Sensex up 433 pts, Nifty end above 15800, IT stocks rally
Sensex and Nifty Today: Indian stock markets opened a gap-up on Monday amid positive cues from the global markets. The Nifty today opened at 15926.20 levels up by 226.95 points while Sensex also made a higher opening by 740.91 points at 53468.89 levels. Indian markets trimmed some intraday gains but remained positive and traded above their psychological levels throughout the day.
Stock Markets News and Updates Today
Other than the strong global cues, the market sentiments were upbeat as the Reserve Bank of India (RBI)stated that the net profits of manufacturing companies surged by 50.2 percent during 2021-22, the input cost pressures notwithstanding. It said the net profit also increased for the information technology (IT) companies, whereas the non-IT services sector continued to record losses at the aggregate level.
The traders got encouraged as Commerce and Industry Minister Piyush Goyal said India is one of the fastest-growing economies in the world and it is expected to reach $30 trillion in the coming 30 years. He further shows the calculation that if India grows at 8 percent every year on a compounded annual growth basis, the economy will double in about nine years.
On the global front, Asian markets were mostly closed higher on Monday tracking the positive cues from Wall Street on Friday closing. After the release of US economic data, the last weekend, investors feel that US inflation is peaking and the world’s largest economy is still on a solid footing. European markets are trading higher on Monday, tracking positive cues from the Asian market peers, as the easing of covid-19 restrictions in China lifted the sentiments.
Sensex and Nifty at the close today
The Nifty index gained by 132.80 points or 0.85 percent and closed at 15832.05 levels while Sensex was up by 433.30 points or 0.82 percent and finished at 53161.28 levels. The Bank Nifty index ended higher today by 183.80 points or 0.55 percent on the spot level and ended at 33811.25
The broader markets outperformed, as the Nifty midcap index gained by 264.20 points or 1 percent and closed at 26713.25 levels. The Nifty smallcap index closed higher by 171.05 points or 2.04 percent and finished at the 8561.70 level
Nifty top gainers and losers today
The top gainer in the Nifty50 index was Coal India, ONGC, Larsen, HCL tech, and Tech Mahindra whereas the top loser was Apollo Hospital, Eicher Motors, HDFC Life, Kotak Mahindra, and Reliance
The top gainers in the Nifty midcap index were City Union Bank, Dhani Services, and JSW Energy, and the top losers were Oil India, Fortis Health, and Chola Invest.
The smallcap top gainers were Carborumdum, Route, and Firstsource solution and the top losers were Future retail, APL Apollo, and Shilpa
The most active stocks in the Nifty index in terms of value were Reliance, Maruti, and Bajaj Auto. The most active stocks in terms of volume were ONGC, Hindalco, and Power Grid
On a sectoral front, all sectoral indices were closed in the green today. The sectors that led the rally were IT, Metals, Auto, FMCG, and Oil & Gas.
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