% in intraday trade before trimming gains in a volatile session. 

Volatility index (VIX) rose to an intraday high of 16.09 before closing at 15.45, a one-week high.

Among sectoral indices, five of the 13 major sectoral indexes advanced, with Nifty Pharma leading gains with a 1% increase. The Nifty Bank closed flat after trading in a range of more than 400 points, power stocks slipped on concerns related to demand and diagnostic stocks moved higher as COVID cases rose, with Metropolis up over 2 per cent.

ICICI Bank and Axis Bank were among the top draggers for Nifty, while Reliance, Infosys, and HUL supported the index.

Meanwhile, the market capitalization of BSE companies slipped to the lowest level since July 15, 2022 with these companies in total, erasing market cap of more than Rs 1.20 lakh crore.
 

Top stories
Company

Delta Corp Q1 PAT Declines 68% YoY to Rs 22 crore in FY25

4 mins read . 13 Jul 2024 . 09:30 AM

Company

Zydus Life Gets USFDA Nod for Heart Failure Drug

3 mins read . 13 Jul 2024 . 09:23 AM

Company

RVNL Spurts 10% on Bagging Multiple Orders Worth Rs 390 Cr

4 mins read . 13 Jul 2024 . 09:18 AM

Related Blogs
blog-logo

Share Market

blog-logo

12 mins read . 12 Jul 2024

Ritesh Agarwal: The OYO Founder’s Success Story

  • 0 people read
blog-logo

Share Market

blog-logo

15 mins read . 08 Jul 2024

Best Oil & Gas Stocks in India

  • 0 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions