Equity Markets Extend Rally, Banking Sector Shines

29 Jul 2024 , 04:12 PM

Indian equity markets started the trading week on a strong note on July 29, continuing the previous session’s record-breaking performance. The benchmark indices, Sensex and Nifty 50, reached new all-time highs, driven primarily by robust earnings from the banking sector.

At the close of trading, the BSE Sensex rose 23.12 points, or 0.03%, to 81,355.84, while the Nifty 50 edged up by 0.01 points, or 1.25%, to 24,836.10. During the day, the Nifty 50 and BSE Sensex hit record highs of 24,999.75 and 81,908.43, respectively.

The markets opened strong, buoyed by positive global cues, but gains were trimmed in the second half of the session. Among the top Nifty gainers were Divis Labs, L&T, BPCL, Bajaj Finserv, and M&M. The top losers included Titan Company, Bharti Airtel, Cipla, ITC, and Tata Consumer Products.

Sectorally, IT, FMCG, and telecom saw declines of 0.4% each, while auto, banking, media, capital goods, oil & gas, power, and realty sectors rose between 0.5% and 2.5%. The BSE midcap index climbed nearly 1%, and the smallcap index gained 1.2%.