In a positive start to the week, benchmark indices Sensex and Nifty witnessed a climb in early trade on Monday, buoyed by a rally in Asian markets, a decrease in Brent crude oil prices, and increased buying by foreign investors. The 30-share BSE Sensex surged by 639.85 points to 73,728.18, building on its previous day’s rebound. Meanwhile, the NSE Nifty rose by 190.1 points to 22,337.10, extending its upward trajectory.
Major gainers and laggards
Leading the gains in the Sensex basket were UltraTech Cement, Axis Bank, Bajaj Finance, Larsen & Toubro, Tata Steel, and Tata Motors. However, HDFC Bank, JSW Steel, Mahindra & Mahindra, and ITC experienced declines.
Asian markets and wall street
In Asian markets, Seoul, Tokyo, and Hong Kong traded positively, while Shanghai reported lower figures. On Wall Street, Friday’s session ended on a mixed note.
Oil prices and market sentiment
Global oil benchmark Brent crude witnessed a 0.74% decline, settling at USD 86.64 a barrel. Analysts noted that the market sentiment was bolstered by the expectation of decreased tension between Israel and Iran, reflected in the decline in Brent crude prices from $90 to $87.
Foreign investor activity
Foreign Institutional Investors (FIIs) turned buyers on Friday, injecting Rs 129.39 crore into equities, according to exchange data.
Previous session’s performance
On Friday, the BSE benchmark surged by 599.34 points to close at 73,088.33, while the NSE Nifty jumped by 151.15 points to 22,147, marking a positive end to the trading week.
Also read | Direct tax collections jump by 18 per cent to Rs 19.58 lakh crore, exceeds estimates in FY24