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India: markets close in green

On Monday, July 25, Indian stock market ended in the positive territory. The pharmaceutical sector outperformed, while lenders came under sell-side pressure.

The Nifty 50 rose 1.11% to 8,635.65, while the BSE Sensex 30 added 1.05% to 28,095.34.

On the Nifty 50, Bharat Heavy Electricals, Bank of Baroda, and Maruti Suzuki, surged more than 3%. On the other side of the spectrum, Bajaj Auto, Gail, Dr. Reddy's Laboratories retreated more than 0.7%.

On the BSE Sensex 30, Bajaj Auto, Gail, and Dr. Reddy's Laboratories were out of luck. Bharat Heavy Electricals, SBI, and Maruti Suzuki topped the advancers.

On the currency market, USD/INR grew 0.21% to 67.294 and the EUR/INR gained 0.31% and to 73.947, while the 10-year bond yield reached 7.237%.

Pharmaceutical companies Lupin, Cipla and Sun Pharmaceutical were among the advancers, led by Lupin, Cipla and Sun Pharmaceutical Industries.

Lender Axis Bank rose 0.7%, snapping a 4-day losing streak. To remind, previously, the bank had reported a 21% drop in quarterly earnings.

Bharti Airtel, the largest mobile operator in India in terms of subscriber base, closed in the green, despite of the loss of its value early in the day.

Tata Metaliks slid 3.91%, even after recording a 25% increase in its quarterly profit.

Indiabulls Housing Finance jumped 2.66% ahead of its quarterly report release.

KSB Pumps tumbled 3.71%, having posted a fall in net profit, down 27.9% to INR 16 mn.

From a technical standpoint, the BSE Sensex 30 is trading within a rising wedge, with the price having reached its upper bound about 28,100. Stochastic lines are pointing south, but the bears cannot develop a correctional trend.