The Nifty 50 reached a fresh record high of 24,999.75 during the session, and the Sensex touched an all-time high of 81,908.43. However, profit booking at higher levels led to a flat close.
The Nifty 50 ended just 1 point higher at 24,836.10, while the Sensex closed 23 points higher at 81,355.84. This pattern of buying low and selling high is common in a market with high valuations.
Impact on the stock market
Sectoral indices ended the day with gains, led by Nifty PSU Bank, which rose by 2.25 %, followed by the Media index, up 1.80 %. Nifty Realty also showed strong performance, increasing by 1.43 %, along with Oil and Gas, which gained 1.04 %.
The Nifty Bank index ended 0.22 % higher, while the Private Bank index climbed 0.28 %.
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| Sector/Index | Performance |
| IT & BPM sector | -0.38% |
| Healthcare sector | 0.17% |
| Oil & Gas sector | 1.04% |
| Real estate sector | 1.43% |
| PSU Bank in India | 0.17% |
Top gainers today
| Company | Price | Change (%) |
| Divis Labs Share Price | 4,923.85 | 2.78 |
| BPCL Share Price | 337.90 | 2.77 |
| Larsen Share Price | 3,774.95 | 2.58 |
| Bajaj Finserv Share Price | 1,617.15 | 1.94 |
| UltraTechCement Share Price | 11,873.80 | 1.72 |
Top losers today
| Company | Price | Change (%) |
| Titan Company Share Price | 3,411.70 | -2.36 |
| Bharti Airtel Share Price | 1,481.35 | -2.18 |
| Cipla Share Price | 1,553.95 | -1.34 |
| ITC Share Price | 496.05 | -1.22 |
| Kotak Mahindra Share Price | 1,793.90 | -1.10 |
Market aftermath: Impact on stocks
UltraTech Cement rises on India Cements acquisition; industry impact and outlook
UltraTech Cement’s acquisition of India Cements is a strategic move to consolidate its position in the cement industry. Announced the acquisition of a 32.72% equity stake in India Cements for ₹3,954 crore at ₹390 per share, making UltraTech the majority shareholder with a 55.49% stake.
This deal, which follows an earlier 22.77% stake acquisition in June, boosts UltraTech’s capacity and market share, especially in South India. UltraTech Cement’s capacity is set to increase to 214 MT by FY27, doubling its capacity in the South to over 50 MT.
You may also read: UltraTech Cement’s bold move: A 23% stake in India Cements
BEL Q1 results: net profit soars 46.1% to ₹776 crore
Bharat Electronics Limited (BEL) showcased a robust performance in Q1FY25, with a 46.1% increase in net profit and a significant improvement in EBITDA margins. BEL’s strong earnings highlight its growth trajectory and operational efficiency.
The increase in revenue and profitability reflects the company’s ability to capitalize on market opportunities and optimize its operations. Investors are likely to view BEL’s performance positively, contributing to an upward trend in its stock price.
Also read : Bharat Electronics Q4 Results
IndusInd Bank gains 2% on Q1 results, analysts see re-rating potential
IndusInd Bank’s decent Q1 performance, despite missing estimates, underscores its resilience in a challenging market environment. The bank’s attractive valuations make it a favorable stock for investors, even though brokerages have lowered their target prices due to muted loan growth and softening asset quality.
The gradual re-rating of IndusInd Bank’s stock as the rate cut cycle progresses highlights the bank’s potential for future growth and improved financial performance.
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Crude oil price decline
Crude oil prices increased due to rising tensions in West Asia, which raised concerns about potential supply disruptions. Brent oil futures rose by 0.41% to $80.61 per barrel, and WTI futures increased by 0.30% to $77.39 per barrel.
On the Multi Commodity Exchange (MCX), crude oil futures were up by 0.22% to ₹6,492.
The advance estimate from the US Bureau of Economic Analysis showed a 2.8% increase in US GDP for Q2 2024, boosting energy demand expectations. Market participants are also closely watching upcoming US economic indicators and the Federal Reserve’s potential interest rate decisions, which could further influence crude oil prices.
Conclusion
July 29 showcased a dynamic day in the Indian stock market, marked by record highs, strategic acquisitions, strong corporate earnings, and sector-specific movements.
While the benchmark indices ended flat, the robust performances in midcap and smallcap segments, along with significant sectoral gains, highlighted the market’s resilience and varied investor sentiment.
As always, investors should stay informed and monitor sector-specific developments and global economic indicators to navigate the market effectively.
Stay tuned on StockGro for more updates on market trends.
