Weekly Market Update | HDFC Securities

Introducing the latest weekly markets recap from HDFC Securities, covering the period of 8th July to 12th July, 2024. Dive into the dynamic world of Indian stock markets with our weekly roundup curated by our In-house expert. Stay ahead of the game as we unravel market insights, top gainers and losers and the share market buzz.
Markets this week
-Indian equity rally continued with the Nifty closing at a new record high this week and ended the week higher by 0.73%.
-The BSE Midcap and small cap indices closed flat during the week.
-The BSE Smallcap Index dropped 0.3% for the week but is up 7.5% in the past 30 days.
-Nifty FMCG and IT indices were up 3.5% during the week. US rate cut hopes and results from TCS boosted the IT sector.
-Among sectoral losers, Metal index was 2.6% while Nifty Realty saw a decline of 2.3%
Market Movers During the week
-Shares of RVNL rallied ~50% on winning orders worth rupees 389 crore
-Shares of CESC rallied~17% after the firm decided to raise effective tariff by 5.7%
-Shares of M&M fell about 7% on news that the automaker has reduced prices of its key model X U V seven hundred
​-Shares of RBL Bank fell 8% after its June quarter update showed a sequential decline in deposits
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