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Market Highlights, July 5: RIL, SBI lead late-cycle rally; benchmarks end flat; HDFC Bank falls 4% | Market News
Closing Bell on Friday, July 5, 2024: Equity markets settled in the negative zone on Friday, weighed down largely by HDFC Bank, Titan Company, Tata Steel and M&M. Though the benchmarks fell around 0.6 per cent in intraday trade, they ended flat amid a year-end rally led by Reliance Industries.
The BSE Sensex hit an intraday low of 79,479 before closing at 79,997, down 53 points or 0.07 per cent. Similarly, the Nifty50 hit a low of 24,169 before closing at 24,324, up 21 points or 0.09 per cent.
RIL shares gained 2.58 per cent, helping the Sensex and Nifty indices recover losses. This was followed by SBI (2.5 per cent), NTPC (1.9 per cent), HUL (1.89 per cent), L&T (1.3 per cent) and Nestle India (1.2 per cent).
HDFC Bank (down 4.4%), Titan Company, M&M, Tata Steel and Tata Motors weighed.
On the contrary, the BSE MidCap and SmallCap indices hit all-time highs in intraday trade and closed 0.7% higher each,
Sector-wise, the Nifty Private Bank, Financial Services and Bank indices fell 1 per cent each. On the upside, the Nifty FMCG, Pharma and PSU Bank indices added over 1 per cent each.