Indian equity indexes gained for the sixth consecutive day on the weekended Friday, supported by gains in banking and financial stocks. As foreign fund investments in equities increased, domestic indices reached a seven-week high.
The 30-share BSE Sensex rose 390 points, or 0.70 percent, to close at 56,072, while the wider NSE Nifty rose 114 points, or 0.69 percent, to 16,719. Mid and small-cap stocks finished mixed, with the Nifty Midcap 100 remaining flat and small-cap up 0.37 percent.
The NSE's 11 sector indicators finished in the green. Nifty Bank and Financial Services sub-indices outperformed the NSE platform, surging as much as 1.49 percent and 1.55 percent, respectively. Nifty IT and Nifty Pharma, on the other hand, plummeted as high as 0.62 percent and O.27 percent, respectively.
The highest Nifty gainer is UltraTech Cement, whose stocck rose 4.90 percent to 6,431.20 after posting a 28% increase in net revenue for the quarter ended June. Grasim, UPL, HDFC, and HDFC Bank were also winners. On the BSE, the overall market breadth was marginally positive, with 1,787 shares rising and 1,535 falling.
On the BSE, top gainers were UltraTech Cement, HDFC twins, Axis Bank, ICICI Bank, Titan, Kotak Mahindra Bank, Hindustan Unilever, Sun Pharma, Nestle India, Reliance Industries, and M&M, with their shares rising as much as 5.03 percent.
On the other hand, Infosys, NTPC, PowerGrid, Wipro, IndusInd Bank, Tech Mahindra, HCL Technologies, TCS, Bajaj Finance, Bajaj Finserv, Asian Paints, and Bharti Airtel, all finished in the red.
FPIs withdraws Rs4,000 cr from equities in July