The benchmark equity indices ended Thursday’s trading session in the positive territory. The NSE Nifty 50 gained 51 points or 0.22% to settle at 23,567, while the BSE Sensex jumped 141.33 points or 0.18% to 77,478.93. Bank Nifty index ended higher by 385.20 points or 0.75% to settle at 51,783.25.
The broader indices ended in mixed territory, with gain led by Small cap and Midcap stocks. Realty and Metal stocks outperformed among the other sectoral indices while Pharma and Auto stocks shed.
Hindalco Industries, Grasim, JSW Steel, BPCL, and Adani Ports and SEZ are the top gainers on NSE Nifty 50 index whereas the top laggards include Hero MotoCorp, Mahindra & Mahindra, Sun Pharma, HDFC Life Insurance, and NTPC.
Stocks To Watch: Maruti Suzuki India, GMR Airports Infra, Brightcom Group, Hindustan Zinc, Adani Enterprises, Kolte-Patil Developers The Hindenburg cloud hovers over market; Nifty ends below 24,350, and Adani group stocks see 2% cut Stocks To Watch: Bharti Airtel, ONGC, BEML, Adani Energy Solutions, Bharti Hexacom, Lupin, Shree Cement August starts on a positive note! Nifty ends session above 25,000, Sensex surpasses 81,850 led by energy and FMCG stocks on August 01
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The Indian Volatility Index (India VIX) closed up by 2.68 % at 13.35.
“The markets traded lacklustre in a narrow range and ended the session slightly higher. On the benchmark front, the Nifty index closed at 23,581, up 0.30%. Sectorally, realty, metal, and private banking finished in the green, while Pharma, PSU Bank, and Auto sectors lagged. Broader indices also edged higher, both gaining over half a percent. ,” said Ajit Mishra – SVP, Research, Religare Broking.
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Mishra also said that, Looking ahead, a decisive close above 23,600 in Nifty could trigger fresh upward momentum, potentially pushing the index to 24,000 levels. On the downside, 23,400 is expected to act as strong support. Besides banking and IT, themes like sugar, fertilizers and chemical are showing good traction on the expected lines. Traders should align their positions accordingly.
Commenting on the Bank Nifty’s record highs, Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities said that the The Bank Nifty Index continued its strong momentum and managed to hold the support at 51,200-51,000. The bullish momentum is likely to continue, and dips should be utilized to buy the index targeting 52,200/52,600. The lower-end support is placed at 51,000, where the highest open interest is built up on the put side. A break below this level will only dampen the bullish sentiment.”
