There was a boom in the stock market on the first trading day of the week. Both Sensex and Nifty closed with green mark. Sensex closed up 401 points at 60056 while Nifty closed up 119 points at 17743. HDFCLIFE, TATACONSUM, WIPRO, AXISBANK, ICICIBANK gained in Nifty while DRREDDY, INDUSINDBK, CIPLA, DIVISLAB, MARUTI declined.
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The effect of improving investor sentiment due to good quarterly results of major companies and softening of crude oil prices was reflected in the rise in the local stock market on Monday and the Sensex jumped 401 points to cross the 60,000-mark again. At the end of volatile trading, the 30-share BSE Sensex closed at 60,056.10 points, up 401.04 points, or 0.67 percent. During the trading, the Sensex also went to a high level of 60,101.64 and a low of 59,620.11 points.
The National Stock Exchange’s Nifty also gained 119.35 points, or 0.68 percent, to reach 17,743.40 points.
Among the Sensex companies, Wipro, Axis Bank, Titan, UltraTech Cement, HDFC Bank, HDFC, HCL Tech and Reliance Industries closed with gains. Shares of Reliance, which posted a record profit of Rs 19,299 crore in the March quarter, rose 0.35 per cent.
On the other hand, shares of Bajaj Finance, Infosys, Mahindra & Mahindra and Maruti Suzuki declined.
According to experts, traders were cautious due to weak global signals, but their business sentiment improved due to the good results of some big companies of the domestic market.
Vinod Nair, Head of Research, Geojit Financial Services, said, “Weak global cues raised some concerns during the trade, but the banking sector worked to fuel this rally.”
A mixed trend was seen in other Asian markets. Japan’s Nikkei closed with gains, while China’s Shanghai Composite and Hong Kong’s Hangseng declined.
European markets were also trading with a fall in the afternoon session. A mixed trend was seen in the US markets on Friday, the last trading day of last week.
Meanwhile, international oil benchmark Brent crude declined by 0.21 per cent to trade at $81.49 per barrel.
The selling trend of foreign institutional investors continued. According to available data, foreign investors sold shares worth Rs 2,116.76 crore on Friday.