The Indian benchmark indices closed in the green after reaching a new all-time high during a day of trading. The Sensex touched a new high at 80,397 and the Nifty50 closed at 24,417.55, up 97.00 points or 0.40 per cent. Various sectors such as banking, auto, financial services, FMCG, media, pharma, and others traded positively, while IT stocks and oil and gas firms remained in the red. The top gainers during the day were Maruti, Mahindra and Mahindra, Divis Laboratories, Titan, and Hindalco. Reliance, Tata Communications, Bajaj Finance, ONGC, and Shriram Finance were among the top losers.
In broader indices, the BSE MidCap and SmallCap indices rose by 0.3 per cent and 0.2 per cent respectively. Nifty PSU bank led the gains with nearly 2 per cent increase, followed by the auto sector rising by 1.15 per cent. However, the oil & gas sector saw a decline of 0.29 per cent. The Sensex has risen by 11.18 per cent since the previous year, while the Nifty has climbed 12.38 per cent. Equity mutual funds saw robust inflows of Rs 40,608 crore in June, up 17 per cent from the previous month. Positive monsoon outlook has also bolstered Indian agrochemical stocks.
Market experts are looking forward to corporate earnings reports starting this week. Sectors like Auto and BFSI are expected to drive earnings growth while challenges may be faced by global cyclicals such as oil and gas and cement. PM Narendra Modi’s recent visit to Russia is expected to add positive sentiments in the market, especially in the oil and defence industries. Analysts predict that the Nifty could gain support between 24400 and 24320 and face resistance around 24500 and 24570 in the next session.
Overall, the Indian stock market closed in the green after reaching a new all-time high during the day’s trading. Several sectors showed positive movement, with banking, auto, financial services, and others leading the gains. Some sectors such as IT and oil and gas firms remained in the red. The Sensex and Nifty closed at new highs, with significant gains recorded in various sectors. Market experts are now focusing on corporate earnings reports and the impact of PM Narendra Modi’s recent visit to Russia on the market sentiment. Analysts predict further gains for the Nifty in the upcoming sessions, with support and resistance levels indicated.
