On July 7, India’s equity markets closed at record highs paced by the gains witnessed by shares of metal, realty, and financial services.
Realty and metal indices increased by 2 percent each due to the further decrease in unsold real estate inventory in Q2CY21, sectorally, as well as the CAPEX plans of Tata Steel that provided a sentimental push to peer stocks.
The S&P (Standard & Poor’s) BSE Sensex ended above 53,000, gaining 193.5 points or 0.37 percent. The NSE’s Nifty50 closed at 15,880, higher by 61 points or 0.39 percent.
The top gainers on the benchmarks were noted to be Tata Steel, Hindalco, Bajaj Finserv Ltd., JSW Steel, IndusInd Bank, United Phosphorus Ltd., Nestle India, Adani Ports, and HDFC Bank, soaring between 1 percent and 5 percent.
Meanwhile, Oil and Natural Gas Corporation, Shree Cement, Titan Company, Maruti Suzuki India, SBI Life, and Reliance India have been listed as the top laggards declining by 2 percent.
Investors have looked past Wall Street’s overnight weakness, hence, prioritizing developments that are stock-specific. Regarding broader markets, the Bombay Stock Exchange (BSE) MidCap, as well as Small Cap indices, have risen by 0.58 percent and 0.48 percent respectively.
Furthermore, the remaining key sectoral indices soared up to 0.6 percent each excluding the Nifty Auto Index which went down by 0.07 percent.