The largest gainers in the Sensex pack were HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, IndusInd Bank, Bharti Airtel, and Nestle. Among the laggards were Tata Consultancy Services, Sun Pharma, Infosys, and Tata Motors.
With significant purchasing in bank stocks and solid global market trends, equity benchmark indexes got off to a positive start this morning (July 3), with the Sensex breaking through the 80,000 barrier for the first time ever and the Nifty achieving a new all-time high.
On Wednesday, the 30-share BSE Sensex increased by 597.77 points to reach a new all-time high of 80,039.22. The Nifty increased by 168.3 points, reaching a new high of 24,292.15.
The largest gainers in the Sensex pack were HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, IndusInd Bank, Bharti Airtel, and Nestle. Among the laggards were Tata Consultancy Services, Sun Pharma, Infosys, and Tata Motors.
Sensex, Nifty close flat on July 2 eveningÂ
Tuesday’s turbulent activity saw the BSE benchmark drop 34.74 points, or 0.04 percent, to close at 79,441.45. It increased by 379.68 points, or 0.47 percent, throughout the day to reach a record high of 79,855.87.
The Nifty dropped to 24,123.85, down 18.10 points, or 0.07 percent. It increased 94.4 points, or 0.39 percent, throughout the day to reach a lifetime high of 24,236.35. The benchmark for world oil, Brent crude, increased by 0.56% to USD 86.72 a barrel. Foreign Institutional Investors (FIIs) offloaded stocks worth Rs 2,000.12 crore on Tuesday, according to exchange data.
The largest laggards in the Sensex pack were Titan, State Bank of India, ICICI Bank, Tata Motors, Bharti Airtel, IndusInd Bank, and Bajaj Finance. The companies with the largest gains were Larsen & Toubro, Infosys, HDFC Bank, Tata Consultancy Services, HCL Technologies, and Tata Steel.
“The local market paused, reflecting the erratic global trend and the ECB’s reluctance to announce any rate reduction. Market patterns are being impacted by recent increases in US Treasury rates as well as a steady rise in the price of crude oil, according to Vinod Nair, Head of Research at Geojit Financial Services.
According to Nair, investors are keeping a careful eye on the monsoon’s development, the next Union budget, and the US election since these might have an impact on the world economy. The BSE benchmark reached an all-time high of 79,476.19 on Monday, up 443.46 points, or 0.56 percent. The Nifty closed at a new all-time high of 24,141.95, up 131.35 points, or 0.55%.
“In early trading, the markets reached new highs due to renewed confidence, but they were unable to capitalize on this and fell into the red. Profit-taking in banking, telecom, and auto equities was fueled by weak European indications and a bearish attitude in Dow Futures, according to Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.