The stock market performed wonders in July! Sensex and Nifty rose more than 2%, and the IT sector emerged as the biggest star.

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July Stock Market: July was a strong month for the Indian stock market, with both major indices, the Sensex and Nifty, delivering returns of over 2%. In the last trading session, the Sensex rose 0.21% to close at 78,094.64, while the Nifty gained 0.27% to close at 24,383.60.

Along with large-cap stocks, mid-cap and small-cap stocks also performed well. In July, the Nifty Smallcap 100 index returned 2.53%, and the Nifty Midcap 100 index returned 1.81%. Major stocks whose market value declined by 15% to 20% in July include Dr. Reddy’s Laboratories, Bank, Thermax, Tejas Networks, Suzlon Energy, GE Vernova T&D India, Siemens Energy India, and Gujarat Energy.

These stocks made gains in July

In contrast, Kalyan Jewellers India’s share price jumped more than 60% in July. Shares of eClerc Services, CE Info Systems, Lodha Developers, HEG, Info Edge (India), ATM, HCL Technologies, and Persistent Systems all gained nearly 50%.

Company Performance
Kalyan Jewellers India gained over 60%
eClerk Services gained nearly 50%
CE Info Systems gained nearly 50%
Lodha Developers gained nearly 50%
HEG gained nearly 50%
Info Edge (India) gained nearly 50%
ATM gained nearly 50%
HCL Technologies gained nearly 50%
Persistent Systems gained nearly 50%
Sector Indices with the highest gains in July

Speaking of indices, Nifty IT was the biggest gainer in July, with a jump of 16.77%. Furthermore, Nifty Consumer Durables (9.96%), Nifty Media (9.49%), Nifty Realty (8.67%), Nifty Auto (8.55%), Nifty Pharma (4.77%), Nifty Services (2.50%), and Nifty Metal (1.60%) also closed with gains. On the other hand, Nifty Energy (2.54%), Nifty India Defence (1.98%), Nifty PSU Bank (1.48%), and Nifty Private Bank (1.46%) were the biggest losers.

Index Returns
Nifty IT +16.77%
Nifty Consumer Durables +9.96%
Nifty Media +9.49%
Nifty Realty +8.67%
Nifty Auto +8.55%
Nifty Pharma +4.77%
Nifty Services +2.50%
Nifty Metal +1.60%

Also Read: LPG Price Today: Commercial LPG becomes cheaper from August 1, no relief on domestic gas cylinders, see new rate list

IT Sector Performs Strongest

Experts believe that despite the selloff in global AI trade, the strong performance of certain stocks was due to first-quarter results and the resumption of buying in the IT sector. The IT sector performed the best as investors continued to be attracted towards this sector during July.

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