The stock market continued its bullish run on Thursday Aug 1st with both the Nifty 50 and BSE Sensex reaching uncharted levels. The Nifty 50 surpassed the 25,000 mark closing at 25,010.90 up 0.24% or 59.75 points. The BSE Sensex also hit a new milestone breaching 82,000 before settling at 81,867.55 gaining 0.15% or 126.21 points. The Nifty Bank index showed marginal growth ending at 51,564.00 up 0.021% or 10.60 points.
Sensex Index Daily Chart: TradingView
Technical analysis suggests the market remains in an uptrend with both indices consistently breaking higher highs. The bullish outlook is expected to continue unless the Nifty 50 closes below 24,074 and the Sensex below 79,223. As of now 845 out of 4,433 companies have reported their Q1 FY24-25 results showing an 11.88% year-on-year increase in revenue and a 0.72% rise in net profit.
Power Grid Corporation Ltd led the gains among the featured stocks closing at 361.50, up 3.82%. The stock opened at 351.15 and reached a high of 362.50 during the day outperforming its previous close of 348.20
Source: NSEIndia
Coal India Ltd also saw substantial growth with its stock price rising to 540.30, a 3.47% increase. The stock opened at 535.00 and touched a high of 542.25 showing strong momentum from its previous close of 522.20.
Oil and Natural Gas Corporation Ltd experienced a 2.03% uptick closing at 341.00. The stock opened at 337.80 and reached a high of 344.70 improving from its previous close of 334.20.
HDFC Bank Ltd continued its upward trajectory ending at 1,647.65, a 1.97% increase. The stock opened at 1,622.90 and hit a high of 1,650.05 building on its previous close of 1,615.75.
Dr. Reddy’s Laboratories Ltd saw its stock price rise to 6,882.85, up 1.96%. Opening at 6,795.50 it reached a high of 6,900.50 showing growth from its previous close of 6,750.50.
National Thermal Power Corporation Ltd gained 1.80% closing at 423.50. The stock opened at 419.90 and touched a high of 424.35 improving from its previous close of 416.00.
Tata Consumer Products Ltd saw a 1.77% increase ending at 1,210.00. Opening at 1,188.95, it reached a high of 1,216.00 building on its previous close of 1,188.95.
Adani Enterprises Ltd experienced a 1.76% uptick closing at 3,225.10. The stock opened at 3,180.00 and hit a high of 3,258.00 showing growth from its previous close of 3,169.40.
Maruti Suzuki India Ltd saw its stock price rise to 13,343.05 up 1.73%. Opening at 13,393.00, it reached a high of 13,680.00 improving from its previous close of 13,115.80.
Shriram Finance Ltd gained 1.64% closing at 2,980.00. The stock opened at 2,932.90 and touched a high of 2,999.00 building on its previous close of 2,931.95.
