Budget Blues Fade: Markets Close In Green For The First Time In A Week; Sensex Gains Over 1000 Points

The union budget that was presented in July had unleashed a 'bear effect' on the Indian equity markets. The markets have been trading and therefore closing in red since then.

In fact, the marquee indices, Sensex and Nifty, have been closing in red, even before the budget. The indices closed in red on Friday, July 19, and the last green or positive closing was on July 18.

On Friday, July 26, the BSE Sensex increased by 1292.92 points or 1.62 per cent, ending the day at 81,332.72. Similarly, the NSE Nifty rose by 428.75 points or 1.76 per cent to close at 24,834.85.

Additionally, the Nifty Bank jumped 407.20 points or 0.80 percent, climbing to 51,295.95.

The last time that the indices closed in green was on July 18, when Nifty closed with gains of 0.76 per and Sensex closed with gains of 0.78 per cent.

In fact, the markets dipped significantly in the span of the week. The BSE Sensex dropped 1.77 per cent or 1,441.96

Major Gainers and Losers

Gainers: On the BSE, at the time of writing, major gainers included Bharti Airtel, which rose by 4.25 per cent to Rs 1,511. Adani Ports, up by 3.53 per cent to Rs 1,539.50, and Sun Pharma, which increased by 3.41 per cent to Rs 1,722.

Losers: Right before closing, there were no major losers, as the laggards suffered a marginal decline. Nestle, Hindustan Unilever and HDFC Bank all declined, but by only under 0.10 per cent.

Rupee: The Indian Rupee closed at 83.73 against the US dollar.

Asian Markets

Interestingly, the Asian indices closed in a mix on the last day of the trading week. Japan's Nikkei lost 0.53 per cent or 202.10 points, closing at 37,667.41.

Another Tokoy-based index, TOPIX, closed at 2,699.54, dropping by 0.38 per cent or 10.32 points. Hang Seng closed with marginal gain, closing with a gain of 0.096 per cent or 16.34 points at 17,021.31. South Korea's KOSPI also closed in green 0.78 per cent or 21.25 points, climbing to 2,731.90.