Markets hit fresh highs; Nifty above 19,500

13 Jul 2023 , 01:05 PM

Domestic equity markets are trading with substantial gains in Thursday’s afternoon session. Broader Indices touched new highs in today’s trade supported by better than expected quarterly earnings season.

On the sectoral front, IT stocks are trading with more than 2% gains, driven by upside in TCS and Infosys. Nifty Bank and Financial Services stocks are trading 1% higher. All other sectoral indices are in green, except Nifty Media and Pharma.

The new rally has occurred despite rising inflation remaining a concern. Sensex touched a new high of 66,064 points. While Nifty hit a new high of 19,567 points.

At around 1.00 PM, BSE Sensex is trading 566 points higher at 65,960. NSE Nifty is up by 156 points at 19,540.

On the gainers’ chart, Hindalco (+2.90%) is on top. Infosys (+2.58%) and TCS (+2.51%) are trading 2.5% higher. SBI Life (+2.00%) and LTI Mindtree (+1.89%) are adding to the rally.

Power Grid (-2.72%) is, so far, the biggest loser on Nifty index. Coal India (-1.64%) is trading about 2% lower. NTPC (-1.15%), UPL (-0.95%), and Maruti Suzuki (-0.83%) are down nearly 1%.

A total of 33 stocks advanced, and 17 declined on the nifty index today.