Stock Market Updates: Sensex Up Over 200 Points; Nifty Tops 25,600; Infosys, ICICI Bank Top Gainers
Sensex Today: Stock markets opened higher on Wednesday amid a mixed market sentiment globally. The BSE Sensex was trading at 83,871, rising 174 points or 0.21 per cent, while the Nifty50 was at 25,599, up 57 points or 0.22 per cent.
The broader Nifty MidCap, and SmallCap indices were flat with positive bias. Nifty Bank index, meanwhile, hit a record high of 57,628 in the intraday trade.
After breaking the 24500-25000 range Nifty has moved to the new range of 25200-25800. Positive news about a possible trade deal between India and US can help break the upper limit of the range but it would be difficult to sustain the Nifty at higher levels for long. There are no indications yet of a strong rebound in earnings. GST collections data for June indicates sluggish growth. Auto sales numbers for June also indicates subdued sales.
In brief, there is no room for the market to sustain the upward momentum given the high valuations. A surprise element is the resilience of the US economy and corporate earnings, which in turn is imparting resilience to the US market, despite the tariffs. How long this resilience will hold remains to be seen. The Fed chief Jerome Powell has indicated that there is no room for a rate cut immediately. This will rein-in the enthusiasm of the bulls.
First Published:
July 02, 2025, 09:33 IST
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