Image Source : FILE Business stock exchange building.
The equity benchmark indices BSE Sensex and NSE Nifty continued their upward momentum on Monday, July 15. The Sensex climbed 146 points to settle at an all-time high of 80,665.86, while the Nifty rose 85 points to close at a record 24,586.70. Notably, the Nifty index crossed the 24,600 mark for the first time, reaching an intraday high of 24,635.
Sectoral and index performances
Nifty bank index: Surged 177 points, closing at 52,456.
Midcap index: Saw a robust gain of 491 points, ending at 57,664.
PSU bank sector: Emerged as the top gainer among sectoral indices, while the IT sector closed lower.
Top gainers and losers
Gainers: State Bank of India, NTPC, UltraTech Cement, ITC, Mahindra & Mahindra, and Maruti Suzuki India from the Sensex basket saw significant gains.
Laggards: Asian Paints, Tata Steel, Axis Bank, Tata Consultancy Services, Tech Mahindra, and Titan Company were the biggest laggards.
IT and tech sector movements
Despite early profit booking, IT stocks ended 2% off their highs. HCLTech, after a slight beat in its Q1 earnings, fell 4% from its highs but managed to close in the green. HDFC Life reported mixed earnings, leading to a minor gain for the stock, while HDFC AMC ended the session positively following an in-line Q1 report.
Oil and gas sector
Oil and gas stocks performed strongly, with ONGC emerging as the top Nifty gainer, rising 4%. Midcap stocks continued to attract buying interest, with market breadth favoring advances.
Notable individual stock movements
SBI, ONGC, NTPC, and ITC: Major contributors to the Nifty’s upside.
Tyre stocks: Experienced a rally following MRF’s announcement of a price hike, with stocks rising up to 5%.
Vodafone idea: Climbed 4% as the Supreme Court agreed to hear its plea in the AGR case.
Aurobindo pharma: Rose 4% after announcing a share buyback plan.
IREDA: Hit a record high post its Q1 results, closing 2% higher.
Zen Tech: Reached the 5% upper circuit following the launch of a new AI tech product.
Zomato: Hit a record high after increasing its platform fee, pushing its market capitalisation above Rs 2 lakh crore.
Antony Waste: Rose 5% in response to a healthy quarterly business update.
Varun Beverages: Gained 3% after agreeing with a PepsiCo company.
Market capitalisation
The market cap of BSE-listed companies reached a record high of ₹455 lakh crore ($5.45 trillion).
Previous session recap
On Friday, the BSE benchmark jumped 622 points or 0.78%, to settle at a record closing level of 80,519.34. During the day, it zoomed 996.17 points or 1.24% to hit an all-time high of 80,893.51. The NSE Nifty surged 186.20 points, or 0.77.
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