Market update on 18 July: Sensex, Nifty register big gains on first day of week
Today, on the first day of the week, there was a big rally in the domestic stock markets. There was buying in most of the sectors. In the morning, the open markets continued to climb up. There was no huge fluctuation in the index even once in the day. At the end of trading, the Sensex closed at 54521.15 with a gain of 760.37 points. On the other hand, Nifty closed at 16278.50 with a big gain of 229.30. Bank Nifty also remained green and closed at 35358.70 with a gain of 676.05 points.
Today’s trading saw buying in about 40 shares of Nifty 50. IT stocks looked bright today after several days of selling. Today, IT stocks were the biggest contributors in moving up the index. In Bank Nifty, except HDFC Bank, almost all the banks were seen in the bullish trend. The Indian rupee today closed at a record level of 79.97 against the dollar. It closed at 79.87 on Friday.
In today’s business, Hindalco Industries, IndusInd Bank, Infosys, Bajaj Finserv and Tech Mahindra were the top gainers of Nifty. At the same time, Britannia Industries, Dr Reddy’s Laboratories, HDFC Bank, M&M and Maruti Suzuki were at the forefront of the falls.
All sectoral indices closed in the green today. Information Technology, PSU Bank, Metal, Power, Oil & Gas, Bank, Realty and Capital Goods indices were up by one to three per cent. BSE Midcap and Smallcap were up 1 per cent.
Crude oil saw a rise today. Selling by foreign investors continues. In July also, FPIs have so far withdrawn funds of more than 7 thousand crores. This is the 9th consecutive month of selling.
