NIFTY50 and SENSEX trade 0.2% higher; ONGC, Bajaj Auto top gainers

On Monday, the NSE benchmark NIFTY50 index began the trading session positively and achieved a fresh all-time high of 24,611.85. This marked the first time the NIFTY50 index surpassed the 24,600 level. However, as the index reached these higher levels, market participants opted to take profit, causing the NIFTY50 to retreat slightly. It eventually traded at 24,575, up by 0.29%, while SENSEX rose by 0.21% to 80,687. The Nifty Bank was also traded in the green, up by 0.08% at 52,400.

All the sectoral indices were trading in green on Monday. The top three gainers were Nifty PSU Bank (+1.45%), Nifty Pharma (+1.23%), and Nifty Auto (+1.04%). Nifty Pharma hit a fresh record high and the index is up by 5.75% in July. The Nifty Auto index, after retreating from its highs, managed to bounce back and was seen trading above its 20-DMA. The Nifty FMCG index and Nifty Oil & Gas also reached fresh all-time highs.

In the broader markets, both the Nifty Midcap 100 and Smallcap 100 index were trading in the green. The Nifty Midcap 100 index hit a fresh all-time high (+0.56%). Market breadth favored advances, with 1,367 stock rising, while 945 stocks were declining.