The stock market ends with gains, Sensex clocks biggest rise in six weeks

| Updated: July 13, 2021 6:11 pm

Back on positive global cues and backed by banks and financial services shares, Indian benchmark indices managed to close higher after three days of losses. This is the highest single-day up move in the Sensex since May 12.

At the close of Tuesday, Sensex was 52,769, up 397 points while, Nifty closed up by 119.75 points to end the day at 15,812. In the index heavyweights, HDFC Twins, ICICI Bank, Reliance, and Axis Bank were the major gainers. On the other hand, Infosys, HCL Technologies, and Hindustan Unilever declined.

Though small-cap and mid-cap indices continued their rise, their gains were moderate. The BSE Mid-Cap index rose 0.01% and the BSE Small-Cap index gained 0.46%. On the sectors, banking, financial services, auto, and metals gained. However, profit-booking continued in media, information technology, and the FMCG shares.

Banking shares shine

On the back of moderating inflation numbers, industrial production rising, banking shares outshined in the trading. The Nifty Bank index closed up by 1.35 percent. ICICI Bank (up 2.75%), Axis Bank (up 2.31%), HDFC Bank (up 0.90%), Kotak Mahindra Bank (up 0.70%), IndusInd Bank (up 0.50%), Bandhan Bank (up 0.33%), State Bank of India (up 0.33%) and Punjab National Bank (up 0.12%) climbed.

In individual stocks public sector mining giant, NMDC gained 3.80 percent as the company board approved demerger of self from the steel business. Despite reporting results on expected lines, Mindtree shares fell by 0.14 percent on profit-booking. With inclusion in the derivatives segment of the market, Astra (up 0.71%) and Strides Pharma Science (up 2.80%) advanced.

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