Market Wrap, July 9: SENSEX rises 238 pts, NIFTY50 ends at 23,962; SMIDs outshine, Sun Pharma leads gain

The Indian stock market snapped its two-day losing streak and closed with gains on Thursday, July 9, as both equity benchmark indices rebounded after the previous day’s market crash amid fresh foreign fund inflows and buying in heavyweight stocks.

The broader market outperformed the benchmark indices, while the NIFTY Bank index also witnessed a strong rally throughout the session.

According to exchange data, on Wednesday, the foreign institutional investors (FIIs) purchased shares worth ₹1,962.80 crore, while the domestic institutional investors (DIIs) bought equities worth ₹790.16 crore on a net basis.

Globally, the other markets in Asia mostly ended in the green, and oil prices jumped Thursday as conflict escalated in the Middle East, with Iran and the US launching fresh attacks.

Japan's Nikkei rose 1.99%, China's Shanghai Composite was up 1.63%, while South Korea's KOSPI gained 0.62%.

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

As many as 3,414 stocks traded on the NSE on Thursday. Out of these, 2,522 advanced and 780 stocks declined, while 112 scrips remained unchanged.

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

A total of 82 stocks hit their 52-week highs, while 47 stocks touched their one-year lows. Besides, 130 stocks hit their upper circuit limits, and 70 touched their lower circuit bands on Thursday.

The market capitalisation of NSE-listed firms stood at ₹475.57 lakh crore at the close of the session, adding ₹4.35 lakh crore.

India VIX, the volatility gauge, stood at 13.27 levels, slumping 8.97%.

The broader markets outshined the main equity indices as the Nifty Smallcap 100 index surged 1.8% to close at 19,120.85, while the Nifty Midcap 100 index ended at 62,166.85, gaining 1.38%.

Except for NIFTY IT (-0.3%) and NIFTY Auto (-0.21%), all the other sectors ended the session in green.

Led by Lodha Developers (7.61%), Brigade Enterprises (6.39%) and Aditya Birla Real Estate (4.63%), NIFTY Realty outperformed, surging 3.54%. NIFTY Media (2.09%), NIFTY Consumer Durables (1.68%), NIFTY PSU Bank (1.62%), and NIFTY Pharma (0.89%) were the other sectoral gainers.

On the NIFTY50, 33 stocks ended in the green, while 17 declined on Thursday.

Sun Pharma was the biggest contributor, climbing 2.78%, followed by Bharti Airtel (2.49%), Bajaj Finserv (2.38%), InterGlobe Aviation (2.08%) and Eternal (2.01%).

On the flip side, Dr. Reddy's Laboratories (-5.77%), Maruti Suzuki (-1.73%), ONGC (-1.42%), Infosys (-1.31%) and NTPC (-1.22%) were the top losers on the 50-share index.