Share Market News: Stock market indices closed higher ahead of the July 9 deadline for the imposition of US President Donald Trump’s proposed trade tariff deadline. The 30-share Sensex finished the session higher by 270.01 points or 0.32 per cent at 83,712.51 levels. The Nifty closed at 25,522.5 up by 61.2 points or 0.24 per cent. Investors continued to remain cautious even as US President Donald Trump claimed that India is close to inking a trade deal with the US.
Kotak Mahindra Bank and Eternal Lead Gainers
Shares of Kotak Mahindra Bank, Eternal, Asian Paints and NTPC emerged as top gainers among Nifty 50 stocks on July 8 as they closed up to 3.45 per cent higher. On the other hand Titan, Dr Reddy’s Laboratories, Bajaj Auto and Cipla shares led the losers slipping as much as 5.88 per cent at the close.
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Nifty Realty and Nifty Bank Gain
On July 8, the Nifty Realty index and the Nifty Bank emerged as top gainers among all sectoral indices. The Nifty Realty finished the session 0.99 per cent higher and the Nifty Bank finished the session higher by 0.54 per cent. Conversely the Nifty Pharma and the Nifty Consumer Durables declined 0.89 per cent and 2.29 per cent respectively and led losers among the sectoral pack.
Global Markets on July 8
Asian indices closed the session higher on July 8. The Nikkei 225 finished the session gaining 101.13 points or 0.25 per cent. The Hang Seng index, KOSPI and the Shanghai Composite finished the session higher by 1.08 per cent, 1.78 per cent and 0.7 per cent respectively. However, Wall Street indices closed lower on July 7 with the Dow Jones Industrial Average finishing at 44,406.36 down by 422.17 points or 0.94 per cent. The Nasdaq Composite and the S&P 500 also closed lower by 0.92 per cent and 0.79 per cent respectively.
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Primary Market Action On July 8
GLEN Industries IPO opened for subscription on July 8. On the other hand Meta Infotech IPO’s bidding window closed today as well.
Market Cues
D-street is likely to remain in a ‘wait-and-watch’ mode and await any further announcements related to the finalisation of a trade deal between US and India.
