Markets extend rally; Nifty hits fresh high

4 Jul 2023 , 01:04 PM

Indian stock markets are trading with gains for fourth consecutive session in Tuesday’s afternoon session owing to strong buying in indices and reduction in monsoon deficiency. 

On the sectoral front, heavyweights Bank and Financial Services indices are trading with gains. Nifty Media is trading 1.5% higher. Nifty FMCG, Oil & Gas, and Pharma indices are trading marginally lower. All other sectoral indices are trading on the upside. India’s VIX is about 2% higher.

At around 1.00 PM, BSE Sensex is trading with a gain of 347 points at 65,552. NSE Nifty is trading 79 points higher at 19,401.

On Nifty, biggest gainers in today’s session are Bajaj Finance (+7.54%) and Bajaj Finserv (+5.84%). Bajaj Finance touched a new 52-week high after reporting 34% growth in new loans for Q1.

Hero MotoCorp (+2.77%) jumps ~3% on Harley Davidson ties. Titan (+1.57%) and SBI (+1.18%) are trading with an uptick of about 1%.

Eicher Motors (-5.93%) is the biggest Nifty loser with a decline of 6%. Bharti Airtel (-1.59%), Grasim Industries (-1.33%), ONGC (-1.26%), and Divis Lab (-1.00%) are the other laggards.

A total of 31 stocks advanced on the nifty index, and 19 declined on the nifty index.