Indian Stocks
0
All posts from Indian Stocks
Indian Stocks in Indian Stocks,

India: Nifty 50 holds above 10,000

The Indian stock market showed positive performance on Wednesday, July 26 with the bulls still holding the upper hand amid a strong start to the quarterly earnings season, while upside was capped by technical overheating.

Recapping the benchmarks, the Nifty 50 firmed 0.56% to 10,020.65, holding above the key mark it overstepped a day earlier, and the BSE Sensex closed up 0.48% at 32,382.46.

By 10:25 GMT, the USD/INR currency pair slipped 0.16% to 64.363%, while EUR/INR traded down 0.09% to 74.9209. The 10-year Indian government bond yield widened to 6.439%.

In sectoral terms, energy, financial and real estate stocks logged gains, while telecom and IT stocks underperformed the broader market.

On the NSE, the session’s top advancers included Yes Bank and Sun Pharma, which surged 5.82% and 2.40%, respectively. In the bear camp, Asian Paints and Zee Entertainment Enterprises declined 1.5% and 1.47%.

Mining company Vedanta added 2.4% as quarterly consolidated profit doubled on the back of strong performance in the zinc segment.

Axis Bank shed 2.95% as equity analysts published downbeat comments following a 16% decline in quarterly profit.

The daily chart shows that the BSE Sensex continues to trade near the upper line of a rising band, while the Slow Stochastic Oscillator and the RSI remain in overbought territory. As a result, the benchmark is likely to head towards the lower end of the pattern in the short term.