In the midst of a tumultuous session, Indian market Ended in positive territory on Monday. The 30 pack Sensex ended up 226.47 points or 0.41 per cent at 55,555.79 and the broader market Nifty 50 was up 46 points or 0.28 per cent at 16,496.50. Throughout the session, it touched a high of 55,781.17 and a low of 55,240.29 to finally close at 55,555.79. However, 15 out of 30 Sensex stocks closed on the red mark at the end of the day. On BSE, HCL Technologies, Nestle, TCS, Bajaj Finserv and Bharti Airtel were the top gainers in Nifty. Grasim Industries, Adani Ports, M&M, Eicher Motors and Bajaj Auto were among the top losers.
Among all sectoral indices, the Nifty IT index rose 1.7 per cent, while metal, auto and PSU Bank indices fell 0.5-1.5 per cent. The BSE Midcap index lost 0.90 per cent and Smallcap 1.5 per cent.
“Indian markets opened on a positive note following positive Asian markets cues after Hong Kong’s Hang Seng broke out of the bear zone seen last week. During the afternoon session, buying in TECK, IT and Energy stocks saw the market fall after the opening session. Gains in frontline blue chip stocks such as HCL Tech and TCS also helped lift the markets. Sentiments were upbeat as CRISIL Ratings revised India Inc’s credit quality outlook for FY2022 to positive from earlier,” said Narendra Solanki, Head – Equity Research (Fundamentals), Anand Rathi Shares & Stock Brokers. said.
In early trade on Monday, Indian equity benchmark Sensex and Nifty 50 opened in positive territory on the back of gains in global markets. The 30-share BSE opened 400 points higher at 55,758.84, while the Nifty 50 index opened up 141.75 or 0.86% at 16592.25.
Both the Sensex and Nifty entered the red zone at 10.57 am, although both the benchmark indices recovered to the green zone.
“Despite the narrative of earnings positive, profit-booking was witnessed in the broader markets today and listing of many HNIs seeking profit has been caught on the wrong foot in the recent primary market offerings. As indices ruled strongly on the back of IT stocks, several midcap names across sectors were seen under selling pressure in late afternoon trade, QSR basket also meeting with profit booking,” said S Ranganathan, Head of Research, LKP Securities. he said.
All sectoral indices opened in the green with Nifty Metal, Nifty Realty, Nifty Media and Nifty PSU Bank in early trade. Hindustan Unilever and Power Grid, Tata Consumer Products, Power Grid, Britannia, HUL and Adani Ports were the top gainers in early trade today.
“Despite a sharp start today, the domestic stock market remained volatile. Benchmark indices edged up marginally on firm cues from global equities, which was also supported by a sustained rebound in IT stocks. Nifty IT rose over 1.8% today, followed by Financials reporting marginal gains. Better visibility of sustained earnings growth with less volatility than other industries attracted to IT stocks. Midcap and small cap stocks remained under pressure, while volatility index shrank ~2%,” said Binod Modi, Head Strategy at Reliance Securities.
read all breaking newshandjob breaking news And coronavirus news Here
.