Stock Market Highlights | 3rd July

GIFT Nifty saw a rise of 83 points, equivalent to 0.34%, reaching 24,328, suggesting a good beginning for the local NSE Nifty 50 and BSE Sensex on Wednesday. After the significant increases in the US market overnight and the cautious language of Fed Chair Jerome Powell, Asian markets started with a varied performance on Wednesday morning. The Nikkei 225 in Japan was up by 0.68% and trading at 40,346. The South Korean index Kospi saw a decrease of 0.06% to 2,779.32. The Asia Dow had risen by 0.36% to reach 3,599.34 in trading. Hang Seng rose by 0.41% to reach 17,841.77 in trading. The Shanghai Composite, a key index in China, remained unchanged at 2,996.87.

Wednesday's trading session concluded with the benchmark equity indices finishing in positive territory. The NSE Nifty 50 rose by 162.65 points, settling at 24,286.50, and the BSE Sensex increased by 545.34 points to reach 79,986.80, a gain of 0.67% and 0.69% respectively. The wider indices closed with a mix of results, driven by gains in Large-cap and Mid-cap stocks. Bank Nifty index closed up by 921.15 points or 1.77% at 53,089.25. The sectoral indices saw financial services and banking stocks perform well, while media stocks declined.