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  5. NIFTY50 and SENSEX trade near new high levels; India VIX rises above 14 mark

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NIFTY50 and SENSEX trade near new high levels; India VIX rises above 14 mark

Upstox
By Upstox News Desk

2 min read | Updated on July 09, 2024, 14:45 IST

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SUMMARY

NIFTY50 and SENSEX indices were trading positively, with the Nifty FMCG index rising by 1.14% to a new all-time high. ITC played a significant role in driving these gains, particularly within the Nifty FMCG sector. However, there are indications of potential increased market volatility as the India VIX surged past the 14 mark and moved above its 20-SMA for the first time in a month.

Stock list

MARUTI
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ITC
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LT
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NIFTY50 set new all-time high on Tuesday, while India VIX moves above 20-SMA

NIFTY50 set new all-time high on Tuesday, while India VIX moves above 20-SMA

On Tuesday, after opening the session on a positive note, the Indian equity benchmark indices NIFTY50 and SENSEX built upon early morning gains. The NIFTY50 index hit a fresh all-time high on Tuesday of 24,401.20, surpassing its previous record of 24,401 by a whisker, which was set on July 04. The NIFTY50 and SENSEX were trading higher by 0.30% and 0.36%, respectively. Key contributors to the NIFTY50 index included Maruti, ITC and LT.

However, it is concerning that despite the NIFTY50 reaching a new all-time high, the India VIX surged over 3% to trade above the 14 level, crossing its 20-SMA for the first time in the last month, indicating increased volatility.

The broader markets showed modest gains with the Nifty Midcap 100 and Smallcap 100 indices up by 0.06% and 0.22%, respectively. Market breadth favored advance, with 1,171 stocks rising compared to 1,024 declining.

Top gainers and losers- Maruti (+4.1%), Adani Ports (+1.7%), Titan (+1.5%) were the top three gainers and Dr Reddy’s (-0.78%), Reliance (-0.53%) and Axis Bank (-0.43%) are the top three losers.

Sector-wise, most of the sectoral indices were trading in green led Nifty Auto (+1.86%), Nifty PSU Bank (+1.68%), and Nifty FMCG (+1.14%). Nifty FMCG index hit a fresh all-time high on Tuesday. The major losers were Nifty Oil & Gas (-0.25%) and Nifty Metal (-0.21%).

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