Stock Market LIVE on Monday, July 29, 2024: Indian stock markets opened at record highs.
Stock Market LIVE on Monday, July 29, 2024: Indian stock markets opened at record highs influenced by positive global cues on Monday.
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BSE Sensex rallied as much as 0.51 per cent or 416.62 points to hit a fresh all time high of 81,749.34 levels. On the other hand, Nifty50 zoomed 0.58 per cent or 145.6 points to 24,980.45 levels.
NTPC, IndusInd Bank were the top gainers while Power Grid, Titan were the top laggards on BSE.
Similarly, on NSE, NTPC, BPCL were the top gainers while Dr Reddy’s, Tata Consumer were the top laggards.
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Broader markets were also buzzing in trade. Nifty SmallCap soared 0.92 per cent while MidCap was trading 0.53 per cent higher.
Barring FMCG, Pharma, all the sectors were trading in the green. Nifty PSU Bank was the top gainer, up 2.43 per cent.
Global Cues
In the Asia-Pacific region, markets saw gains as investors assessed US inflation data. The Nikkei surged 2.70 per cent, the Kospi increased 1.37 per cent, and the ASX200 rose 0.92 per cent.
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Furthermore, traders await a slew of economic data from major Asian economies. The Bank of Japan is anticipated to raise interest rates at its meeting on July 30, according to a Reuters poll. Additionally, China will release its July PMI data, and Australia will present its inflation figures ahead of the Reserve Bank’s monetary policy meeting on August 6.
In the US, stock futures rose slightly on Sunday evening ahead of a busy week of corporate earnings. However, on Friday, the S&P 500 closed 1.11 per cent higher, the Dow Jones gained 1.64 per cent, and the Nasdaq climbed over 1 per cent. Investors will also keep an eye on Fed interet rate decison on Wednesday.
