Benchmark Indices Up Amid Positive Global Cues; Kotak Mahindra Bank and Wipro Propel Rally
The Sensex climbed 0.59 per cent to close at 77,073.44, while the Nifty 50 rose 0.61 per cent to settle at 23,344.75.
Market Update at 3:30 PM: Indian equity markets ended with gains on Monday, buoyed by positive global sentiment and robust buying across financial and IT counters. The Sensex climbed 0.59 per cent to close at 77,073.44, while the Nifty 50 rose 0.61 per cent to settle at 23,344.75.
Broader indices also participated in the rally, with the Nifty Midcap 150 advancing 0.77 per cent to 20,350.90, and the Nifty Smallcap 250 gaining 0.84 per cent to 16,841.40.
However, market volatility edged higher as the India VIX surged 4.23 per cent to 16.42, reflecting increased nervousness among market participants.
Among sectoral indices, Nifty Private Bank, Nifty PSU Bank, and Nifty Bank were the top outperformers. Conversely, Nifty Auto, Nifty FMCG, and Nifty IT were the leading laggards for the day.
In the Nifty 50 basket, Kotak Mahindra Bank led the charge, soaring 9.06 per cent to Rs 1,918. It was followed by Wipro, which surged 6.58 per cent to Rs 300.50, and Bajaj Finance, up 3.42 per cent to Rs 7,427.50. On the downside, SBI Life was the top loser, slipping 2.82 per cent to Rs 1,497, trailed by Trent, down 2.20 per cent to Rs 6,079.95, and Shriram Finance, which declined 1.98 per cent to Rs 516.10.
The market breadth remained firmly positive, with 1,809 stocks advancing against 1,053 stocks declining on the NSE, showcasing broad-based buying interest across segments.
Market Update at 9:45 AM: The equity markets started the day on a subdued note, displaying mixed trends in early trade. The Sensex inched up by 0.12 per cent, trading at 76,708.12, while the Nifty 50 registered a marginal gain of 0.05 per cent to stand at 23,215.20.
Broader indices reflected slight bearish tendencies. The Nifty Midcap 150 slipped by 0.22 per cent to 20,151.20, while the Nifty Smallcap 250 saw a minor dip of 0.02 per cent, settling at 16,697.95. Market volatility surged notably, with the India VIX climbing 7.11 per cent to 16.87, indicating heightened uncertainty among investors.
Among the sectoral indices, Nifty Private Bank, Nifty PSU Bank, and Nifty Bank emerged as the top performers, reflecting strong buying interest. Conversely, Nifty Auto, Nifty Healthcare, and Nifty Pharma were the worst hit, showing notable declines.
Within the Nifty 50 pack, Kotak Mahindra Bank, Wipro, and NTPC were the leading gainers. On the other hand, Shriram Finance, SBI Life Insurance, and IndusInd Bank were the top laggards.
The market breadth indicated cautious sentiment, with 1,357 stocks advancing against 1,077 stocks declining.
Disclaimer: The article is for informational purposes only and not investment advice.