FIRST TRADE: Nifty opens above 19,800, Sensex tops 67,000; IndusInd Bank up 3%

Stock market today:  The domestic equity market opened in positive territory on Wednesday, July 19. The NSE Nifty opened above the 19,800 level, while the Sensex topped the 67,000 mark and made a new record high. Last seen, the Nifty50 index was trading at 19,806.4, up 57.15 points, while the S&P BSE Sensex was trading at 66,945.16, up 150.25 points. Among individual stocks, shares of IndusInd Bank rose nearly 3 per cent after the company declared its June quarter numbers.

"Markets may see a quiet start in Wednesday trades due to sluggishness in the Gifty Nifty index, but overnight gains in the US markets and mixed optimism in Asian gauges could reverse the trend as the trading progresses. Nifty will continue to be on a roll as momentum buying will lift the benchmark to uncharted territory with aggressive inter-month targets at the 20,000 mark. On the other hand, the index is likely to face hurdles at the 19,827 mark, with support placed at 19,617 and intra-day support at the 19,703 mark. While corporate earnings of blue-chip companies announced so far have not seen any major negative surprises, the upcoming results from Infosys, Reliance Industries, and Hindustan Unilever will be keenly watched, considering the gloomy global economic outlook and higher inflation levels," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Broader market

Nifty Midcap 100 and Smallcap 100 are trading in green. Midcap 100 was up by 0.37 per cent and Smallcap 100 was trading 0.62 per cent higher.

Sectoral watch 

Except for Nifty Auto, all indices were trading in positive territory. Nifty IT was up more than half a per cent. 

Gainers and losers 

In the Nifty50 basket, IndusInd Bank was the top gainer, followed by NTPC, Power Grid, Infosys, and Dr Reddy Laboratories.

Conversely, HDFC Life Insurance, Hero MotoCorp, Maruti Suzuki, Hindalco, and Mahindra & Mahindra were the top laggards.

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