Sensex, Nifty Edge Higher To Scale New Record Highs

The Dalal-Street witnessed yet another day of the domestic equity benchmarks scaling fresh highs during the morning trade on Friday, July 16. The BSE Sensex opened higher by 111.99 points at 53270.84 and later marked a record high of 53,290, and the Nifty added 36.20 points at 15960.40.

Shares of ITC, HCL Tech, and HDFC were among the top gainers in the 30-share pack Sensex, adding nearly a per cent each in the morning deals. Overall, the Sensex saw advances in 23 scrips and declines in seven stocks.

Among the sectors, Pharma, FMCG, Metal and Energy stocks witnessed buying interest, while other sectors traded in the red during the morning trade on Friday. The Pharma index was trading relatively higher by a per cent led by shares of Sun Pharma, Cipla, Divis Labs, and Alkem Lab as they advanced 1-4 per cent each.

Experts are of a view that equity markets are cheering positive macro data points both on global and domestic front which is giving confidence to the investors of economic rebound and the strong kickoff of the Q1FY22 is also giving a positive direction to the indian markets.

Moving ahead, earnings momentum is likely to accelerate in FY22 as the pace of vaccinations picks up and the economy opens up further which will guide the market direction and also some stock specific action in the near future, experts added.

In the overall market breadth on Friday, nearly 1026 shares advanced, while 679 shares turned red at the time of filing in the NSE.