Stock Market Ends Flat Amid Awaited TCS Results and Nifty Expiry

The stock market closed flat on Thursday, with the NSE Nifty 50 slightly up by 0.05% and the BSE Sensex marginally down by 0.01%. Market sentiment remained subdued as investors awaited TCS's first-quarter results and contended with Nifty futures and options weekly expiry.

Devdiscourse News Desk | Updated: 11-07-2024 16:14 IST | Created: 11-07-2024 16:14 IST
Stock Market Ends Flat Amid Awaited TCS Results and Nifty Expiry
Representative Image. (Image: NSE). Image Credit: ANI
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The stock market ended Thursday's trading session flat, with the NSE Nifty 50 inching up by 0.05% to settle at 24,337 and the BSE Sensex closing slightly down by 0.01% at 79,914.26 points. Investors displayed caution as they awaited the first-quarter results of TCS amidst the weekly expiry of Nifty futures and options contracts.

On the National Stock Exchange (NSE), stocks of ONGC, BPCL, Coal India, ITC, and Tata Motors saw gains, while Tata Consumer Products, Bajaj Finance, M&M, Divi's Laboratories, and NTPC underperformed. In the broader market, the BSE MidCap index edged up by 0.2%, and the SmallCap index advanced by 0.5%. Market breadth was positive, with 2,100 stocks advancing compared to 1,660 declining on the BSE.

Particularly noteworthy were the trading activities of shipping firms, RVNL, and YES Bank. Meanwhile, Raymond traded at an adjusted price post the de-merger of its Lifestyle unit. According to market expert Ajay Bagga, 'It was another mildly volatile day for Indian markets. The time-wise consolidation is on at all-time high levels. Banks managed to end in the green after several sessions of pressure, indicating markets are looking for cues from the earnings season. The US CPI tonight will set the tone for a possible September rate cut in the US.'

Varun Aggarwal, MD of Profit Idea, commented on the recent Reserve Bank of India (RBI) decision allowing resident Indians to open bank accounts in foreign currencies at GIFT City, calling it a progressive step towards enhancing the convertibility of the Indian rupee. VLA Ambala, co-founder of Stock Market Today, noted that excitement is building around the upcoming Union Budget 2024, with potential momentum expected in mid-cap and large-cap stocks in sectors such as automobiles, semiconductors, infrastructure, and green energy.

(With inputs from agencies.)

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