Stock market gains for 2nd day,Sensex settles 232 points higher, Nifty closes at 19,597

Stock market gains for 2nd day,Sensex settles 232 points higher, Nifty closes at 19,597

Ira Singh
7 Aug’23

The Indian equity benchmark indices ended the session near day’s high on Monday,supported by information technology, healthcare and realty stocks,amid caution in a data-heavy week that includes U.S. inflation data and the Reserve Bank of India’s monetary policy decision.

At close, the Sensex was up 232.23 points or 0.35 percent at 65,953.48, and the Nifty was up 80.30 points or 0.41 percent at 19,597.30.

Stocks and Sectors

Divis Laboratories, Mahindra & Mahindra, SBI Life Insurance, LTIMindtree and Adani Ports were among the biggest gainers on Nifty, while losers included Britannia Industries, Tata Motors, Bajaj Auto, State Bank of India and Axis Bank.

On the sectoral front, healthcare and information technology indices were up 1 percent each, while the realty index added 0.5 percent. However, the PSU Bank index fell 0.6 percent.

BSE midcap index closed the day with 0.5 percent gain and smallcap index was also up by 0.25 percent.

On 7th Aug’23,the Indian rupee gained 5 paise to close at 82.76 against the US dollar tracking positive domestic equities.However, sustained foreign fund outflows and a stronger American currency in the overseas market dented investor sentiments, forex traders said.

Experts Take:
Market experts have recommended six stocks to buy for Monday- LT, sun Pharma, Wipro, ICICI Bank, Bharti Airtel and Tata Chemicals.