The benchmark indices gain after losses in the previous month end. Sensex in July end was dragged down to 36k after touching 38k. Yesterday the market saw positive figures and rallied again with Sensex back on 38000 earlier this morning and Nifty hitting 11225 as day’s high.
The Automotive sector and Metals outperform today also led by a strong support of Banking stocks, The market observed gains with all major stocks trading higher also taking the market sentiment in the upward direction.
At 12:29 IST, the Sensex was up 54.44 points or 0.14% at 37742.35, and the Nifty was up 22 points or 0.20% at 11117.30. About 1427 shares have advanced, 869 shares declined, and 119 shares are unchanged. However, The indices cleared the early gains of early hour and are now trading flat.
The Auto and Metal stocks were on the upward run with Hindalco,Tata Steel, JSW Steel , Maruti Suzuki, Eicher motors being the top gainers of Nifty. At 1 pm IST – Hindalco trading higher by 6.38%, JSW steel up by 2.19%, Tata Steel adding 4.58%, Maruti Suzuki and Eicher Motors both over 2% each.
Bank Nifty in the earlier trade jumped massive by 400 points as Axis Bank and IndusInd Bank on the top gainers list. At 1 pm IST, Nifty Bank was trading at 21654 after touching the day’s high of 21936.50 earlier today.
Axis Bank has added nearly 10 rupees or up by over 3 percent reaching the day’s high at Rs 446.85. RBL Bank surged 5% to reach the day’s high at Rs 177.20 also the top gainer in the banking index.
