The intraday rally that drove Nifty above 10,100 for the first time on Thursday — post JD(U)-BJP alliance in Bihar and Federal Reserve meet . offset by the sell-off in last hour of trade due to F&O expiry-led volatility. But the index managed to close the July expiry above 10,000-mark. The 30-share BSE Sensex shed 290 points from day’s high, to close with only 0.84 points gains at 32,383.30 driven by the rally in HDFC Group stocks. The index hit an intraday all-time high of 32,672.66. The 50-share NSE Nifty fell 0.10 points to 10,020.55 after hitting an intraday record high of 10,114.85
Bank Nifty Outlook
The Nifty posted biggest absolute gains in a series since March 2016, up 5.4 percent and Nifty Bank rallied over 7 percent in July series but the Nifty Midcap underperformed, up 4.4 percent. HDFC was the biggest gainer among Sensex stocks, up 5.83 percent to end at record closing high of Rs 1,728.50 as brokerage houses raised target price on the stock post Q1 earnings. Yes Bank also ended at record closing high of Rs 1,786.75, up 4.33 percent after analysts retained bullish stance on stellar earnings performance and stock split.
Nifty Day Performance