Sensex up 491 percent, Nifty ends above 17,300. Bank Stocks Expand

On Monday, the Sensex and Nifty, the two key stock benchmarks, closed in the green on Monday on the back of buying in major indices like Reliance Industries, and ICICI Bank, and recovery in global markets.

The BSE Sensex gained 491 points (0.85%) to close at 58,410. The index opened lower, falling to a low of 57,639 in early trading. However, it recovered in morning trading, reaching a high of 58,449 by 529 points (0.91 percent). The NSE Nifty rose 126 points (0.73 percent) to 17,311 at the close, marking its second consecutive session of gains.

On the 30-stock Sensex platform, State Bank of India, NTPC, Bajaj Finserv, ICICI Bank, Axis Bank, Reliance Industries, and IndusInd Bank were the biggest gainers. On the other hand, Larsen & Toubro, HCL Technologies, Wipro, Tata Steel, Nestlé, Power Grid, and Bharti Airtel were the losers.

In the broader market, the Nifty MidCap Index rose 0.24 percent, while the Nifty SmallCap Index rose 0.5 percent. Given this, the overall breadth of the market leaned slightly toward the sellers.

By sector, the Nifty PSU Bank Index was up 3.6%, the Nifty Bank Index was up 1.6%, the Nifty Financial Services and Private Bank Indices were up 1.5% and the Nifty IT Index was up 0.3%.

The mood on the 30-stock Sensex platform remained positive as 23 titles advanced while the rest 7 declined.

In the previous session on Friday, the benchmark BSE index climbed 684 points (1.20 percent) to 57,919, while the Nifty rose 171 points (1.01 percent) to 17,185.

See also  Tesla’s CEO says he had little say in company payment

In Asia, markets in Seoul, Shanghai, and Hong Kong closed higher, while Tokyo closed lower. Stock markets in Europe were trading in positive territory in mid-session deals. Wall Street finished significantly lower on Friday.

The international oil benchmark, Brent crude, was trading 0.07 percent lower at $91.57 per barrel.

According to data from the exchange, foreign institutional investors (FIIs) continued to be net sellers on the Indian capital market on Friday, selling shares worth Rs 1,011,23 crore.


Share on:

Leave a Comment