Market Wrap, July 1: NIFTY50 ends above 24,000, SENSEX rises 444 points led FMCG, auto stocks; Eternal top gainer

The Indian stock market snapped its two-day losing streak to end higher on Wednesday, July 1, supported by strong gains in FMCG, auto, and realty stocks.

Auto stocks rallied following sales numbers from carmakers. In the last three months, the NIFTY Auto has significantly outperformed the benchmark NIFTY50 index.

According to exchange data, on Tuesday, the foreign institutional investors (FIIs) sold shares worth ₹2,556.75 crore, while the domestic institutional investors (DIIs) bought equities worth ₹6,842.34 crore on a net basis.

Globally, most of the Asian markets ended higher following the strong closing of US markets. Japan's Nikkei rose 0.92%, China's Shanghai Composite advanced 0.44% while Hong Kong's Hang Seng index declined 0.64%.

On Wall Street, the US stocks ended higher on Tuesday on the back of stronger-than-expected US job openings data which showed resilience in the US economy.

Dow Jones Industrial Average advanced 0.26%, S&P 500 index gained 0.8% and tech heavy Nasdaq climbed 1.5%.

Here are the key developments of Wednesday's session that you need to know

As many as 3,425 stocks traded on the NSE on Wednesday. Out of these, 1,852 advanced and 1,473 stocks declined, while 100 scrips remained unchanged.

This indicated that the market breadth was in favour of advances.

A total of 137 stocks hit their 52-week highs, while 54 stocks touched their one-year lows. Besides, 119 stocks hit their upper circuit limits, and 84 touched their lower circuit bands on Wednesday.

The market capitalisation of NSE-listed firms stood at ₹476.58 lakh crore at the close of the session.

India VIX, the volatility gauge, stood at 13.24 levels, declining 2.62%.

The broader market also closed the session positive, with the Nifty Midcap 100 rising 0.34% to settle at 62,008.80, while the Nifty Smallcap 100 rose 0.36% to end at the 18,931.05 level.

Among sectors, NIFTY Realty took the lead among gainers, surging 3.58%, followed by NIFTY FMCG (2.08%), NIFTY Media (2.07%), NIFTY Auto (1.15%) and NIFTY PSU Bank (0.99%).

Meanwhile, NIFTY IT (-2.01%) slipped the most, while NIFTY Metal (-0.99%) and NIFTY Pharma (-0.57%) were the other sectoral losers.

On the NIFTY50 index, 33 stocks closed higher, while 17 declined by the end of the session.

Eternal surged 5.82% and was the biggest contributor. Adani Enterprises (3.52%), Nestle India (3.4%), Asian Paints (3.01%) and Hindustan Unilever (-1.31%) were the other top gainers.

On the other hand, HCL Technologies (-3.4%), Tech Mahindra (-3.18%), Tata Consultancy Services (-2.45%), Hindalco Industries (-1.8%) and Tata Steel (-1.63%) were the biggest laggards on the 50-share index.