NIFTY50 continues record run, surpasses 24,650 mark, SENSEX near 81,000 milestone

Indian equity benchmark indices extended their gains on Tuesday, with NIFTY50 hitting a fresh all-time high and the SENSEX approaching the 81,000 mark. The SENSEX and NIFTY50 rose by 0.15% and 0.19%, respectively. The rally in the domestic market can be attributed to two key factors: foreign fund inflows and a rally in the US markets.

In July, the cash segment saw an inflow of ₹13,403.43 crore from the FIIs. Notably, except for July 11, which saw a net outflow of ₹1,137.01 crore, FIIs were net buyers in all other trading sessions of July. Additionally, the broad rally in the US markets, driven by the anticipation of a rate cut in September, has further buoyed sentiment.

Despite the frontline indices reaching a new high, the Nifty Bank index exhibited volatility due to weekly option contract expiry. The index is marginally down by 13 points at 52,440.

The gains in the NIFTY50 index were led by Bharti Airtel (+1.90%), followed by ICICI Bank (+0.61%), Hindustan Unilever (+2.18%), Infosys (+0.60%), and Coal India (2.5%). Infosys hit a fresh 52-week high on Tuesday.

Most of the sectoral indices traded in positive territory, with Nifty Realty (+1.99%) emerging as the top gainer, followed by Nifty Metal (+0.6%) and Nifty FMCG (+0.58%). As of Tuesday afternoon, the Nifty FMCG index has become the first sectoral index to surpass the 60,500 mark and has extended its gains for eight straight days.

In the broader markets, the Nifty Smallcap 100 index traded up by 0.53%, while Nifty Midcap 100 was up by 0.23%. Market breadth favoured advances, with 1,525 stocks rising while 761 stocks declined.