Sensex Gains Over 400 Points, Nifty Finishes Above 24,800 As Headline Indices Snap Losing Spree

The 30-share Sensex and the Nifty 50 ended a three session declining streak today as well. The BSE Sensex finished the session at 81,337.95 up by 446.93 points or 0.55 per cent. The benchmark Nifty index also closed the session at 24,821.1 up by 140.2 points or 0.57 per cent.

Jio Finance and Reliance Industries Emerge As Top-Gainers

Shares of Jio Finance and Reliance Industries Ltd emerged as top gainers on July 29, closing higher by 2.09 per cent and 4.77 per cent, respectively, on the NSE. Other major gainers included Asian Paints, Larsen & Toubro and Eicher Motors Ltd as they finished the session higher by up to 1.97 per cent. SBI Life Insurance and Axis Bank emerged as top losers among Nifty 50 stocks as they finished the session lower by as much as 0.93 per cent. Other losers included Tata Consultancy Services, HDFC Life Insurance and ITC. As many as 36 stocks included in the Nifty 50 finished the session in the green while 14 stocks closed the session lower.

Nifty Realty and Nifty Pharma Close Higher

The Nifty Realty index and the Nifty Pharma index led the gainers among all sectoral indices as they gained 1.6 per cent and 1.37 per cent at the close respectively. The broader market indices moved in-line with the movement of the benchmarks on July 29. The Nifty MidCap 100 and the Nifty SmallCap 100 finished the session higher ending a three session losing spree as they closed higher by 0.81 per cent and 1.03 per cent respectively.

Global Markets on July 29

The US Market indices closed the session mixed on July 28, the Nasdaq Composite and the S&P 500 finished the session in the green, up by 0.33 per cent and 0.02 per cent, respectively. On the other hand the Dow Jones Industrial Average closed lower by 0.14 per cent at 44,837.56 levels. Asian indices finished the session mixed with the Nikkei 225 and Hang Seng ending lower by as much as 0.92 per cent. Conversely, South Korea’s KOSPI and China’s Shanghai Composite ended the session in the green up by as much as 0.65 per cent.

Primary Market Action On July 29

Shares of Monarch Surveyors & Engineering Consultants Ltd made their debut on the BSE SME platform on July 29. On the other hand, the public issues of Kaytex Fabrics Ltd, Aditya Infotech Ltd and Laxmi India Finance Ltd opened for subscription on July 29 as well.

Market Cues

The market is likely to take into account new developments in the India-US trade deal ahead of the August 1 deadline for the imposition of trade tariffs. Additionally the announcement of June quarter results by various companies are also expected to impact trade in the upcoming sessions.