Sensex closes volatile session with modest gains, Nifty crosses 24,800

The markets started the trading week robustly, extending the previous session's record highs on Monday, driven by gains in the banking sector following positive quarterly results from major lenders. Additionally, energy shares increased following robust earnings reports from power producer NTPC. 
Meanwhile,The US Fed interest rate decision, ongoing quarterly earnings, macroeconomic data and FII trading activity are the major triggers that will drive stock markets this week, analysts said. Besides, Investors will also track global market trends and the movement in global oil prices for further cues.
On July 29, the Nifty50 and BSE Sensex touched fresh record high of 24,999.75 and 81,908.43, respectively.At close, the Sensex was up 23.12 points or 0.03 percent at 81,355.84, and the Nifty was up 0.01 points or 1.25 percent at 24,836.10.
Highlights of Trade:
●Adani Total Gas Q1 PAT jumps 15% YoY to Rs 172 crore,
●Adani Wilmar swings to black, posts Q1 PAT at Rs 313 cr,
●PNB up 7% after reporting 159% YoY jump in Q1 profit,
●Bandhan Bank hits 10% upper circuit as target prices rise,
●IDFC First Bank tumbles 3% after Q1 results,
●RNFI Services shares list at 90% premium on NSE SME platform,
●ICICI Bank shares rise over 2% post Q1 show.
Divis Labs, L&T, BPCL, Bajaj Finserv and M&M were the top gainers on the Nifty, while losers included Titan Company, Bharti Airtel, Cipla, ITC, and Tata Consumer Products.
On the sectoral front, IT, FMCG, telecom down 0.4 percent each, while auto, bank, media, capital goods, oil & gas, power and realty rose 0.5-2.5 percent.The BSE midcap index rose nearly 1 percent while smallcap index added 1.2 percent.
Rupee Close:
On 29 July'24,the Indian rupee moved in a narrow range before settling flat at 83.73 against US dollar on Monday as a firm American currency in overseas markets offset the gains from weak crude oil prices.
Trading Guide:
"This week, the focus will shift to global cues, particularly the US markets,” Santosh Meena, Head of Research, Swastika Investmart Ltd reportedly stated. The US Federal Reserve is set to announce its interest rate decision on July 31, which will be crucial as the the market anticipates a potential rate cut soon this year. "Additionally, other macroeconomic data from the US and China will be closely monitored. On the domestic front, Q1 earnings will remain a key trigger, with many large companies scheduled to report their results," Meena added. Experts have recommended these five shares to buy today — Ethos, IFB Industries, Samvardhan Motherson, Chambal Fertilisers, and LIC Housing Finance.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)