Sensex rallies 138 points, Nifty ends above 15,850; banks, realty stocks gain

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Indian benchmark equity indices settled higher in a volatile session on Friday led by gains in banks and realty stocks. After hitting an intraday high of 53,114.70, Sensex ended the week 138 points or 0.26% higher at 52,976. Nifty closed at 15,856, up 32 points or 0.2%.

“Domestic indices continued to advance ahead tracking rising global risk appetite and higher domestic inflows from local investors. Earnings season continued to pump in optimism in India & global markets while the Fed is set to deliberate their easy-money policy in the meeting ahead. Attractive IPOs, Banking and realty stocks attracted domestic buyers while mid and small-cap traded mixed,” said Vinod Nair, Head of Research at Geojit Financial Services.

New listing

Zomato delivered a fast and mouth-watering stock market debut at Rs 116 per share marking a premium of 52.63% or Rs 39, over its issue price Rs 76 per share on the NSE. At the end of session, the delivery giant settled at Rs 125.30 higher by 64.87% or Rs 49.3 per share. And on an intraday basis, the stock made a high of Rs 138.90 apiece.

Gainers & losers

Sectoral strand

Barring Nifty Auto (down 0.34%) all other sectoral indices ended in the green. Nifty Realty index advanced 1.29% Metal, while Nifty Bank and Nifty FMCG indices rose 1.03% and 0.81% respectively. Nifty IT, Nifty Pharma and Nifty Metal indices were up in the range of 0.09-0.40%.

Broader market

Broader markets ended mixed. BSE MidCap index closed negative bias of 0.07% to 23,021. On the other hand, the BSE SmallCap index settled at 26,425 up 0.11%.

Market breadth turned negative as 1,103 shares declined on the NSE, while 842 advanced and 324 remained unchanged.

Global markets

European shares rose across the board while Asian stocks were mixed on Friday, 23 July 2021. as investors monitored Chinese tech stocks in Hong Kong after regulatory concerns resurfaced. Markets in Japan were closed on Friday for a holiday.

As per reports, Beijing is considering harsh penalties on ride-hailing giant Didi. The penalties being planned range from a fine likely bigger than the record $2.8 billion Alibaba paid earlier this year to even a forced delisting after Didi’s IPO last month.