Stock market rises for the second consecutive day, Sensex returns beyond 78K, Nifty above 24300

Mumbai30 july. After a day of volatile trading, the domestic stock market remained positive for the second consecutive day on Thursday due to buying in the last hour and both the benchmark indices closed with gains. Due to buying of shares of major companies like Reliance Industries and HDFC Bank and inflow of foreign capital, BSE Sensex rose by 274 points while NSE Nifty gained 67 points and stood above 24,300.

5 day rally in IT shares weakened

However, shares of information technology (IT) companies, which had seen a rally in five consecutive sessions, saw selling in the last few hours and stocks like TCS and Infosys lost the gains made in the initial hours.

Sensex 273.55 by points advantage 77,928.15 off on

The 30-share sensitive index Sensex of Bombay Stock Exchange (BSE) closed at 77,928.15 points with a gain of 273.55 points or 0.35 percent. During trading, Sensex crossed the 78,000 level and saw a high of 78,007.09 and fell to a low of 77,440.91 points. During this period the index fluctuated by 566.18 points. Among Sensex related companies, shares of 14 remained in the green while 16 registered a decline.

nifty 66.95 by increasing points 24,317.15 off on

At the same time, Nifty, the standard index based on 50 shares of National Stock Exchange (NSE), also increased by 66.95 points or 0.28 percent and closed at 24,317.15 points. Among Nifty related companies, 24 shares were in profit while 26 were in weakness.

Unlike the benchmark index, in the broader market, BSE Smallcap Select index related to small companies fell 0.66 percent and Midcap index related to medium companies fell 0.36 percent.

Maruti Suzuki's stocks rose the most by 1.77 percent

Among the companies included in the Sensex group, Maruti Suzuki's stock rose the most by 1.77 percent. Shares of Mahindra & Mahindra, Reliance Industries, State Bank of India, HDFC Bank and Power Grid were also major gainers. On the contrary, shares of Adani Ports, InterGlobe Aviation, Bajaj Finserv and Bharat Electronics remained in loss.

FII net 2,981.87 bought shares worth crores of rupees

According to stock market data, foreign institutional investors (FIIs) had bought shares worth a net Rs 2,981.87 crore on Wednesday. On the other hand, the price of global oil standard Brent crude increased by 0.45 percent to $ 91.15 per barrel.