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Sensex, Nifty Extend Winning Streak For Second Week Aided By Metal Stocks; FPIs Stay Net Buyers

Sensex, Nifty jumped for second week in a row, to complete its best month in 2022, aided by metal stocks.

<div class="paragraphs"><p>Stock movement on a screen. (Photo created by Form/PxHere)</p></div>
Stock movement on a screen. (Photo created by Form/PxHere)
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India's stock benchmarks jumped for the second week in a row, to complete its best month in 2022, aided by metal stocks, amid a global risk-on-rally.

For both the measures, July marked the best month in 2022. Sensex logged best month since August 2021.

For Nifty 50, July markets best month since November 2020.

Bajaj twins, IndusInd Bank, Tata Steel, Asian Paints are among top gainers in the Nifty 50 index in July.

The Sensex jumped 1,500 points (2.67%) in the week. The Nifty 50 advanced by similar magnitude to close above 17,150. Bajaj twins jumped over 15% for the week, as did Tata Steel while SBI Life and IndusInd Bank advanced over 10%.

The Sensex jumped 1,500 points (2.67%) in the week. The Nifty 50 advanced by similar magnitude to close above 17,150. Bajaj twins jumped over 15% for the week, as did Tata Steel while SBI Life and IndusInd Bank advanced over 10%.

Metal index led the sectoral gainers, followed by media and information technology stocks while Nifty Auto was the biggest sectoral laggard.

On Friday, the Sensex added 1.25% (over 700 points) to 57,570.25. The Nify 50 advanced by similar magnitude to 17,158.25. Today 42 of Nifty 50 stocks rose while eight fell.

The two measures fell in the first two days of the week before snapping the losing streak to extend gains for the second week.

The broader indices almost mirrored the larger peers. All 19 sectoral indices compiled by BSE Ltd. rose with Metal gauge surging over 4.5%.

The market breadth is skewed in the favour of bulls. About 2,100 stocks rose, 1,227 fell and 144 remained unchanged.

Foreign Investors Net Buyers

Foreign portfolio investors net bought equities worth Rs 1,046.32 crore today, data from the National Stock Exchange showed. FPIs snapped out of four days of selling streak yesterday, July 28.

Domestic institutional investors, however net sold stocks worth Rs 0.91 crore today.

Institutions have net bought Rs 3,978.31 crore worth of equities in July alone and net sold Rs 48,439.69 crore so far this year.

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10-Year Bond Yield Falls


Rupee Rises Against Dollar

  • Indian currency appreciated 59 paise (0.74%) to 79.17 during the session. The rupee trimmed some of the gains to close at 79.27 against the U.S. dollar.

  • This is the second straight week in which the Rupee has gained against the greenback.

Source: Bloomberg

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Euro Area GDP Rises 0.7% In The April-June Quarter, Annual Inflation At 8.9%

Seasonally adjusted GDP of the Euro area, a collection of 19 countries using the Euro, has risen 0.7%.

  • In the first quarter of 2022, GDP had grown by 0.5% in the Euro area.

  • Euro area annual inflation is expected to be 8.9% in July 2022, up from 8.6% in June.

Source: Eurostat, the statistical office of the European Union.


HDFC Q1 Net Income Misses Estimate

June Quarter Numbers

  • Net Profit: Rs 3,668 crore vs Rs 3,001 crore (YoY) (Bloomberg consensus estimate: Rs 3,883.5 crore)

  • NII: Rs 4447 crore vs Rs 4125 crore (YoY)

  • GNPA: 1.78% vs 1.91% (QoQ)

Source: Exchange filing

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