Top gainers, losers today: Sun Pharma, Tata Motors, M&M, Tech Mahindra; check full list
Nifty ended with losses on July 27, the last day of the Nifty's July series futures and options (F&O) contracts amid broadly positive global cues. The US Federal Reserve raised its benchmark lending rate on Wednesday to the highest level since 2001 to tackle above-target inflation, and signaled the possibility of further hikes ahead. The domestic market saw some volatility today.
Sensex opened 127 points higher at 66,834.12 against the previous close of 66,707.20 and rose 277 points to hit its intraday high of 66,984.17. However, the index failed to sustain gains and fell 646 points to hit the intraday low of 66,060.74. The index finally closed 440 points, or 0.66 per cent, lower at 66,266.82 while the Nifty ended at 19,659.90, down 118 points, or 0.60 per cent.
While the equity benchmarks faltered, the mid and smallcap indices bucked the trend. The BSE Midcap index ended 0.48 per cent higher at 29,995.94 after hitting its fresh all-time high of 30,090.66. The BSE Smallcap index ended with mild gains of 0.07 per cent at 34,379.25 after hitting its record high of 34,573.9.
Commenting on today's market performance, Ajit Mishra, SVP - Technical Research, Religare Broking Ltd. said, ‘’Markets reversed yesterday's gain on the monthly expiry and shed over half a percent. After the initial uptick, Nifty surrendered all its gain as the day progressed and final settled at 19659.90 levels,'' ‘’A mixed trend on the sectoral front kept the traders busy wherein auto, banking and oil & gas ended lower while pharma and realty posted strong gains.
The positive tone of broader indices offered further opportunities. We are in a consolidation phase so it is normal to see volatile swings. The key is to manage risk until the trend resumes,''
. Read more on livemint.com
