Stock market today:
Nifty50 and
BSE Sensex, the benchmark equity indices Sensex and Nifty, rallied in trade on Monday, continuing their upward momentum, supported by optimism around the India–US trade deal and strong buying interest seen in public sector banks, consumer durable companies, and real estate stocks.
The 30-share BSE Sensex rose by 485.35 points, or 0.58 per cent, to finish at 84,065.75. During intraday trade, the index climbed as much as 734.28 points, or 0.87 per cent, touching a high of 84,314.68.
Similarly, the NSE Nifty gained 173.60 points, or 0.68 per cent, to close at 25,867.30. The index had earlier advanced 228.55 points, or 0.88 per cent, during the session to reach an intraday peak of 25,922.25.
Among Sensex constituents, major gainers included State Bank of India, Titan, UltraTech Cement, Tata Steel, Eternal, Bharat Electronics Ltd, Kotak Mahindra Bank, IndiGo, Trent, Mahindra & Mahindra, Larsen & Toubro, Sun Pharmaceuticals, and Asian Paints. In contrast, PowerGrid, NTPC, ITC, ICICI Bank, Infosys, HDFC Bank, Tech Mahindra, Maruti Suzuki India, and Axis Bank ended the session lower.
Vinod Nair, Head of Research at Geojit Investments Ltd, said that encouraging developments related to the trade agreement, along with the return of foreign institutional investors, strengthened risk appetite in the market. He noted that investors are closely tracking upcoming corporate earnings, with PSU banks delivering better-than-expected results, which helped the PSU banking index outperform.
He further observed that consumer durable and real estate stocks witnessed accumulation after recent corrections, driven by expectations of a recovery in demand. According to Nair, the market’s rebound was broad-based, with sectors such as cement, capital goods, textiles, and consumer discretionary drawing investor interest, aided by Union Budget announcements and favourable trade-related developments.
Across Asian markets, Japan’s Nikkei 225, South Korea’s Kospi, China’s SSE Composite, and Hong Kong’s Hang Seng index ended in positive territory. European markets were also trading higher, while US markets had closed with gains on Friday.
Brent crude, the global oil benchmark, declined by 0.81 per cent to USD 67.52 per barrel.
Exchange data showed that foreign institutional investors purchased equities worth Rs 1,950.77 crore on Friday. In the previous session, the BSE Sensex had risen by 266.47 points to close at 83,580.40, while the NSE Nifty had advanced 50.90 points to settle at 25,693.70.
(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
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