Global cues push up equities, Zomato's Mcap crosses Rs 1 lakh crore

Global cues push up equities, Zomato's Mcap crosses Rs 1 lakh crore

Mumbai, July 23, 2021

India's key equity indices made marginal gains on Thursday following supportive global cues.

Besides, expectations of healthy quarterly results and the encouraging response to Zomato's debut pushed the markets higher.

Both indices opened slightly higher, went up and down in a range through the day, and closed marginally higher for the day.

On the global front, stocks markets perked up on Friday after a volatile week in which sentiment over the global economic outlook rose and fell with each new headline on the Delta variant of the coronavirus

The S&P BSE Sensex was trading at 52,975.80, higher by 138.59 points, or 0.26 per cent, from its previous close.

The NSE Nifty50 was trading at 15,856.05, higher by 32 points, or 0.20 per cent, from its previous close.

"Stellar Zomato IPO listing contributed to an improvement in volumes though advance decline ratio was in the negative," HDFC Securities's Head, Retail Research, Deepak Jasani said.

"The Supreme Court dismissed the applications by telecom companies seeking permission to approach the DoT on calculation of the dues in the adjusted gross revenue case. Telecom shares were hence among the highest losers alongwith auto and capital goods."

Geojit Financial Services' Head of Research, Vinod Nair, said: "Domestic indices continued to advance ahead tracking rising global risk appetite and higher domestic inflows from local investors."

"Earnings season continued to pump in optimism in India and global markets while the Fed is set to deliberate their easy-money policy in the meeting ahead. Attractive IPOs, Banking and realty stocks attracted domestic buyers while mid and small-cap traded mixed."

IANS

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