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Business News›Markets›Stocks›Podcast›Market Watch: Nifty bulls riding high on hopes of fading inflation
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Market Watch (ETMarkets.com)
Nifty bulls riding high on hopes of fading inflation
Nikhil Agarwal | 01:40 Min | July 07, 2022, 6:44 PM IST
The bulls tightened their grip on markets, with benchmark indices scaling one-month peaks on Thursday, led by gains across sectors. The 30-share pack Sensex advanced 427 points or 0.80 per cent to close at 54,178. Its broader peer, Nifty50, rose 143 points 0.89 per cent and managed to close well above the 16,000 mark.
Transcript
Welcome to ETMarkets Watch, your daily wrap-up to the day on Dalal Street. I am Nikhil Agarwal.
The bulls tightened their grip on markets, with benchmark indices scaling one-month peaks on Thursday, led by gains across sectors. The 30-share pack Sensex advanced 427 points or 0.80 per cent to close at 54,178. Its broader peer, Nifty50, rose 143 points 0.89 per cent and managed to close well above the 16,000 mark.
Titan, Tata Steel, L&T, IndusInd Bank, M&M and ICICI Bank were the top gainers among Sensex stocks, rising between 2-6 per cent. Kotak Mahindra Bank, SBI, HDFC Bank and NTPC also settled on a positive note. On the flipside, Dr Reddy's, Nestle, Reliance and Bharti Airtel settled 1 per cent lower.
Broader markets mirrored gains in the benchmark indices, with the Nifty Midcap and smallcap rising over one per cent each.
Financials led the rally, with the market breadth showing a marked improvement as several stocks in the small & midcap space saw keen investor interest.
All sectoral indices, barring FMCG settled in the black today. Metal and PSU banks were the lead gainers, rising over 3 per cent each. Nifty Realty rose 2.6 per cent while Nifty Bank and auto sectors ended over 1 per cent higher.
Mr Vinod Nair, Head of Research at Geojit Financial Services, said this upside momentum could dominate the markets in the near-term, underpinned by hopes of reducing inflation.
That’s all for now. Do check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye.
The bulls tightened their grip on markets, with benchmark indices scaling one-month peaks on Thursday, led by gains across sectors. The 30-share pack Sensex advanced 427 points or 0.80 per cent to close at 54,178. Its broader peer, Nifty50, rose 143 points 0.89 per cent and managed to close well above the 16,000 mark.
Titan, Tata Steel, L&T, IndusInd Bank, M&M and ICICI Bank were the top gainers among Sensex stocks, rising between 2-6 per cent. Kotak Mahindra Bank, SBI, HDFC Bank and NTPC also settled on a positive note. On the flipside, Dr Reddy's, Nestle, Reliance and Bharti Airtel settled 1 per cent lower.
Broader markets mirrored gains in the benchmark indices, with the Nifty Midcap and smallcap rising over one per cent each.
Financials led the rally, with the market breadth showing a marked improvement as several stocks in the small & midcap space saw keen investor interest.
All sectoral indices, barring FMCG settled in the black today. Metal and PSU banks were the lead gainers, rising over 3 per cent each. Nifty Realty rose 2.6 per cent while Nifty Bank and auto sectors ended over 1 per cent higher.
Mr Vinod Nair, Head of Research at Geojit Financial Services, said this upside momentum could dominate the markets in the near-term, underpinned by hopes of reducing inflation.
That’s all for now. Do check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye.
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