MARKET UPDATE:Sensex soared 500 points to 57,354, and the Nifty50 advanced 160 points to 17,090
Published On: Friday, July 29, 2022 | By: Team KnowMyStock
OPENING BELL: The Indian markets opened firmly higher today(29 July 2022) tracking strength in US markets overnight. The BSE Sensex soared 500 points to 57,354, and the NSE Nifty50 advanced 160 points to 17,090. Tata Steel, Bajaj Finserv, Power Grid, Titan, M&M, L&T, Wipro, and Nestle led gains on the Sensex, up to 2 percent higher. On the downside, Dr. Reddy's slipped the most, down 4 percent after weak Q1 results. It also pulled down other pharma majors with Sun Pharma, Cipla, and Divi's Labs sliding up to 1 percent.
The broader markets also opened in green. The BSE MidCap and SmallCap indices were up to 0.9 per cent higher.
sector-wise, Nifty Auto, IT and Metals led gains, rising over 1 per cent. Realty index was other notable winner, while pharma index sank 0.9 per cent.
Among stocks, Westlife Development extended gains by rising over 6 per cent. It reported a consolidated net profit of Rs 23.57 crore in Q1FY23 as compared to a net loss of Rs 33.39 crore in the April-June quarter a year ago.
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