Nifty Soars Above 19,500 as Sensex Rallies 340 Points in Bullish Session

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July 6th Thursday: A Day of Records for Indian Markets

The Indian stock markets continued their stellar performance on July 6th, setting new records and crossing key milestones. The Sensex closed at an all-time high of 65,785.64, while the Nifty conquered the 19,500 mark for the first time ever. The rally was driven by broad-based buying across sectors, especially power, oil & gas, and realty.

The markets shrugged off a weak opening and gained momentum as the day progressed, ending near the day’s peak. The positive sentiment was supported by strong global cues, easing COVID-19 cases, robust corporate earnings, and hopes of further economic recovery.

The investors were rewarded with a whopping Rs 1.77 lakh crore increase in their wealth, as the market capitalization of BSE-listed companies reached Rs 301.67 lakh crore, the highest ever.

Some of the top gainers on the Nifty were M&M, Apollo Hospitals, Power Grid Corporation, Reliance Industries, and Tata Motors, which rose between 2.5% to 4%. On the other hand, some of the laggards were Eicher Motors, HDFC Life Insurance, Maruti Suzuki, HCL Technologies, and Bajaj Finance, which fell between 0.5% to 2%.

The midcap and smallcap indices also participated in the rally, rising 0.8% and 0.7% respectively. Some of the notable performers in these segments were Adani Total Gas, Adani Transmission, Indraprastha Gas, Max Healthcare, and Tata Elxsi.

The market breadth was positive, as out of 3,144 stocks traded on the BSE, 1,827 advanced, 1,063 declined and 254 remained unchanged.

The July 6th Thursday was a day of records for the Indian markets, as they scaled new heights and displayed resilience and optimism. Investors can hope for more such days in the future, as the economy recovers from the pandemic and corporate earnings improve. However, they should also be cautious of any volatility or correction arising from external or internal factors. As always, it is advisable to invest with a long-term perspective and diversify one’s portfolio.

Disclaimer: This blog post is for informational purposes only and does not constitute any investment advice or recommendation. The author is not a financial expert or professional and does not guarantee the accuracy or completeness of the information provided. The readers should research and consult their financial advisors before making any investment decisions. The author is not responsible for any losses or damages arising from using or relying on this blog post.

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