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  5. Markets trade 0.5% higher amid high volatility; SENSEX crosses 81,000 for the first time

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Markets trade 0.5% higher amid high volatility; SENSEX crosses 81,000 for the first time

Upstox
By Upstox News Desk

2 min read | Updated on July 18, 2024, 13:45 IST

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SUMMARY

In stock-specific action, IT giants TCS (+2.14%) and Infosys (0.70%) provided support to the index, followed by Hindustan Unilever (+1.01%) and M&M (+0.74%). Infosys is expected to announce its earnings today. On the other hand, heavyweight Reliance Industries (-0.88%) is weighing on the index

Stock list

TCS
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INFY
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HDFCBANK
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BAJAJ-AUTO
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Volatility is expected to be the hallmark of today’s session amid weekly expiry of NIFTY50 options contracts

Volatility is expected to be the hallmark of today’s session amid weekly expiry of NIFTY50 options contracts

It’s Thursday, and volatility is likely to be the hallmark of today’s session due to the weekly expiry of the NIFTY50 options contracts. Indian markets experienced a roller-coaster ride: after opening on a negative note, the frontline benchmark indices bounced back from the lower levels. The NIFTY50 scaled a fresh record high of 24,678.90, while SENSEX touched 80,910.45.

The NIFTY50 is currently trading at new life-time high levels of 24,720, while SENSEX crossed 81,000 for the first time. On Monday and Tuesday, it formed an indecisive candle- a DOJI candlestick pattern. A close below the level of 24,520 would confirm the negative implication of the DOJI candlestick pattern.

In stock-specific action, IT giants TCS (+2.14%) and Infosys (0.70%) provided support to the index, followed by Hindustan Unilever (+1.01%) and M&M (+0.74%). Infosys is expected to announce its earnings today. On the other hand, heavyweight Reliance Industries (-0.88%) is weighing on the index, followed by HDFC Bank (-0.71%) and Bajaj Auto (-3.47%). Reliance Industries is trading at a fresh 7-day low and is approaching its 20-DMA ahead of its earnings scheduled on July 19.

Most of the sectoral indices traded in negative territory, with Nifty Media (-3.41%), Nifty Realty (-1.18%) and Nifty Metal (-1.08%) being top three losers on Thursday. On the flip side, Nifty IT (+1.07%) and Nifty FMCG (-0.48%), were the top two gainers.

The sell-off is severe in the broader markets, with the Nifty Midcap 100 and Smallcap 100 indices, both down by over 1%. Market breadth is negative with 1,710 stocks trending lower and 603 stocks trending higher.

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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