Indian equity benchmark indices continued their record-breaking rally on Tuesday, hitting fresh all-time high closing levels, on th back of fresh foreign fund inflows and a positive trend in the US and European markets. Strong buying in IT giant Infosys contributed to the domestic benchmark indices optimism.
The BSE Sensex surged 205.21 points or 0.31 per cent to settle at its new all-time closing high of 66,795.14. During the day, it rallied 417.09 points or 0.62 per cent to reach its record intra-day peak of 67,007.02. The benchmark breached the 67,000-mark for the first time ever in intra-day trade.
The NSE Nifty 50 rose 37.80 points or 0.19 per cent to settle at its all-time closing high of 19,749.25. During the day, the index rallied 108 points or 0.54 per cent to hit its lifetime peak of 19,819.45.
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"Sensex and Nifty continued their record-breaking rally on Tuesday, reaching new all-time high levels, amid fresh foreign fund inflows and buying in banking counters. A positive trend in the US markets yesterday also contributed to the domestic benchmark indices optimism. The global market construct continues to be favourable for the bulls. Healthy consolidation can be the near-term trend," said Vikram Kasat, Head Advisory at Prabhudas Lilladher Pvt Ltd.
Top Stocks To Watch For 19 July:
IndusInd Bank
The private lender reported its first quarter profit of Rs 2,124.50 crore, up 30.2 per cent year-on-year, in line with market estimates. The bank had recorded a net profit of Rs 1,631.14 crore in the same quarter for previous financial year. The net interest income (NII) grew by 18 per cent to Rs 4867 crore from 4125.3 crore year-on-year. IndusInd Bank saw 22 per cent YoY growth in advances, along with 15 per cent increase in deposits.
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State Bank of India
The public lender has announced plans to set up a trustee company, which will be a fully-owned subsidiary responsible for handling the Corporate Debt Market Development Fund (CDMDF). SBI Funds Management is designated as the investment manager and sponsor for this fund.
Adani Transmission
Adani Transmission said its distribution loss has seen a continuous decline, dropping to 4.85 per cent in April-June quarter from 6.95% in corresponding quarter last year. The company said seasonal factors resulted in lower than average losses. In the April-June quarter, the company witnessed a 7.61 per cent increase in sales, selling 2,754 milion units in the previous financial year.
Vedanta
The metals-to-oil company has collaborated with over 100 global suppliers and ancillary industries technology and equity partners for its semiconducter fabrication project and with Innolux for its display fab unit.
