The benchmark equity indices ended Tuesday’s trading session in the positive territory. The NSE Nifty 50 gained 21.20 points or 0.09% to settle at 24,857.30, while the BSE Sensex jumped 99.55 points or 0.12% to 81,455.40.
The broader indices ended in mixed territory, with gain led by Largecap and Midcap stocks. Energy and Media stocks outperformed among the other sectoral indices while FMCG and Pharma stocks shed.
Sectoral Index
Bank Nifty index ended higher by just 93.05 points or 0.18% to settle at 51,499.30. The Nifty Midcap 100 jumps 261.35 points, or 0.45%, ending the day’s trading at 58,623.40. In the broader markets, small-cap and mid-cap stocks finished in the green.
Markets end at intra-day highs! Nifty at 24,950, Sensex over 81,700 led by metal and pharma on July 31 Markets give up early gains! Nifty breaches 24,000, Sensex slips below 78,600 Share Market Highlights: Markets end in deep red! Nifty closes at 24,700, Sensex plunges over 900 points; sharp cuts in realty and auto 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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Top Movers for the day
Tata Motors, NTPC, BPCL, Power Grid Corp, and Titan Company were the top gainers on the NSE Nifty 50, while the laggards includes LTIMindtree, SBI Life Insurance, Cipla, Grasim, and Sun Pharma.
The Indian Volatility Index (India VIX) closed down by 0.92 % at 12.83.
Experts on Today’s Market Performance
“The domestic market ended flat, due to by profit-booking at higher levels. However, the expectation of dovish comments from the US Fed and BoE in the upcoming policy meetings this week is supporting the optimism. The investors will also closely monitor comments from BoE and BoJ ,” said Vinod Nair, Head of Research at Geojit Financial Services
Nair also said that The BOE is expected to lower rates due to rising unemployment and easing inflation, while the BOJ is likely to increase rates in response to surging inflation, potentially causing market volatility.
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Commenting on the same Ajit Mishra – SVP, Research, Religare Broking said that The market traded volatile for yet another session and ended nearly unchanged. After a flat start, the Nifty gradually inched higher for most of the session; however, sharp profit-taking in the final hours trimmed all the gains. Meanwhile, a mixed trend continued on the sectoral front, with energy, auto, and realty performing well, while FMCG and pharma lagged slightly.
Mishra also added that The broader indices continued to attract buying interest, helping market breadth to end on the advancing side. Rotational participation from the heavyweights is maintaining a positive tone amid consolidation, and we expect this prevailing trend to continue. We are targeting 25,100 in the Nifty and suggest focusing on accumulating quality stocks on dips.
Bank Nifty
Commenting on the Bank Nifty today Rupak De, Senior Technical Analyst, LKP Securities said that Bank Nifty encountered selling pressure around its 21-day EMA but managed to close above its rising channel breakout point. On the options front, active put writers at lower strike prices indicate strong support at the 51200 level. Consequently, the view for Bank Nifty is range-bound, with support at 51000 and resistance at 51800 and 52000 levels. A decisive breakout of these levels will determine the future direction of Bank Nifty.
