Share Market Highlights July 2, 2024: Sensex, Nifty end flat amid financial and auto declines

Sensex, Nifty updates on July 2, 2024: Indian shares closed flat on Tuesday, with the NSE Nifty 50 down 0.07% at 24,123.85 and the S&P BSE Sensex stable at 79,441.45. Early gains were erased as declines in financial and auto stocks overshadowed a rally in IT stocks. Financial indexes, including banks and financial services, dropped 0.5%-1%, pausing their June gains. Kotak Mahindra Bank reduced its loss to 2.13% after clarifying that Hindenburg Research was never an investor in its K-India Opportunities Fund. Auto stocks fell 0.76% due to declining June sales from Tata Motors and Ashok Leyland. In contrast, IT stocks rose 1.17%, boosted by expectations of a Federal Reserve rate cut in September. Larsen & Toubro saw a 2.83% increase after its unit received $4 billion in orders from Saudi Aramco.