Market Wrap: Sensex, Nifty snap three-day losing run; investors richer by nearly ₹2 lakh crore in a day
US Federal Reserve is now possible," a Reuters report said. Domestically, investors cheered the healthy June quarter earnings of select heavyweights, including State Bank of India (SBI) and Mahindra and Mahindra. While SBI reported a 178.25 per cent year-on-year (YoY) rise in net profit to ₹16,884 crore, Mahindra & Mahindra's standalone net profit registered a sharp growth of 97.6 per cent YoY.
Sensex opened 213 points higher at 65,453.55 against the previous close of 65,240.68 and rose about 559 points to hit the intraday high of 65,799.27. The index finally closed 481 points, or 0.74 per cent, higher at 65,721.25 while the Nifty closed at 19,517, up 135 points, or 0.70 per cent. HDFC Bank, Reliance Industries, Infosys, TCS and Bharti Airtel were the top contributors to the gains in the Sensex index.
Mid and smallcap indices slightly underperformed the benchmark index. The BSE Midcap index closed with a gain of 0.65 per cent while the Smallcap index ended 0.66 per cent higher. The overall market capitalisation of the firms listed on the BSE rose to ₹304.1 lakh crore against ₹302.3 lakh crore in the previous session, making investors richer by ₹1.8 lakh crore in a single session.
Over 250 stocks, including Cipla, Lupin, Marico, Info Edge (Naukri) and Zomato, hit their fresh 52-week highs in intraday trade on BSE. For the week, Sensex and Nifty fell 0.66 per cent each while the BSE Midcap index ended flat. The BSE Smallcap index clocked a gain of 1.51 per cent.
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