Podcast: Market back in green as midcap, smallcap stocks rally : Bulletin: Business Today
Business Today

Podcast: Market back in green as midcap, smallcap stocks rally

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August 3, 2018

The Sensex and Nifty reversed losses in trade today and rose to record highs powered by banking and consumer durables stocks.

While the Sensex closed 391 points or 1.05% higher at 37,556, Nifty gained 1.03% or 116 points to close at 11,360.

Indices hit fresh lifetime highs as investors accumulated the recently battered banking, auto and realty counters.

The BSE bankex rose 502 points to 31079 level.  The  consumer durables goods index rose 320 points to 21,372 level.

Bank Nifty too witnessed huge buying activity with the index closing 1.24% or 339 points higher at 27,695 level.

The 30-share Sensex stayed in the green throughout the session and hit the day's high of 37,582 on a flurry of buying.  This is its biggest single-session gain since May 31, when it had surged 416.27 points.

The index had lost 441 points in the previous two sessions after the RBI hiked the policy rate, making loans costlier for consumers, amid an escalation in the Sino-US trade conflict.

Meanwhile, the Nifty surpassed its previous closing high of 11,356 hit on July 31.

The BSE midcap and small cap indices rose 149.29 and 193 points respectively.

In comparison, the BSE largecap index rose just 0.91 percent or 39.78 points.

Top Sensex gainers were Axis Bank (5.17%), Vedanta Ltd (3.60%), YES Bank (2.96%), ICICI Bank (2.33%) and Kotak Mahindra Bank (2.20%).
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