Capital market stocks rise as Nifty heads towards all-time high zone; Motilal Oswal, BSE, Angel One jump up to 6%

Capital market stocks rise in July 3 trading session. 

Shares of capital market firms rose in Thursday’s trade as the Nifty edged closer to its record high, helping capital market stocks like Motilal Oswal Financial Services, BSE, and Angel One gaining up to 6 percent.

The Nifty Capital Market index climbed over 1 percent, with 14 of its 15 constituents trading in the green. Anand Rathi Wealth was the sole laggard.

Motilal Oswal Financial Services jumped over 6 percent to hit an intraday high of Rs 907.95 on the NSE, a 5-month high.

The rally came after the company’s Assets Under Management (AUM) crossed the Rs 1.5 lakh crore mark, rebounding from two consecutive sessions of decline.

BSE and Aditya Birla Sun Life AMC advanced up to 2 percent, while Central Depository Services, Angel One, MCX and CAMS gained up to 1.5 percent.

"Markets await a key trigger to push Nifty towards its all-time high of 26,277.35, with all eyes on the US June nonfarm payrolls data due Thursday—weak numbers could revive Fed rate cut hopes, while strong data may dim them," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

He also noted that a recent announcement by the US President on reducing Vietnam’s tariff to 20 per cent from 46 percent had raised hopes that India’s effective tariff rate may settle around 15–18 percent.

Broader indices also advanced, supported by positive cues from Asian markets and optimism around a possible India-US trade deal. The Sensex gained 383.61 points or 0.46 percent to 83,793.30, while the Nifty rose 110.30 points or 0.43 per cent to 25,563.70.

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