The Indian equity indices continued the previous week’s momentum, settling higher for the sixth consecutive session on Monday amid overall positive buying sentiment.
Sensex ended the session at 84,950.95, up 388.17 points or 0.46 per cent. The 30-share index opened with a decent gap-up at 84,700.50 against the previous session’s closing of 84,562.78. The index remained in positive territory throughout the session, touching an intra-day high at 84,988.09 and an intraday low at 84,581.08
Nifty closed at 26,013.45, up 103.40 points or 0.40 per cent.
The market has maintained its positive momentum, hovering near the key psychological level of 26,000, as investors anticipate a strong catalyst for further upward movement, said analysts.
A potential trade deal remains a crucial trigger that participants are closely monitoring.
Currently, the risk-reward ratio is largely favourable, bolstered by stronger-than-expected Q2 earnings from Midcaps, which have reinforced confidence in growth revival and point to potential future earnings upgrades, analysts added.
Eternal, Maruti Suzuki, Kotak Bank, Mahindra and Mahindra, Tech Mahindra, Titan, HDFC Bank, PowerGrid, HCL Tech, L&T and NTPC were the top gainers from the Sensex basket. Tata Motors PV, Asian Paints, Ultratech Cement and Tata Steel ended lower.
The majority of sectoral indices traded high amid overall buying sentiment. Nifty Fin Services rose 154 points or 0.56 per cent, Nifty Bank increased 445 points or 0.76 per cent, Nifty Auto jumped 232 points or 0.85 per cent, Nifty FMCG rose 116 points or 0.21 per cent, and Nifty IT closed 73 points or 0.2 per cent higher.
Broader indices followed suit as well. Nifty Smallcap 100 rose 95 points or 0.52 per cent, Nifty Midcap 100 surged 441 points or 0.73 per cent, and Nifty 100 increased 111 points or 0.42 per cent.
(IANS)
