The Stock market soared to new heights as the BSE Sensex surged over 622 points to cross 80,500, while the Nifty 50 ended above 24,500. The Nifty 50 closed at 24,502.15 up 0.77% or 186.20 points with a day range of 24,331.15 low to 24,592.20 high. The Sensex finished at 80,519.34 gaining 0.78% or 622 points ranging between 79,843.39 to 80,893.51.
This marks the third consecutive bullish week with Nifty 50 gaining 0.73% and Sensex up 0.65% for the week.
Nifty 50 Index Weekly Chart: TradingView
TCS led the gainers opening at 3,980.00 and reaching a high of 4,199.95. The stock’s low was 3,971.30 significantly above its previous close of 3,923.70. TCS closed at an impressive 4,182.45 marking a 6.59% increase.
Source: NSEIndia
Wipro showed strong performance also opening at 545.00 and hitting a high of 564.80. Its low of 541.55 was still higher than the previous close of 534.10. Wipro’s last traded price (LTP) was 559.00 which was up 4.66%.
HCL Technologies opened at 1,530.00 and reached 1,566.00 at its peak. The stock’s low was 1,510.50 closing at 1,561.75 which is a 3.30% gain from its previous close of 1,511.90.
Infosys started at 1,680.00 and climbed to 1,719.75. Its low of 1,666.65 was above the previous close of 1,652.70. Infosys LTP was 1,706.35 which was up 3.25%.
Tech Mahindra opened at 1,475.00 and hit a high of 1,511.80. The stock’s low was 1,461.05 closing at 1,505.00 which is a 3.04% increase from its previous close of 1,460.60.
Larsen & Toubro began at 5,521.25 and reached 5,659.70. Its low of 5,470.10 was above the previous close of 5,407.60. LTM’s LTP was 5,566.00 gaining 2.93%.
Dr. Reddy’s Laboratories opened at 6,590.25 and peaked at 6,745.00. The stock’s low was 6,564.70 closing at 6,729.00 up 2.04% from its previous close of 6,594.75.
Shriram Finance started at 2,750.00 and hit a high of 2,860.00. Its low matched the opening price and it closed at 2,791.20, a 1.91% increase from the previous close of 2,739.00.
Tata Consumer Products opened at 1,135.00 and reached 1,154.00. The stock’s low was 1,130.05 closing at 1,152.00, up 1.82% from its previous close of 1,131.40.
Axis Bank began at 1,293.90 and climbed to 1,339.65. Its low matched the opening price and it closed at 1,317.00, a 1.64% gain from the previous close of 1,296.75.
Looking ahead we keep an eye on global economic factors and reports that may possibly affect the market in the coming week. Note that the market will be closed on Wed July 17th for the Moharram holiday which may impact trading patterns in the coming week.
