The Sensex rose 443 points, or 0.56%, to close at 79,476.19, while the Nifty 50 gained 131 points, or 0.55%, ending at 24,141.95.
The overall market capitalisation of firms listed on the BSE increased to nearly ₹443.1 lakh crore from ₹439.2 lakh crore in the previous session, adding about ₹3.9 lakh crore to investors’ wealth in a single day.
Impact on the stock market
All sectoral indices closed with gains except for Nifty PSU Bank (down 0.76%) and Realty, down 0.33%.
Nifty Media rose 2.42%, and IT increased 1.97%, leading the sectoral gainers. The Nifty Bank index gained 0.44%, Private Bank ended 0.52% higher, and Nifty Financial Services saw a healthy rise of 0.90%.
Sector/Index | Performance |
Information Technology | +1.97% |
Healthcare | +0.15% |
Oil & Gas | +0.38% |
Realty | -0.33% |
PSU Banks | -0.76% |
Today top gainers in share market
Company | Price | Change (%) |
Tech Mahindra share price | 1,472.10 | +2.92% |
Wipro share price | 527.35 | +2.43% |
Bajaj Finance share price | 7,276.75 | +2.27% |
Grasim share price | 2,726.40 | +2.10% |
UltraTech Cement share price | 11,904.65 | +2.03% |
Today top losers in share market
Company | Price | Change (%) |
NTPC share price | 369.75 | -2.27% |
SBI share price | 841.95 | -0.82% |
Eicher Motors share price | 4,635.55 | -0.80% |
Dr Reddys Labs share price | 6,353.70 | -0.76% |
Apollo Hospital share price | 6,140.50 | -0.73% |
Market aftermath: Impact on stocks today
GRSE surged over 10% and hit a record high
Garden Reach Shipbuilders & Engineers surged over 10% to a record high of ₹2,309 on July 1 after securing a $21 million contract to construct an advanced ocean-going tug for the Bangladesh government.
This year, shares have surged over 163%, compared to a 10% rise in the Nifty 50. The order will be executed within 24 months.
IREDA stock soars 6% on Q1 business update
IREDA shares surged over 6% on July 1 following a Q1 business update revealing a 382.62% YoY increase in loan sanctions to ₹9,136 crore and a 67.61% rise in disbursements to ₹5,320 crore.
The stock, now trading at ₹197.48 on NSE, is 525% above its IPO price of ₹32, significantly outperforming Nifty’s 10% gain this year. The company hit an all-time high of ₹215 on February 6.
Zomato gains 2%, nears 52-week high
Shares of Zomato rose 2% to ₹204 on July 1, nearing their 52-week high of ₹207, driven by reports of potential inclusion in the NSE Nifty 50 and entry into derivatives trading.
Approximately four crore Zomato shares traded on BSE and NSE. Revised SEBI criteria for F&O segment inclusion could see Zomato attracting $491 million in passive fund buying if added to Nifty 50. Zomato shares have surged over 63% this year, outperforming Nifty 50’s 10% gain.
Crude oil futures rise
Crude oil futures traded higher on Monday morning, driven by hopes for an early US interest rate cut. At 9:11 am, September Brent oil futures were up 0.49% at $85.42, and August WTI crude futures rose 0.52% to $81.96.
On the Multi Commodity Exchange (MCX), July crude oil futures increased 0.51% to ₹6,840, and August futures climbed 0.47% to ₹6,780.
Conclusion
In summary, July 1 was a bullish day for the Indian stock market as the Sensex and Nifty 50 posted strong gains driven by financial and IT sectors amidst positive global signals.
GRSE hit a record high on securing a significant contract, while IREDA and Zomato saw notable increases. Crude oil futures rose on expectations of US rate cuts.
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