Index pivotals closed at a record high on Monday, led by shares of ICICI Bank, SBI and Axis Bank, who were among the top gainers on BSE as well as NSE today. BSE Sensex closed 135.73 points higher at 37,691.89, whereas the 50-scrip Nifty closed 26.30 points higher at 11,387.10.
Indian equity markets gained over 6% in July to reach record levels, whereby it scaled one of the best-performing markets globally. Combined factors including strong quarter earnings, fall in oil prices and further reduction in GST rates for about 88 items lifted investor sentiments. Overall, 29 companies constituted in Nifty have reported their June quarter results thus far with total reported Profit after tax growth of around 10% year-on-year.
Nifty PSU Bank Index led gains by 2.6% on the National Stock Exchange (NSE). Conversely, Nifty Pharma Index was the top sectoral loser on NSE, down by 0.97%.
Shares of HDFC Asset Management Company received an impressive debut in the stock market today. Shares were listed at a premium of 58% at Rs 1739 share apiece. Subsequently it rose about 65.5% to Rs 1,820 per share.
Stocks that touched new 52-week highs on NSE today: As many as 47 stocks, including GAIL (India), Birla Cable, GlaxoSmithKline, Pharmaceuticals, Graphite India, Havells India¸ NIIT Technologies and Page Industries among others hit new 52-week highs on NSE on Monday.