Stock Markets Close Marginally Up As Realty, FMCG Gain
Date
7/16/2024 7:00:18 AM
(MENAFN- IANS) Mumbai, July 16 (IANS) The Indian benchmark indices ended higher for the third consecutive session on Tuesday, as realty, FMCG and IT Stocks saw gains.
At the closing bell, the Sensex was up 51.69 points or 0.06 per cent at 80,716, while the Nifty was up 26.30 points or 0.11 per cent at 24,613.
Top gainers on the Nifty were coal India, BPCL, HUL, Tata Consumer Products and Bharti Airtel.
Realty index went up 1.6 per cent and FMCG, IT, Metal and Telecom up 0.3-0.9 per cent.
According to market analysts, the domestic market failed to uphold the opening gains as investors are concerned about current valuations and subdued expectations for Q1 FY25 earnings.
With the earnings season set to fully commence this week, investors are likely to gain a broader sectoral perspective.
The rupee traded flat near 83.58 as participants await the budget next week.
According to analysts, traders are expected to hold off on creating new positions until the budget is released, which will provide more clarity on the economic roadmap.
The Indian indices have continued their upward momentum driven by positive expectations from the upcoming budget and robust foreign institutional investor (FII) inflows, along with better-than-expected results from the IT sector.
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