The domestic stock market opened with a gain on Monday, the first day of the trading week, but closed flat. The 30-share BSE benchmark Sensex closed at 80424.68, down 12.16 points, while the Nifty closed at 24,572.65, up 31.50 points. Hindalco, BPCL, Tata Steel, Shriram Finance and LTI Mindtree were the top gainers in Nifty 50 during today’s trading. M&M, Bajaj Auto, Axis Bank, IndusInd Bank and Tata Motors were the top gainers in Nifty 50.
There was growth in these sectors
Barring auto and bank, all other indices gained during the day, with healthcare, IT, metal, oil & gas, power, telecom, media rising by 0.5-2 per cent. The BSE Midcap index gained 0.5 per cent, while the Smallcap index gained one per cent. During the trading session, the Nifty Midcap 100 closed up 0.29%, and the Nifty Smallcap 100 closed up 1.74%. This was an outperformance of the benchmark indices. Against the US dollar, the Indian rupee closed 8 paise higher at 83.87 per dollar on Monday as against Friday’s 83.95.
These companies were also in the news
According to a Moneycontrol report, NIBE Limited signed an MoU with the Maharashtra government for construction of shipyard infra in Ratnagiri. Apart from this, Mishra Dhatu Nigam has received an order worth Rs 285 crore. ONGC Videsh got a 16-year contract extension for oil and gas production.
crude oil situation
Experts say crude oil prices fell on Monday due to concerns over oil demand in China. Imports fell 8% in July after an 11% drop in June, while renewed ceasefire talks between Hamas and Israel, backed by the US, Qatar and Egypt, have also reduced the risk premium. WTI is trading around $75.10, down 0.53% from its previous close. The escalation of the Russia-Ukraine war has once again created supply risks.
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