Indian stock markets are showing no signs of slowing down, as S&P BSE Sensex and Nifty 50 closed their indexes in green for the 5th consecutive session.
Stocks of companies which are in the business of FMCG goods and Information Technology performed considerably well on Thursday.
S&P BSE SENSEX gained 284.42 (+0.51%) points to close the market at 55,681.95. The benchmark index of BSE, which closed at 55,397.53 points yesterday, opened today at 55,391.93.
Indus Ind Bank (+7.88 %), Bajaj Finance (+3.27 %), Bajaj Finserve (+2.42 %), Asian Paints (+1.91 %) and Tech Mahindra (+1.59 %) were top gainers in the index.
Shares of Indus Ind Bankgained 69.25 rupees to conclude the trading at 948.15. The Mumbai-based bank reported an increase of 64.4% in net profit in the first quarter of FY22, compared to first-quarter earnings last year.
The net profit of Indus Ind Bank rose to Rs 1,603 crore in the quarter ended in June. Last year, the net profit of the bank was Rs 975 crore in the first quarter.
Apart from Indus Ind Bank, banking stocks such as Axis Bank (+1.50 %), State Bank of India (+0.68 %) and ICICI Bank (+0.46 %) gained today at the end of the trading session.
Top Losers were Dr Reddy’s Laboratories (-1.89%), Kotak Bank (-1.32%), Reliance Industries (-0.56%), and HDFC Bank (-0.34%).
Analysts are surprised as to why stocks of Reliance Industries finished trading in red today as there is a positive outlook towards 1st quarter earnings of the company. Reliance Industries is the largest company in India in terms of market capitalization.
The Benchmark Index of the National Stock Exchange, Nifty 50, extended its gaining streak to 5th day in a row as the index gained 0.51% on Thursday. Nifty 50 increased by 84.40 points to conclude the trading at 16,605.25.
Top Gainers in the index were Indus Ind Bank (8.10%), Bajaj Finance (3.29%), TATA CONSUMER PRODUCTS LIMITED (2.96 %), UPL LIMITED (2.89%) and LARSEN & TOUBRO LIMITED (2.63%).
Top Losers in Nifty 50 on Thursday are Dr Reddy’s Laboratories (-1.90%), SBI Life Insurance (-1.35 %), Kotak Bank (-1.24 %), Cipla (-1.17%)and Reliance Industries (-0.68 %).
Out of 50 stocks in the index, 42 stocks advanced to gain higher share value, while 8 stocks ended their markets in the red.
Fast Moving Consumer Goods index on NSE, Nifty FMCG gained 332.85 (0.79%) points on Thursday to close the market at 42,283.00. Top gainers.
The top gainer in the index was United Spirits Limited, which gained 27 rupees per share to close the market at 843.85 rupees per share. Thus was an increase of 3.31 %.
In sectoral, indexes, Nifty PSU Banks came at the top by increasing 1.63% in stock value to end the market at 2,771.35 points.
In Asia, Hang Seng Hong Kong and Shanghai SE Composite Index declined by -1.51% and -0.99% while Nikkei 225 and Taiwan TSEC 50 Index increased by +0.44% and +1.39% respectively.
In Europe, FTSE 100 (+0.09%) and CAC 40 (+0.27%) gained on Thursday while DAX (-0.27%)
S&P 500 and Dow Jones Industrial Average are trading in the green as of 21 July, 12:47 pm EDT.