Market Maintains Upward Momentum
The Indian stock market extended its rally into the fifth consecutive trading session on Monday. Positive quarterly results and steady foreign investments boosted buying in banking and IT stocks. As a result, the Sensex closed above 79,000 points, while the Nifty surpassed the 24,000 mark. The Indian rupee appreciated by 23 paise, settling at ₹85.15 against the US dollar. Brent crude oil also saw a rise, trading at $66.36, up 2.34%.
Investor Wealth Sees Major Surge
Market capitalization of the companies listed on BSE has increased by ₹32 lakh crore in the past five trading days to ₹4,25,85,629.02 crore (about $5 trillion). Significantly, ₹6 lakh crore was contributed to investor wealth on Monday alone.
Sensex and Nifty Performance Overview
- Sensex opened at 78,903.09, 350 points higher than the previous close of 78,553.20.
- The index peaked at an intraday high of 79,635.05 and closed at 79,408.50, gaining 855.30 points.
- NSE Nifty closed at 24,125.55, higher by 273.90 points.
In the last five trading sessions:
- Sensex surged 5,561.35 points.
- Nifty increased by 1,726.40 points.
Stock Performance Snapshot
23 out of 30 Sensex stocks closed in the positive. Major gainers are:
- Tech Mahindra: +5.21%
- IndusInd Bank: +4.24%
- PowerGrid: +3.61%
- Bajaj Finserv: +3.47%
- Mahindra & Mahindra: +3.19%
- HCL Technologies: +2.92%
- Axis Bank: +2.62%
- Kotak Mahindra Bank: +2.49%
Top losers include:
- Adani Ports: -1.32%
- Hindustan Unilever: -1.04%
- ITC: -1.04%
- Asian Paints: -0.99%
- Nestle India: -0.67%
- Sun Pharma: -0.40%
Dividend Announcement
Muthoot Finance announced an interim dividend of ₹26 per share (260%) for the financial year 2024-25. The dividend is on a face value of ₹10 per share.
Global Markets Update
US stock markets experienced a downturn on Monday. Former President Donald Trump’s criticism of Federal Reserve Chairman Jerome Powell contributed to investor concerns. Trump warned of a potential economic slowdown unless interest rates are lowered. At 11:55 PM IST, the indices showed:
- Dow Jones: -3.14%
- Nasdaq: -3.45%
- S&P 500: -3.24%
Quarterly Results Drive Growth
Positive quarterly results have boosted investor sentiment.
- ICICI Bank hit a 52-week high of ₹1,437, closing at ₹1,409.40 (+0.20%).
- HDFC Bank peaked at ₹1,950, ending at ₹1,927.55 (+1.10%).
- Infosys shares rose 2.13%, closing at ₹1,471.50.
Tags Cloud
