StockMarket: The benchmark stock indices closed marginally higher on Monday, aided by buying in banking stocks and a strong start in European markets. The S&P BSE Sensex, which comprises 30 stocks, ended at 77,341.08, up 131.18 points or 0.17 percent. The Nifty 50, which comprises 50 stocks, closed at 23,537.85, up 36.75 points or 0.16 percent.
Power Grid Corporation of India, Mahindra & Mahindra, Nestle, Ultra Tech Cement, Sun Pharma, ITC, NTPC, Titan, ICICI Bank, Bharti Airtel and Bajaj Finserv were the top gainers in the Sensex. HDFC Bank was the top gainer in the Nifty. Tata Steel, IndusInd Bank, Reliance Industries, Adani Ports, Axis Bank, and Bajaj Finance were the top losers in the Sensex.
Also Read: Finance Ministry To Review Progress Of PM Vishwakarma, Jan Suraksha, Mudra Yojana On Tuesday
Ratings agency Standard & Poor's on Monday maintained its GDP growth forecast for India at 6.8 percent for the current financial year and said higher interest rates and less fiscal stimulus would dampen demand.
In its economic outlook for the Asia-Pacific region, Standard & Poor's said India's economic growth continues to surprise on the upside with the economy expected to grow by 8.2 percent in FY2023-24.
In Asian markets, Seoul, Shanghai, and Hong Kong closed lower while Tokyo ended in positive territory. European markets were trading with gains. US markets ended mostly lower on Friday.
According to stock exchange data, foreign institutional investors (FIIs) sold shares worth Rs 1,790.19 crore on Friday. Brent crude, the global benchmark, rose 0.41 percent to $85.59 a barrel. On Friday, the BSE Sensex fell 269.03 points or 0.35 percent to settle at 77,209.90. The NSE Nifty fell 65.90 points or 0.28 per cent to close at 23,501.10.
Recommended For You
Also Read: Paytm Payments Bank To Close These Accounts On July 20; Know How To Reactivate Paytm Bank Account
(With PTI's Input)