On Friday, July 19, 2024, the opening bell of the Indian benchmarks, the BSE Sensex and Nifty50, was topped by Infosys and HDFC Bank, setting new records.
Following an early record high of 81,587, the BSE Sensex pared gains to close at 81,228—a decrease of 115 points, or 0.15 percent. In the meantime, the NSE Nifty50 reached a record-breaking high of 24,854 before quoting at 24,750, a 50-point decline. Global selling weighed on the indices.
The company’s better-than-expected Q1FY25 earnings and an increase in the company’s revenue growth projection to 3–4% caused the share price of Infosys to rise by 4%. The other top gainers were Nestle India, TCS, ITC, and HCL Tech.
The biggest laggards, down as much as 2.3%, were Power Grid, Ultratech Cement, Tata Steel, NTPC, Tech M, JSW Steel, Axis Bank, and Bharti Airtel.
The BSE SmallCap index dropped 0.64 percent while the BSE MidCap index dropped 0.7% in the larger markets.
Sector-wise, the Nifty FMCG index increased by 0.09 percent, while the Nifty IT index gained 1%. The biggest losers were the Nifty PSU Bank, Pharma, and Auto indexes (down 0.6% each), and the Nifty Metal and Realty indices (down more than 1% apiece).