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  5. Stock market closing: Sensex inches up over 200 points to close in green, Maruti, JSW Steel amongst top gainers

Stock market closing: Sensex inches up over 200 points to close in green, Maruti, JSW Steel amongst top gainers

Stock market closing: Sensex inches up over 200 points to close in green, Maruti, JSW Steel amongst top gainers
Stock Market2 min read
Both indices, the Sensex and Nifty closed the day in green, with the Sensex inching up around 285 points to close the day at 81,741.34 points, while Nifty was up by 0.38% to close July 31st, 2o24 at 24,951.15 points.

Maruti (up by 3.89%), JSW Steel (up by 3.43%), HDFC Life (up by 2.80%), Asian Paints (up by 2.74%) and NTPC (up by 2.19%) were amongst the top gainers for the day. On the other hand, Britannia (down by 0.72%), Dr. Reddy (down by 0.71%), Apollo Hospitals (down by 0.65%), Tata Consumers (down by 0.58%) and Reliance (down by 0.57%) were amidst the top laggards.

Among broad market indices, India VIX closed the day up by 3.26%. Except for smallcap indices, which ended the day in red, all other broad market indices closed the month in green. Media, metal, pharma and mid-small healthcare inched up by a little over 1% each during the day. Realty, PSU bank and Oil and Gas ended the day in red.

Out of the 2,789 stocks traded during the day, 1,444 saw advances, while 1,272 saw declines. Another 73 stocks remained unchanged. 206 stocks hit their 52-week high today, while 20 stocks also touched their 52-week low. 145 stocks touched the upper circuit, or the maximum permissible price during a singular trading session today, while 62 remained in the lower circuit.

Shrikant Chouhan, Head Equity Research, Kotak Securities highlights that today, the benchmark indices witnessed lackluster activity. Nifty ends 93 points higher while the Sensex was up by 285 points. Among Sectors, media, metal and pharma indices tallied over 1%, whereas some profit booking were seen in PSU banks and reality stocks.

"Technically, in this week so far market witnessed range bound activity. On the lower side, it is consistently taking support between 24,800-24,850 / 81,100-81,400 on the flip side, witnessed profit booking between 24,950-24,980 / 81,750-81,800. We are of the view that the current market texture is non-directional perhaps traders are waiting for either side breakout. On the higher side, above 24,980/81,800 the market could rally till 25,050-25,125 / 82,200-82,500. However, below 24,800/81,100 the sentiment could change. Below the same, market could retest the level of 24,700-24,675 / 80,800-80,500", he continued.

Aditya Gaggar, director of Progressive Shares noted that after some movement in the morning trade, the index remained rangebound for the rest of the day to settle the last day of the month on a positive note at 24,951.15 with gains of 93.85 points.

"Among the sectors, metal was the top performer followed by pharma and media while the PSU banking sector underperformed with a loss of 0.43%. A mixed trend was noticed in the broader markets where midcaps outperformed the frontline index while small caps ended the session in red. The index is heading towards the psychological barrier of 25,000 and a sustainable move above the same will push the Index further higher to 25,200 whereas on the downside 24,800 will be considered as immediate support", said Gaggar.

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