Sensex Ends At 54,369, Nifty Tops 16259 Levels Led By Gains In Financial Stocks

Indian benchmark indices ended at a record high for the second consecutive day, with the Nifty settling higher by 0.8% at 16,259 points, while the Sensex ended with gains of 546 points or over 1% at 54,370. Most of the gains in today's session have been led by banking and financial services pack. Bank Nifty gained as much as 2.33%. Broaders markets however after clinching new highs were seen down in trade by over 1 percent.

Among the sectoral indices, the only sectors seeing traction have been the financial services and banking pack, while there was a sea of red across all sectors, led by the realty pack which suffered the most losses to the tune of 1.7% on the Nifty.

Maruti Suzuki in a note informed that owing to semiconductor shortage situation, Maruti's contract manufacturing company Suzuki Motor Gujarat Private Limited (SMG) has informed the company that the production this month shall partially be impacted.

SBI reported the highest ever quarterly profit of Rs. 6504 crore for the June ended quarter of FY22. The scrip of SBI after the results was trading higher by close to 4 percent and hit the 52-week high price of Rs. 467.45 per share. After the SBI results came in line with estimates, Nifty PSU Bank also turned into green.

Vodafone Idea shares plunged by a sharp 19% today and settled at a price of Rs. 6 per share on the NSE. This is after Kumar Mangalam Birla, promoter of the company in a letter to the government said that he was wanting to give up his stake in Vodafone-Idea to a state-run or "domestic financial entity" to ensure the company remains a going concern.

Meanwhile, the Indian currency in trade today appreciated to six-week high and last quoted at 74.195 per US dollar as IPOs attracted investors' money and on equities strength.

Furthermore, in the global markets, European markets traded on a positive note with German DAX up by 0.7% while French CAC gained as much as 0.53%.

GoodReturns.in