Sensex, Nifty extend gains for 3rd day, Metals shines
Sensex and Nifty Today: Indian stock markets opened a gap-up on Friday amid positive cues from the US markets overnight. The market sentiments were upbeat, as investors are in hope that US Fed may not be aggressive with the interest rate hikes in the next meeting after the GDP shrunk for the second quarter. Nifty today opened at 17079.50 levels up by 149.90 while Sensex made a positive opening of 400.34 points at 57258.13 levels.
Stock market updates and news today
The positive sentiments continued throughout the day in the Indian stock markets despite negative cues from the other Asian markets. The market sentiments remained positive, amid a private report stating that India received the highest aid for trade in 2020 at $2.7 billion from developed countries even as the receipts declined during the pandemic year compared to $3.9 billion received in 2019.
The market sentiments got some boost in the last hour after the global information service provider S&P Global Market Intelligence said that RBI is expected to hike the repo rate by 35 basis points in its August policy. So far RBI has hiked 90 basis points in two tranches since May to take it to 4.90 percent.
On the global front, Asian markets were mostly closed in the red on Friday, as overall consumer prices in the Tokyo region of Japan were up 2.5 percent on year in July. European markets are trading higher following the positive cues from Wall Street and strong corporate earnings.
Sensex and Nifty at the close today
The Nifty index gained by 228.65 points or 1.35 percent and closed at 17158.25 levels while Sensex was up by 712.46 points or 1.25 percent and finished at 57570.25 levels. The Bank Nifty index ended higher today by 113.25 points or 0.30 percent on the spot level and ended at 37491.40
The broader markets outperformed the benchmarks today, as the Nifty midcap index gained by 414.50 points or 1.42 percent and closed at 29634.25 levels. The Nifty smallcap index closed higher today by 153.25 points or 1.70 percent at 9171.20 levels.
Nifty top gainers and losers today
The top gainers in the Nifty50 index were SBI Life, Tata Steel, Hindalco, Sun Pharma, and HDFC Life whereas the top losers were Dr. Reddy’s Lab, Kotak Mahindra, SBI, Divis Labs, and Axis Bank
The midcap top gainers were Dr. Lal Path Labs, GMR Infra, and IRCTC and the top losers were Sriram Transport, M&M Financial, and Indiabulls Hsg
The top gainers in the Nifty smallcap index were GMR Pfaudler, Route, and Westlife Dev and the top losers were KEC Int, Radico Khaitan, and Blue Star
The most active stocks in the Nifty index in terms of value were Bajaj Finance, Tata Steel, and Reliance. The most active stocks in terms of volume were Tata Steel, ONGC, and ITC
On the sectoral front, barring PSU Bank all sectoral indices closed higher today. The sectors that let the rally in today’s markets were Metals, Oil & Gas, IT, Consumer Durables, and Auto
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