The domestic stock market lost its momentum after opening at a record high on Monday and closed on a flat note at the end of trading. The BSE Sensex closed 23 points higher at 81,356. The index touched an all-time high of 81,908.43 during early trade. The NSE Nifty closed 1 point higher at 24,836. The index hit a record high of 24,999.75, just 0.25 points behind 25,000. Out of the 50 stocks listed on the Nifty 50, 25 stocks closed with the biggest losses with Bharti Airtel, Titan, Cipla, ITC and Tata Consumer being the top losers. In contrast, 25 stocks closed higher, while Divi’s Labs, BPCL, Larsen & Toubro, Bajaj Finserv and Mahindra & Mahindra continued to lead the gains.
These sectoral indices rose
According to the news, mid-cap stocks outperformed others among the broader indices. The Nifty Midcap 100 index touched a new record high of 58,455.10. The index closed at 58,364.65 with a gain of 1.03 percent. Along with this, the Nifty Smallcap index also closed with a gain of 1 percent. Talking about other sectoral indices, PSU Bank, Media and Realty indices rose by 2.25 percent, while FMCG, IT and select financial services declined.
Investors had great earnings
The total market capitalization of BSE-listed companies rose to nearly ₹460 lakh crore from nearly ₹457 lakh crore in the previous session. This made investors richer by nearly ₹3 lakh crore in a single session. Global peers remained largely positive, while investors await the outcome of the US Federal Reserve, Bank of England (BOE) and Bank of Japan (BOJ) policy meetings this week. The US Fed is expected to keep interest rates steady on July 31, but may hint at a rate cut at its next policy meeting in September.
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