Market Wrap, July 1: NIFTY50 holds 25,500 level in rangebound session, Sensex rises 91 points; Apollo Hospitals, BEL top contributors

The Indian stock market closed positive amid a rangebound session on Tuesday, July 1, tracking global cues and gains in the PSU banking stocks.

The broader market settled mixed, with the midcap gauge advancing with marginal gains. Rallies in the heavyweight stocks like Apollo Hospitals, Bharat Electronics and Reliance Industries contributed to the indices.

The Bank Nifty advanced 0.26% to 57,459.45 levels, led by gains in IDFC First Bank, Federal Bank and AU Small Finance Bank.

According to exchange data, on Monday, the foreign institutional investors (FIIs) sold equities worth ₹831.50 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹3,497.44 crore worth of equities.

On the global front, Asian stocks gained on Tuesday on US trade deal optimism. However, Tokyo's Nikkei slipped after US President Donald Trump threatened to impose a fresh tariff rate on Japan.

Japan’s Nikkei 225 ended 1.25% lower at the 39,986.33 level, while the Shanghai Composite gained 0.39% to close at the 3,457.75 level. South Korea’s Kospi index rose 0.58% to settle at 3,089.65.

In the US, Wall Street's main indices extended their record-breaking run for a second straight session on Monday on hopes US trade negotiations with key partners would continue to progress.

The S&P 500 and Nasdaq reached record closing highs on Monday, capping their best quarter in over a year. The S&P 500 gained 10.57%, the Nasdaq rose 17.75%, and the Dow climbed 4.98%.

As many as 3,020 stocks traded on the NSE on Tuesday. Out of this, 1,491 advanced and 1,452 declined, while 77 scrips remained unchanged.

This, however, indicates that the market breadth favoured positive.

A total of 96 stocks hit their 52-week highs, while 24 stocks touched their one-year lows. Besides, 119 stocks hit their upper circuit limits, and 43 touched their lower circuit bands on Tuesday.

NSE-listed firms' market capitalisation stood at ₹459.23 lakh crore.

The volatility index India VIX slumped 2.01% to 12.53 levels.

The NIFTY Midcap 100 index rose 0.01%, ending at 59,750.05 levels, while the NIFTY Smallcap 100 gauge lost 0.10% to close at 19,055.70 levels.

Apollo Hospitals was the top gainer on the index, rising 3.63%, followed by Bharat Electronics (2.7%), Reliance Industries (1.75%), Asian Paints (1.24%) and SBI Life Insurance (1.19%).

On the contrary, Nestle India (-2.22%), Axis Bank (-2.14%), Shriram Finance (-1.53%), Trent (-1.29%) and Eternal (-1.25%) were the biggest laggards on the 50-share index.