Stock market bounces back; Sensex gains 0.5%, Nifty settles 100 points higher

Stock market bounces back; Sensex gains 0.5%, Nifty settles 100 points higher

Ira Singh
31 July’23

The Indian equity benchmark indices rebounded by over half a per cent on Monday, led by buying in major stocks like Reliance Industries and Tata Consultancy Services, as well as strong global trends.

At close, the Sensex was up 367.47 points or 0.56 percent at 66,527.67, and the Nifty was up 107.80 points or 0.55 percent at 19,753.80.

Stocks and Sectors

NTPC, Power Grid Corporation, Adani Ports, ONGC and Hindalco Industries were the biggest gainers on Nifty, while losers included Apollo Hospitals, Britannia Industries, HDFC Life, Divis Labs and Bajaj Finance.

On the sectoral front, auto, oil & gas, power, metal, capital goods and information technology gained 1-2 percent, while the FMCG index shed 0.5 percent.

The BSE Midcap and Smallcap indices rose 1 percent each.

On 31st July’23,the Indian rupee ends flat to close at 82.24 against the US dollar amid a strong greenback against major rivals overseas and rising crude oil price.

Experts Take:
Market experts have recommended six stocks to buy for Monday-Bajaj Auto, HAL, M&M, ICICI Bank, Reliance Industries and HCL Technologies.