Sensex, Nifty End Higher By 1% Each Led By IT & Banks
The Equity benchmark indices mostly traded higher on Thursday, July 22 backed by gains in the Banking and Financial names. The BSE Sensex closed with a gain of 638.70 points at 52,837.21, while the Nifty-50 added 191.95 points to close at 15,824.05. In the overall market breadth, 1251 shares advanced, while 540 scips declined in the NSE.
In the 30-share pack Sensex, 26 counters ended in the green and only four counters ended in the red. Shares of Bharti Airtel, Bajaj Finance, and Tech Mahindra surged 3-5 per cent each in the day's trade on Thursday.
"While volumes were in line with recent averages, advance decline ratio jumped sharply in the positive. Midcap and smallcap indices rose a little more than the Nifty," said Deepak Jasani of HDFC Securities.
In the broader markets, both BSE Midcap and Smallcap advanced over 1.5 per cent each in the intraday session. Shares of Jubilant Foodworks bagged the top gainer in the Midcap space as they surged over 10 per cent post strong Q1 results. Gland Pharma and JSW Energy were other top gainers, advancing over seven and nine per cent, respectively.
On the earnings front, Hindustan Zinc's Q1 net profit jumped 45.9 per cent at Rs 1,983 crore against Rs 1,359 crore Y-o-Y. Bank of Maharashtra also reported a massive growth as the bank's profit jumped to Rs 208 crore.
Shares of Reliance Industries will be in major focus tomorrow as the company will announce their Q1 earnings tomorrow and other announcements are also likely to happen, experts said.
What's happening in the primary markets?
Zomato is likely to advance its listing date and the company is said to hit the bourses tomorrow, July 23. Earlier, the company was about to list on the exchanges on July 27. However, the share allotment in demat accounts will be completed today. In another development, Anand Rathi Wealth Limited has also filed its DRHP with the SEBI.
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