Business Economy


Stock Markets give up sharp morning gains, Sensex sheds 130 points

New Delhi, Jul 15 (UNI) The Indian Stock Markets on Wednesday ended marginally lower after giving up most of their sharp morning gains.
At close, Sensex rose 130 points, or 0.17%, to close at 77,185.43, while the Nifty 50 ended at 24,078.50, rising 26 points, or 0.11%.
The overall market capitalisation of BSE-listed firms rose to Rs 481 lakh crore from Rs 479.5 lakh crore in with investors wealth grew by about Rs 1.5 lakh crore.
Among the sectors, the ones ending with healthy gains were Nifty PSU Bank was up 0.95%, Consumer Durables up by 0.73%, and Oil and Gas up by 0.69%, Nifty Bank climbed 0.51%, while the Financial Services index rose by 0.59%.
On the losing end were Nifty Metal cracked by 1.11%. IT, FMCG, Media, and Realty indices fell 0.67%, 0.49%, 0.46%, and 0.38%, respectively.
Indian rupee closed at 96.2550 per dollar against its previous session close of 96.20.
On Nifty, the top gainers were UltraTech Cement, Eternal, and HDFC Life Insurance Company, while Hindalco Industries, Power Grid Corporation of India, and Tata Steel ended as the top laggards in the index.
Shares of cement companies like UltraTech Cement, Ambuja Cements, Shree Cement and other cement rose up to 3 percent.
UltraTech Cement rose 3 percent, while Shree Cement gained 2.5 percent and Ambuja Cements advanced 1.4 percent.
Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities on Rupee said, "Rupee traded largely flat near 96.25, as the Dollar Index slipped below $101 after softer-than-expected US CPI data, providing some relief to emerging market currencies. However, persistent FII outflows and elevated crude oil prices continued to keep the domestic currency under pressure, limiting any meaningful recovery."
"While the softer dollar offered temporary support, higher energy prices remain a key concern for India's import bill and the rupee's outlook. Market participants will continue to track foreign fund flows, crude oil movement, and upcoming US economic data for further direction. Technically, the rupee is expected to trade in the 95.75–96.45 range in the near term," he added. UNI VK SAS
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