Stock market LIVE updates today, Thursday, July 18, 2024: Indian stock markets, which began lower on Thursday amid trade war concerns between the US and China, staged a sharp intraday recovery. The BSE Sensex fell over 250 points intraday before recouping them to trade bove 80,800, up 90 points. The Nifty50 index, too, tested the 24,550-mark before gaining 32 points to quote at 24,645.
Bloomberg reported on Wednesday that the Joe Biden administration is considering a wide-sweeping rule to clamp down on companies exporting their critical chipmaking equipment to China. Besides, former president Donald Trump said Taiwan should pay the US for its defence. He also claimed Taiwan took ‘about 100 per cent’ of America’s semiconductor business.
In the broader markets, the BSE MidCap and SmallCap indices slumped up to 1.55 per cent intraday, but were off lows to trade 0.7 per cent lower.
Among sectors, the Nifty IT was up 0.4 per cent, the Nifty Bank, and FMCG were up 0.3 per cent, and the Nifty Financial Services up 0.2 per cent.