Stock market midday report: Sensex up 598 points, Nifty around 16,012
- Sensex is presently trading at 53833.51, up by 598.74 points or 1.12%
- Nifty is presently trading at 16012.75, up by 177.40 points or 1.12%
- Asian markets were trading mostly in green on Tuesday
In the midday session, Indian Equity benchmarks were trading near their intraday high points in late morning session, on the back of positive cues from other Asian markets. Domestic sentiments remained optimistic, as India’s dominant services industry expanded at the fastest pace in more than 11 years in June amid robust demand but stubborn inflation remains a concern as prices charged rose at the sharpest rate in almost five years.
Asian markets were trading mostly in green with the Nikkei 225 surging 259.41 points or 0.99% to 26,413.22, Hang Seng increased 122.42 points or 0.56% to 21,952.77, Jakarta Composite soared 101.40 points or 1.53% to 6,740.57, Taiwan Weighted strengthened 58.86 points or 0.41% to 14,275.92 and KOSPI rose 34.87 points or 1.52% to 2,335.21. On the flip side, Shanghai Composite declined 3.32 points or 0.1% to 3,402.11 and Straits Times trembled 12.57 points or 0.4% to 3,107.67.
The BSE Sensex is presently trading at 53,833.51, up by 598.74 points or 1.12% after trading in a range of 53,437.98 and 53,857.49. On the index, 27 stocks advanced while 13 stocks declined.
The broader indices were trading in green with the BSE Mid cap index up by 0.77%, while Small cap index was up by 1.22%. On the sectoral front, Metal was up by 2.10%, Utilities was up by 1.44%, Basic Materials was up by 1.43%, Power was up by 1.38% and Capital Goods was up by 1.24%, while there were no losing sectoral indices on the BSE.
The top gainers on the Sensex were Bajaj Finserv up by 2.53%, Tata Steel up by 2.26%, Power Grid up by 2.07%, Sun Pharma up by 1.99% and Dr. Reddy's Lab up by 1.79%. On the flip side, ITC down by 1.25%, Indusind Bank down by 0.07% and Maruti Suzuki down by 0.01% were the only losers.
The NSE Nifty is presently trading at 16,012.75, up by 177.40 points or 1.12% after trading in a range of 15,891.55 and 16,020.80. On the sectoral front, 44 stocks advanced while 6 stocks declined.
The top gainers on Nifty were Hindalco up by 3.48%, Bajaj Finserv up by 2.47%, Tata Steel up by 2.24%, Tata Motors up by 2.09% and Apollo Hospital Ent. up by 2.05%. On the flip side, Britannia down by 1.37%, ITC down by 1.32%, HDFC Life Insurance down by 0.30%, Maruti Suzuki down by 0.06% and Indusind Bank down by 0.05% were the top losers.