Indian Indices Continue Momentum; Sensex Ends 187 Points Higher

Tue, 7 Jul Closing

   Previous Close   

   09:30 am   

   12:30 pm   

   Closing   

Extending gains to the fifth consecutive session, Indian share markets witnessed volatile trading activity throughout the day and ended higher.

Benchmark indices recouped all the losses during closing hours and ended on a positive note.

Sentiment got a boost after the Ministry of Finance asserted that "green shoots" have started to emerge in the domestic economy.

In its monthly macroeconomic report, the ministry highlighted that total digital retail financial transactions via NPCI platforms rose sharply from Rs 6.71 lakh crore in April to Rs 9.65 lakh crore in May.

The report also highlighted the jump in consumption in petroleum products and the increase in the total value of e-way bills.

At the closing bell, the BSE Sensex stood higher by 187 points (up 0.5%). The NSE Nifty closed higher by 36 points (up 0.3%).

The SGX Nifty was trading at 10,740, down by 7 points, at the time of writing.

Both, the BSE MidCap index and the BSE SmallCap index ended up by 0.6%.

On the sectoral front, gains were largely seen in the IT sector and finance sector.

Oil & Gas stocks, on the other hand, witnessed selling pressure.

Asian stock markets ended on a mixed note today. As of the most recent closing prices, the Hang Seng ended down by 1.4% and the Shanghai Composite stood higher by 0.4%. The Nikkei ended down by 0.5%.

US stocks rose sharply on Monday as a rebound in US services industry activity in June and expectations of a revival in China's economy boosted optimism, helping investors look past a surge in new coronavirus cases in the United States.

The rupee is trading at 74.93 against the US$.

Gold prices are trading down by 0.2% at Rs 48,145 per 10 grams.

Speaking of the current stock market scenario, the last few months have witnessed the kind of shifts that most investors would recall as once in a lifetime.

The Sensex is up over 34% from the lows in March 2020. At that time, it had declined by over 20%. That seemed to suggest the start of a bear market.

What's Driving the Markets?

So, what's driving the markets? An important driver of this rally is the inflow from global funds, now that the global economies have opened the liquidity tap.

Investors and traders who are new to stock markets have had a superb experience over past three months as almost any and every stock has given them phenomenal returns.

The problem is that this experience may not be lasting unless investors now take a careful look at their portfolio and literally sanitize them to get rid of the unwanted elements.

In her latest video, co-head of Research at Equitymaster, Tanushree Banerjee shows three charts that every investor must see today, irrespective of whether you are an investor or a day trader, a novice or an expert in the stock markets.

Tune in to find out more...

Moving on, market participants were tracking hotel stocks today. Shares of companies engaged in hotels and restaurants business rallied by up to 20% today after the Maharashtra government allowed hotels to reopen from Wednesday.

Shares of Kamat Hotels were locked in upper circuit of 20%, while Royal Orchid Hotels, Speciality Restaurants, Chalet Hotels, EIH Associated Hotels, and Indian Hotels were up by more than 6%.

The Maharashtra government on Monday allowed hotels and other entities providing accommodation services outside containment zones to resume operations at 33% of their capacity from July 8.

In news from the banking sector, Bandhan Bank and Bajaj Finance were among the top buzzing stocks today.

Shares of Bandhan Bank jumped as much as 12% today after the bank reported healthy loan and deposit growth in the April-June quarter on a yearly basis despite nationwide Covid-19-induced lockdown.

The Kolkata-headquartered bank saw its deposits growing 35% year-on-year (YoY) to Rs 606 billion at the end of Q1FY21, compared to Rs 448 billion in Q1FY20. Sequentially, deposits grew 6% from Rs 570.8 billion seen in Q4FY20.

Meanwhile, loans and advances grew 18% YoY to Rs 743.3 billion in Q1FY21 as against Rs 631.6 billion in Q1FY20.

In a statement, the private lender said that subsequent to Unlock 1.0, the collection in Micro Banking loan vertical has shown positive traction from June 01, 2020.

There has been steady improvement in collection efficiency during the month of June 2020 and ended with 68% as on June 30, 2020. This number has further improved to 70% (resulting in effective moratorium of 30%) as on July 03, 2020.

Bandhan Bank share price ended the day up by 10%.

In other news, shares of Bajaj Finance rose up to 8% today after the non-banking finance company's (NBFC's) assets under management (AUM) under moratorium declined from 27%, at the end of April 2020, to about 15.5% at the end of June 2020.

On an absolute basis, the moratorium book declined 40-45% to Rs 210 billion.

In a business update to the exchanges post market hours, the NBFC said its customer franchise improved to 43 million at the end of June quarter of FY21 as compared to 36.9 million as of 30 June 2019.

AUMs stood at approximately Rs 1,380 billion at the end of Q1FY21 as compared to Rs 1,289 billion in the year-ago quarter.

The company's deposit book stood at approximately Rs 200 billion as of 30 June, 2020 compared to Rs 150.8 billion as of 30 June, 2019.

New loans, however, grew at a slower pace due to Covid-19 led lockdown and business disruption. New loans booked during Q1FY21 were 1.7 million as compared to 7.3 million in Q1FY20.

Bajaj Finance share price ended the day up by 7.8%.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers