Closing Bell- Sensex and Nifty closed flat today 16 July, Nifty holds 15900 levels
Indian markets made a positive start in the morning amid mixed global cues. Markets trader higher in the morning deal on the back of buying in Healthcare, Telecom, and Metal stocks. In the second half, Indian markets witnessed lackluster trading and closed almost flat.
In the morning, traders took encouragement with the RBI’s report that the tapering of the second wave, aggressive vaccination push, has brightened near-term prospects for the Indian economy, and the Indian economy may have grown 22.1 percent in the April-June quarter.
Further, adding more optimism, the data released by the Commerce Ministry on Thursday showed that the country’s export rose by 48.34% to 32.5 billion on account of shipments of petroleum products, gems and jewelry, chemicals, leather, and marine goods. However, the upside remained capped due to a slight increase in India’s Covid-19 cases in the last 24 hours.
Today’s market updates: Sensex, Nifty, and Bank Nifty on the spot price
At the close, Nifty closed flat at 15923.40 while Sensex was down by 18.79 points or 0.03 percent and finished at 53140.06 levels. The Bank Nifty on the spot price fell 155.85 points or 0.43 percent and ended at 35751.80 levels.
The broader markets outperformed the benchmark indices today. The Nifty midcap index gained 96.45 points or 0.35 percent and closed at 27851.15 levels. The Nifty smallcap index climbed 113.90 points or 1.10 percent and ended at 10447.05 levels.
The top five gainers in the Nifty 50 index were Divis lab, Bharti Airtel, Ultracemco, Tata Steel, and Power Grid. The top five losers in the Nifty 50 index were HCL Tech, Eicher Motors, Infosys, Bajaj Finserve, and Adani Ports. The value-wise most active stocks in the Nifty 50 index were Wipro, Tata Steel, and Infosys whereas volume-wise active stocks were Wipro, ITC, and Tata Motors.
On a sectoral front, Healthcare, Oil & Gas, Metals, Finance, and Telecom sectors were closed higher. On the losing side, IT & Software, Banking, and Insurance sectors closed lower today.
Global Markets Updates
Asian markets closed mixed on Friday tracking negative cues from the U.S markets overnight and rising tension between the US and China. Traders are worried as some central banks around the globe considering tightening monetary policy much sooner than the US Federal Reserve. The European market Indexes are trading mixed as travel stocks rebound, while traders are concern about the rising delta variants in the continent. The US future indexes are trading marginally higher at this moment 4.30 pm IST
Market Live Today 16 July- Indian stock markets are trading higher, Pharma stocks are in focus
Market Live Today 16 July: Indian stock markets opened higher on Friday amid mixed global cues. Nifty opened at 15958.35, up by 34.15 points while Sensex made a positive opening of 85.55 points at 53244.40 levels. The Bank Nifty on the spot price also opened higher at 35977.95 levels, up by 70.3 points.
At 9.50 am IST, the benchmark indices are trading at a new high. Sensex and Nifty are trading higher by 0.17 percent and 0.19 percent respectively. The Bank Nifty on the spot price is trading 0.16 percent down at this moment.
Divis Lab, Sun Pharma, and Cipla are trading as the top gainers in the Nifty 50 index whereas Eicher Motors, HCL Tech, and Tech Mahindra are trading as the top losers. The most active stocks (value-wise) in the Nifty 50 index are Wipro, Tata Steel, and ITC.
The Healthcare, Finance, Metals, FMCG, and Oil & Gas sectors are trading higher on a sectoral basis. The sectors that are trading lower are Power, Infrastructure, and Banks
Indian stock markets are likely to open in the green today
Good morning and welcome to the Indian stock market live today, 16 July at 7.50 am IST
Asian markets are mostly trading in the red on Friday tracking the negative cues from the U.S markets overnight. Nikkei is trading lower by 1.05 percent while Hang Seng and Shanghai are trading 0.21 percent and 0.21 percent down from the previous close. SGX Nifty is trading higher by 33 points at 15948 levels. The Indian stock markets are likely to open in the green as per the indication getting from SGX Nifty today.
The U.S markets mostly closed in the red on Thursday after the Federal Reserve’s chair said that the recent inflation is above the central bank’s target and sounded somewhat less confident about the economic outlook than earlier in the year. The U.S market indexes Dow Jones closed higher by 0.15 percent whereas S&P 500 and Nasdaq closed lower by 0.33 percent and 0.70 percent respectively on Thursday.
European markets fell on Thursday as a clutch of dismal earnings and falling bond yields dampened the market sentiments. While the U.K listed avast soared 18 % on merger talks. The European markets indexes FTSE and Dax fell 1.12% and 1.01 % respectively while CAC closed 0.99 percent on Thursday.
Indian stock markets climbed on Thursday amid positive Asian markets cues. The key benchmark indices Sensex and Nifty touched a record high and closed higher by 0.48 percent and 0.44 percent respectively. FIIs were the sellers and DIIs were the buyers in the cash markets. FII sold Rs 264.77 crores while DIIs bought Rs 439.41 crore in the cash market on Thursday.
News that may impact the Indian stock market live today 16 July
The country’s exports were estimated at $49.85 billion in June, up nearly 32% from the last year and 17.17% higher than pre-Covid levels of June 2019. The imports stood at $52.18 billion, an increase of 73.65% in June on YoY and 1.08% higher than June 2019, according to the data released by the Commerce and Industry Ministry on Thursday
According to RBI data showed on Thursday, India’s Bank credit grew by 6% to Rs 109.31 lakh crore and deposits also increased by 9.76% to Rs 154.51 lakh crore in the fortnight ended July 2, 2021. This is as compared to bank advances stood at Rs 103.04 lakh crore and deposits at Rs 140.77 lakh crore in the fortnight ended July 2, 2020.
On 15 July, the IT services company Wipro reported a consolidated net profit of Rs 3242.6 crore for the Q1FY22, up 35.7 percent YoY and 9 percent QoQ basis. The Q1FY22 of Wipro beats the street estimates and so the IT sector will be in focus today.
You can visit again to read more updates on the Indian stock market live today 16 July, after the markets get open.
You may also like to read, Nifty & Bank Nifty Prediction for Tomorrow, 16 July 2021
What is SGX Nifty? Can Indian trade in SGX Nifty?
Happy Investing !!
Editor’s Desk