Bull run continues in stock market
The closing of the stock market took place on the first day of the trading week. The Sensex closed 364 points higher at 52,950.63. Similarly, Nifty also closed at 15,885 with a gain of 122 points. The market rally was supported by realty, IT and auto stocks.
Realty index up 5%
Out of 30 stocks included in the Sensex, 21 stocks gained, in which Titan’s stock closed at Rs 1,773 up 3.44%. Similarly, the share of Axis Bank also gained 2%. At the same time, the share of Tata Steel fell 1.37% to close at Rs 1,414. There was strong buying in the shares of the realty sector.
Nifty Realty Index closed at 417 points with a gain of 4.79%. In this, the share of Oberoi Realty closed at Rs 744 with a gain of 10.65%.
On Monday, 3,502 shares were traded on the BSE. In this, 2,179 shares gained and 1,156 shares declined. The total market cap of listed companies has also crossed Rs 237.85 lakh crore. Earlier on Friday, the Sensex closed 66 points down at 52,586 and the Nifty was down 15 points at 15,763.
Recovery in the manufacturing sector
The IHS Market Purchasing Managers’ Index (PMI) has risen to 55.3 in July, from 48.1 in June. Above 50 here means that manufacturing has increased in the country, which was affected due to the second wave of Corona in June.
HDFC’s profit declined on a yearly basis
Housing Development Finance Corporation Limited (HDFC) has released the June quarter results. The company has made a profit of Rs 3000.67 crore during April to June. It was Rs 3,051.52 crore in the year-ago quarter. Whereas in the March quarter, the company made a profit of Rs 3,179.83 crore.
PolicyBazaar.com applied for IPO
Online insurance aggregator PolicyBazaar.com has submitted IPO Approval Documents (DRHP) with market regulator SEBI. The company has sought approval from SEBI to raise Rs 6017.50 crore through IPO. Fresh issue of Rs 3,750 crore will be issued in the IPO. Also, shares worth Rs 2,267 crore will be sold through offer for sale (OFS). In this, existing investors and promoters will sell their stake.
