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Indian stocks end July on modest gains as financials and autos lead
The Nifty Midcap 100 and Nifty Smallcap 100 rose more than 0.5% each, even as investors weighed volatile crude oil risks for India, a net energy importer.
Indian equities closed the last trading day of July with modest increases, driven by strength in financial and auto shares and profit booking in information technology, according to LiveMint Markets.
The Nifty 50 ended up 0.20% at 24,336, while the Sensex gained 0.21% to finish at 78,091. Broader indices also outperformed, with the Nifty Midcap 100 and Nifty Smallcap 100 rising more than 0.5% each.
Sectorally, Nifty Auto climbed 1.50% and Nifty Oil & Gas added 0.46% as the top performers. Nifty Realty, Nifty Chemicals, and Nifty FMCG were the biggest decliners, falling as much as 2%.
LiveMint Markets attributed the month’s relative resilience to steady June-quarter corporate earnings, measures meant to support the rupee, and the return of foreign investor inflows after four months, while noting concerns around crude oil volatility. It also cited easing crude prices after tanker traffic through the Strait of Hormuz reportedly picked up, alongside heightened West Asia tensions.
Latest closeWTI crude $86.80 ▲3.8%|Sensex 77,928.15 ▲0.3%