Stock market put up another record close,led by metal,oil&gas,financials
Ira Singh
3 July’23
The Indian equity benchmark indices formed another bull candle to end record closing high levels on Monday with Sensex crossing 65,000 for the first time led by metal, oil & gas and financials.
At close,the Sensex was up 486.49 points or 0.75 percent at 65,205.05, and the Nifty was up 133.50 points or 0.70 percent at 19,322.55.
Stocks and Sectors
Grasim Industries, ITC, BPCL, Reliance Industries and Bajaj Finance were biggest gainers on Nifty, while the losers included Bajaj Auto, Power Grid Corp, Sun Pharma,Cipla and Dr Reddy’s Laboratories.
On the sectoral front,metal,oil&gas,FMCG and PSU Bank are up 1-3 percent,while Information Technology and Pharma indices are down 0.5-1 percent, according to sources.
The BSE midcap index was up 0.3 percent and smallcap index rose 0.5 percent.
On 3rd July’23, the Indian rupee rises 8 paise to close at 81.96 against the US dollar,as sustained foreign fund inflows and a bullish trend in domestic equities boosted investor sentiments.
Experts Take:
Experts believe “The market’s record breaking momentum continued as the robust June GST collections, and the monsoon covering most parts of the country in last few days brought cheers to investors.The rally has been mostly due to strong foreign fund inflows and India performing well on most of the economic parameters could further strengthen the fund flows in the near term.
Technically, the Nifty hovered between 19250 to 19335 price range, with the short term technical set up still in to the positive side. However, due to temporary overbought conditions we could see some profit booking at higher levels. For traders, 19250-19180 would be the key levels to watch out while 19400-19435 could act as a crucial resistance zone.”
Market experts have recommended six stocks to buy for Monday-Naukri, Sun Pharma, Indiabulls Housing Finance, South Indian Bank, Reliance, Piramal Pharma.
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