The Indian stock market closed Monday’s trading session on a positive note, buoyed by solid third-quarter earnings and optimism surrounding US President-elect Donald Trump’s upcoming inauguration as the 47th President of the United States.
The BSE Sensex climbed 454 points or 0.59%, closing at 77,073.44, while the Nifty 50 advanced by 141.55 points or 0.61% to close at 18,283.90.
Out of the 50 Nifty stocks, 29 ended in the green during the session. On the Sensex, 19 stocks recorded gains. Market analysts attributed the uptrend to positive cues from Asian and European markets, driven by growing anticipation around Trump’s leadership. Banking and telecom sectors were at the forefront of the recovery.
Prashanth Tapse, Senior Vice President of Research at Mehta Equities, said, “While the market gains are influenced by sentiment, the prevailing mood is one of caution, with volatility persisting. Domestic investors are primarily focusing on the Union Budget announcement on February 1 and its measures to tackle the ongoing economic slowdown. Trump’s trade policies also add an element of uncertainty.”
Among the top gainers on the Nifty 50 was Kotak Mahindra Bank, which surged 9.35%. Other notable gainers included Wipro, NTPC, Bajaj Finserv, and Bajaj Finance. On the downside, SBI Life emerged as the session’s biggest loser, followed by Tech Mahindra, TCS, HDFC Life, and others.
Kotak Mahindra Bank also led gains on the BSE Sensex, followed by SBI, NTPC, and Bajaj Finance. Meanwhile, TCS topped the list of losers, followed by Tech Mahindra, ITC, and others.
Sectorally, private banks led the day’s gains, with PSU banks seeing an increase of 2.28%, followed by financial services. However, the auto index posted the largest loss, trailed by FMCG and IT sectors.
Experts noted that robust sentiment across Asian markets provided a solid boost to domestic indices, setting the tone for a strong start to the week.
–IANS
