Sensex, Nifty 50 snap 2-day losing run led by banking heavyweights— 10 key highlights from Indian stock market today

Strong gains in banking heavyweights like HDFC Bank and ICICI Bank helped the Indian market benchmarks — the Sensex and Nifty 50 — rebound on Monday, July 21, ending a two-day losing streak amid mixed global cues.

The Sensex rose 443 points, or 0.54 per cent, to close at 82,200.34, while the Nifty 50 ended 122 points, or 0.49 per cent, higher at 25,090.70.

The BSE Midcap index rose 0.55 per cent, in sync with the benchmark index. However, the BSE Smallcap index ended flat.

The overall market capitalisation of BSE-listed firms rose to ₹460 lakh crore from ₹458.4 lakh crore in the previous session, making investors richer by nearly ₹2 lakh crore in a single session.

Market benchmarks ended with decent gains, led by gains in banking heavyweights HDFC Bank and ICICI Bank after their Q1 results came better than expected. Shares of Eternal also contributed significantly to the benchmarks' rally ahead of the company's Q1 results.

However, a fall of over 3 per cent in Reliance shares capped the gains for the benchmarks. TCS, ITC, and HUL were other significant drags.

Global cues were largely mixed, as Trump tariffs remain a key concern for markets globally.

"Positive results from banking majors supported the market to rebound after many days of consolidation. The market remains highly reactive to earnings, indicating that investors remain focused on the earnings front to aid valuation. The manufacturing segment gained today as the government is reviewing the scope of expanding the infrastructure spending to support growth," Vinod Nair, Head of Research, Geojit Investments Limited, observed.

28 components of the index ended higher, with Eternal (up 7.50 per cent), ICICI Bank (up 2.71 per cent), and HDFC Bank (up 2.25 per cent) closing as the top gainers.

Shares of Reliance Industries (down 3.24 per cent), Wipro (down 2.27 per cent), and IndusInd Bank (down 2.19 per cent) ended as the top losers in the index.

Nifty Bank and Financial Services hogged the limelight, ending with solid gains of 1.19 per cent and 1.62 per cent, respectively.

Nifty Private Bank also clocked a healthy gain of 1.26 per cent, but the PSU Bank index slipped 0.62 per cent.

Nifty Metal index rose 1.03 per cent. On the flip side, the FMCG index slipped 0.50 per cent.

Vodafone Idea (22.83 crore shares), YES Bank (12.68 crore shares), and Jaiprakash Power Ventures (12.56 crore shares) were the most active stocks in terms of volume on the NSE.

Tainwala Chemical and Plastic, Astec LifeSciences Ltd-RE, Orissa Bengal Carrier, Saurashtra Cement, and Anuh Pharma were the five stocks that jumped over 10 per cent on the NSE.

Paramount Dye Tec, IFB Agro Industries, Electrotherm (India), and Websol Energy System were among the 87 stocks that hit their upper circuits on the NSE.

On the other hand, 76 stocks, including Jaiprakash Associates, Brightcom Group, and Indo Thai Securities, hit their lower circuits.

Out of 4,327 stocks traded on the BSE, 1,959 advanced, while 2,188 declined. Some 180 stocks remained unchanged.

HDFC Asset Management Company, UltraTech Cement, Muthoot Finance, Schaeffler India, and UPL, were among the 161 stocks that hit their 52-week highs in intraday trade on the BSE.

(This is a developing story. Please check back for fresh updates.)

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stories by Nishant Kumar

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

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