Mumbai, July 29: The NSE Nifty50 rose to 24,980.45 and may cross the 25,000 milestone today. Other broader market indices also opened on a positive note.
Benchmark stock market indices opened today (July 19) on a positive note tracking positive developments in the US economy and sustained momentum from Q1 results. The BSE Sensex touched an all-time high of 81,720.25 at the opening bell. The NSE Nifty50 rose to 24,980.45 and may cross the 25,000 milestone today. Other broader market indices also opened the trading session on a positive note
Among the top gainers on the Nifty50 were NTPC, BPCL, ICICI Bank, SBI, and Shriram Finance, whereas Dr Reddy's Laboratories, Titan, Cipla, Tata Consumer Products, and SBI Life were among the top losers.
According to Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, "The underlying strength of this bull market has increased due to positive signals. The expectation of a soft landing for the US economy and anticipated rate cuts by the Fed in September remain intact. These factors will globally support this bull market. Additionally, the US 10-year bond yield declining to 4.17% and Brent crude dropping to $81.2 are further supportive factors."