Research Icon:- Closing Bell Of the Day 31st July (Wednesday)

Nifty ends above 11,100, Sensex gains; IndusInd Bank up 5%, metal stocks  shine

At close, the Sensex was up 83.88 points at 37,481.12, while Nifty was up 28.40 points at 11,113.80.

Market close: Benchmark indices snapped 2 day's losing streak and ended higher on July 31 with Nifty finished above 11,100 level.At close, the Sensex was up 83.88 points at 37,481.12, while Nifty was up 28.40 points at 11,113.80. About 1134 shares have advanced, 1333 shares declined, and 137 shares are unchanged. 

Zee Entertainment, Axis Bank, Bharti Airtel, Titan Company and Bharti Infratel were among major losers on the Nifty, while gainers were IndusInd Bank, Yes Bank, IOC, Hero Motocorp and Tata Steel.All the sectoral indices ended in the green led by the metal, auto, pharma, IT, infra, FMCG and energy.

Market Outlook:-

"Going forward, we expect that weak domestic sentiments may continue to have a negative bearing on the Indian markets. Further, muted corporate earnings and challenging outlook provided by the corporates is also weighing on the markets. On the global front, Fed meet which will conclude tonight may provide some direction to the markets as there are high expectations for a rate cut," Ajit Mishra Vice President, Research, Religare Broking told Moneycontrol.

He recommended investors should stick to stock specific approach taking cues from the earnings and traders should avoid highly leveraged positions.
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