Indian Markets Edge Higher in Cautious Trade
The Nifty 50 closed at 23,962.80, up 81 points or 0.34%, while the Sensex rallied 238 points to settle at 76,741.82, gaining 0.31%. The benchmarks snapped a five-day losing streak and reclaimed the 24,000 mark during the session before paring some gains.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 23,962.80 | +81.00 | +0.34% |
| Sensex | 76,741.82 | +238.00 | +0.31% |
Sectoral Performance Drives Session
Information Technology led sectoral gains with a 3.34% advance, while E-Commerce and App-based Aggregator stocks surged 2.15%. Media & Entertainment added 1.60% and Real Estate gained 1.35%. The rally was supported by buying in index heavyweights, though details on individual stock movers remained limited in available data.
Broader market participation showed Hardware Technology & Equipment advancing 50.7%, while Apparels & Accessories climbed 29.32% in sector rotation activity. The session reflected cautious optimism after the recent selloff that had pushed the Nifty below key levels.
The previous trading session on July 27 had seen the Nifty close at 23,881.85, with the index gaining 146.95 points or 1.72% in that session. Today's advance extended the recovery, though volumes remained moderate as participants assessed the sustainability of the bounce.
GIFT NIFTY Tracks Cash Market Sideways
GIFT Nifty ended at 23,988.5, down 9 points or 0.04% from the previous close of 23,997.5. The offshore derivative opened at 23,985.5 and traded in a 96-point range between a high of 24,042.5 and a low of 23,946.5.
| Metric | Level |
|---|---|
| Open | 23,985.5 |
| High | 24,042.5 |
| Low | 23,946.5 |
| LTP | 23,988.5 |
| Change | -9.0 (-0.04%) |
The session saw GIFT Nifty rally to the day's peak of 24,042.5 around midday before sellers emerged, pushing the contract down to 23,946.5 in late afternoon trade. The index recovered to close near opening levels, tracking the cash market's modest gain with marginal underperformance.
Session II Outlook
GIFT Nifty stands at 23,988.5 heading into the evening session, holding above the psychological 24,000 level as the contract mirrors the Indian cash market's tentative recovery attempt.