Stock Market Closing, 14th July, 2023: The Indian stock market closed higher on the final day of the week. After the crash on Thursday, the market saw a great rise today. TCS and Reliance remained the most active stocks. TCS shares rose by 5 percent. After today’s increase, investor wealth rose to Rs 298.57 lakh crore, while the market cap of BSE-listed companies fell to Rs 295.96 lakh crore when the market closed on Thursday.
The Indian stock market index Sensex rose 502.01 points to close at 66060.90 points and Nifty closed at 19564.50 points with an increase of 150.75 points. Bank Nifty rose 154.25 points to close at 44819.30 points. TCS, Infosys, Tech Mahindra, LTI Mind Tree and HCL Technology were the Nifty’s top gainers. While HDSFC Life, M&M, Power Grid Corporation, Titan Company and Dr. Reddy Lab were the top losers. BSI Midcap and Smallcap rose 1 percent. All sectors closed in the green.
Why did the stock market boom and set a new record?
The last business day of the week saw heavy buying in IT shares. Due to which both the main indices BSE Sensex and NSE Nifty created new records. At one point during the trade the Sensex touched 66159.79 points, a new all-time high. In today’s trade, the Nifty touched a one-time high of 19,595.35 points, which is also a new all-time high for the Nifty.
Sensex closes above 66,000-mark for the first time; Nifty settles at record high of 19,564.50
— Press Trust of India (@PTI_News) July 14, 2023
Such a boom in IT stocks
Only 10 out of 30 Sensex companies suffered losses in today’s trade, while shares of 20 closed higher. The market was bullish today led by IT stocks. On the Sensex, TCS shares were the highest gainers of 5.15 percent. Similarly, major IT stocks like Tech Mahindra, Infosys, HCL Tech and Wipro also recorded a jump of up to 4.50 percent. The top five gainers in the Sensex were from the IT sector. IT companies were helped by excellent quarterly results.
How did today start?
Today BSE’s 30-share index Sensex opened up 216.02 points or 0.33 percent at 65774.91 and Nifty up 79.70 points or 0.41 percent at 19493.05.
IT index became the top gainer index of the market
The IT index created history in the market today and traded at a high of over 1000 points. It became the top gainer index of the market with an increase of 1000 points. The market is also finding strong support in Nifty’s IT index and Sensex has also seen levels above 65900. The IT index saw a jump of over 4 percent.
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