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BW Businessworld

D-Street Ends Higher Amid Monthly Expiry

"We can expect the market to reach the higher levels of 16100-16200 in the weeks to follow," experts said.

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Indian markets ended the losing streak following upbeat Asian market peers and continued their positive momentum throughout the day amid monthly expiry. The Metal and Financial stocks led the rally in the markets on Thursday, July 29.

At close, the Sensex was up 209.36 points at 52653.07, and the Nifty was up 69.10 points at 15778.50. Shares of Tata Steel bagged the top gainer as they advanced over six per cent, while HCL Tech, SBI, and Bajaj Finserv gained 2-4 per cent each.

Among the sectors, the Auto, Pharma, and FMCG dipped red, while the Metal index outperformed as the index gained over five per cent. Shares of Hindalco jumped 10 per cent in the metal space, Vedanta, SAIL, and NALCO climbed 6-8 per cent.

Commenting on the investor sentiment, experts said, "Investors’ remain energized as Chief Economic Adviser (CEA) stated that India is expected to hit a growth rate of 6.5-7% in 2022-23 and accelerate further to 8% in the subsequent years on the back of reforms undertaken by the government."

In the overall market breadth, 1781 shares advanced, 1170 shares declined, and 109 shares were unchanged.

Moving ahead, experts feel that the global sentiment remains positive, and we can expect the market to reach the higher levels of 16100-16200 in the weeks to follow.

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