Sensex ends 746 points higher, Nifty nears 24,600 on Monday
The Indian equity markets witnessed a significant surge on Monday, with the benchmark index Sensex jumping 746 points to close at 80,604, while Nifty neared the 24,600 level, climbing 221.75 points. The market’s performance was led by a slew of stocks, which saw significant gains, while a few others faced losses.
Top Gainers on Sensex
The top gainers on the Sensex index were Tata Motors, Eternal, Trent, and SBI. Tata Motors, the flagship company of the Tata Group, rose by 4.64%, while Eternal, a leading financial services company, soared by 5.64%. Trent, a fashion and lifestyle brand, and SBI, one of India’s largest banks, also saw significant gains of 4.14% and 3.53%, respectively.
Losers on Sensex
On the other hand, Bharat Electronics, Bharti Airtel, and Maruti Suzuki were among the losers on the Sensex index. Bharat Electronics, a leading defense company, fell by 1.35%, while Bharti Airtel, the country’s largest telecom operator, declined by 1.14%. Maruti Suzuki, India’s largest automobile manufacturer, also saw a decline of 0.94%.
Biggest Nifty Gainers
The top gainers on the Nifty 50 index were Adani Enterprises, Tata Motors, Eternal, Grasim Industries, and Apollo Hospitals. Adani Enterprises, the flagship company of the Adani Group, rose by 4.48%, while Tata Motors gained 4.35%. Eternal and Grasim Industries also saw significant gains of 5.64% and 4.14%, respectively. Apollo Hospitals, a leading healthcare provider, rose by 3.85%.
Market Commentary
The market’s strong performance on Monday was attributed to a range of factors, including positive investor sentiment, strong economic indicators, and a lack of significant disappointments in the earnings season. The Sensex and Nifty 50 indices have been on a tear in recent weeks, with the former rising by over 10% in the past month.
Economic Indicators
The Indian economy has been showing signs of recovery in recent times, with the country’s GDP growth rate accelerating to 7.2% in the April-June quarter. The government’s efforts to stimulate the economy through fiscal and monetary measures have also been paying off, with the country’s inflation rate remaining under control.
Investor Sentiment
Investor sentiment has been positive in recent weeks, with the Sensex and Nifty 50 indices witnessing significant gains. The market’s strong performance has been led by a range of stocks, including those from the banking, automotive, and consumer goods sectors.
Conclusion
The Indian equity markets witnessed a strong surge on Monday, with the Sensex and Nifty 50 indices rising by 746 points and 221.75 points, respectively. The market’s performance was led by a slew of stocks, which saw significant gains, while a few others faced losses. The Sensex and Nifty 50 indices have been on a tear in recent weeks, with the former rising by over 10% in the past month. The market’s strong performance is attributed to positive investor sentiment, strong economic indicators, and a lack of significant disappointments in the earnings season.
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