Sensex and Nifty 50 rose for the fourth consecutive session on 31st July, tracking the global cues that turned positive after the interest rates were raised by the Bank of Japan.

The BoJ surprised markets by raising interest rates and announcing plans to reduce bond buying. This move is part of a gradual shift away from a decade of massive stimulus.

Following the BoJ surprise, the focus shifts to the US Fed policy outcome expected later today. The Fed is expected to keep rates unchanged but may hint at a possible rate cut in September.

Positive global cues support domestic market sentiment, which continues its record-setting streak despite high valuations. Major European markets were up over 1% when the Sensex closed.

Sensex closed up 285.95 points (0.35%) at 81,741.34, while the Nifty 50 closed up 93.85 points (0.38%) at 24,951.15.

The BSE Midcap index gained 0.86%, outperforming the Sensex, while the Smallcap index fell 0.14%, ending its three-session winning streak.

Out of the 30 Sensex stocks, 20 ended higher. The top gainers included JSW Steel, Asian Paints, and Maruti. The top losers included Reliance Industries, Tata Motors, and Infosys.

Maruti, NTPC, Sun Pharma, Tech Mahindra, Ashok Leyland, GAIL, Lupin, Persistent Systems, Trent, and TVS Motor reached new 52-week highs.

In the Nifty 50 index, 34 stocks ended higher. The top gainers were Maruti, JSW Steel, and HDFC Life. The top losers were Britannia, Dr Reddy’s Labs, and Apollo Hospitals.

Most sectoral indices closed higher, except Nifty PSU Bank (-0.43%), Realty (-0.37%), and Nifty Oil & Gas (-0.04%). Nifty Metal (up 1.22%), Pharma (up 1.10%), and Media (up 1.07%) saw significant gains.

Nifty Bank rose 0.11%, and the Private Bank index increased by 0.15%.
Nifty 50 is trying to break the 25,000 mark but faces challenges due to high valuations and a lack of new triggers.

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