Stock market today: BSE Sensex advanced by 454 points whilst Nifty surpassed 23,300 on Monday, driven by gains in banking stocks, particularly Kotak Mahindra Bank, alongside positive global market trends.
The BSE Sensex concluded at 77,073.44, rising 454.11 points or 0.59 per cent, after reaching an intra-day peak of 77,318.94. The NSE Nifty increased by 141.55 points or 0.61 per cent to 23,344.75, with 29 components showing gains.
Kotak Mahindra Bank shares rose over 9 per cent following its announcement of a 10 per cent growth in consolidated net profit at "Rs 4,701 crore", supported by strong performance in capital markets operations.
Notable gainers amongst Sensex constituents included Bajaj Finance, Bajaj Finserv, NTPC, State Bank of India, Power Grid, HDFC Bank, Tech Mahindra and Asian Paints.
Conversely, Zomato, Adani Ports, Tata Consultancy Services, Mahindra & Mahindra, Maruti and Tata Motors experienced declines.
Asian markets showed strength with Tokyo, Shanghai and Hong Kong closing positively, whilst Seoul declined. European markets traded higher, and US markets finished positively on Friday.
"A strong positive sentiment from Asian markets bolstered domestic markets, starting the week on a healthy note. Further, a robust initial set of earnings from the banking and financial sectors triggered a broad-based rally, driven by the likelihood of improved earnings in the near future. However, uncertainties surrounding Trump's policies continue to linger, with investors eagerly waiting for more clarity," stated Vinod Nair, Head of Research, Geojit Financial Services.
Brent crude, the global oil benchmark, decreased 0.36 per cent to USD 80.50 per barrel.
Foreign institutional investors (FIIs) sold equities worth "Rs 3,318.06 crore" on Friday, as per exchange data.
On Friday, the BSE benchmark had fallen 423.49 points or 0.55 per cent to 76,619.33, whilst Nifty declined 108.60 points or 0.47 per cent to 23,203.20.
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Read MoreThe TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
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