Sensex and Nifty Hit Record Highs, Led by ICICI, Infosys, and Airtel

Leading as Sensex and Nifty Hit, ICICI Bank, Infosys, and Airtel Reach New Highs: Stock Market Highlights The day Tuesday, July 16, 2024, was noteworthy for the Indian stock market when the BSE Sensex and NSE Nifty50 reached new highs during the results season of the June quarter. On July 12, 2024, the BSE Sensex rose to an unheard-of 80,895.6, surpassing its previous highest point of 80,875. The Nifty50 also set a record high at 24,656. With stocks ranging from 0.5% to 2%, key companies driving these increases were Bharti Airtel, Infosys, Tata Steel, Tech Mahindra, Mahindra & Mahindra, Hindustan Unilever, and ICICI Bank. The BSE MidCap and SmallCap indices, which rose by 0.56% each, also showed more general market growth. Among NSE sector indices, Nifty Realty shone out with a 1.3% gain; Nifty PSU Bank lost 0.26%.Launching its first public offering on the IPO market, Kataria Industries sold 5.68 million equity shares in an attempt to raise Rs 54.58 crore. The gray market premium corresponds to a 52% listing gain.After impressive Q1 results, Styrenix Materials saw its shares reach a record high of Rs 2,729, a 15% rise in intraday trading on the BSE. Supported by strong domestic stocks and foreign capital inflows, the rupee climbed 4 paise to 83.57 against the US dollar. After Lemon Tree Hotels opened its first hotel in Jharkhand, stock value skyrocketed at the establishment. Castrol, IRFC, and Oil India have jumped to 50% thus far in July. Based on Q1 performance, analysts project Infosys will dominate the IT industry with a 10% year-over-year earnings increase. Contrarily, Rail Vikas Nigam Limited (RVNL) dropped 3.37% to Rs 605. Analysts have highlighted several stocks for possible returns in today’s session, including UTI AMC, Oracle Financial Services Software (OFSS), Max Financial Services, KFin Technologies, and Bajaj Auto. Strong investor attitudes and earnings announcements drive today’s market performance, highlighting the remarkable performance of several sectors and particular stocks. Investors should pay considerable attention to these changes and study professional trading ideas.

Leave a Reply

Your email address will not be published. Required fields are marked *