Indian equity benchmarks closed Monday’s session on a positive note, near the day’s high. The Nifty 50 closed the session 200 points or 0.81% higher at 24,625, and the Sensex surged 550 points or 0.70% to end at 80,365.
Similarly, the Nifty Bank was in line with the overall market, settling 345 points or 0.65% higher at 54,000. The small and midcap stocks rallied, outperforming the benchmarks. The BSE Midcap declined 730 points, or 1.64%, at 45,375. On the other hand, the BSE Smallcap finished 767 points or 1.50% lower at 52,216.64.
“India’s Q1 GDP growth of 7.8%, exceeding projections, has reinforced investor confidence in the economy’s resilience amid global uncertainties. Expectations of GST rationalisation at the upcoming council meeting continue to bolster sentiment, supporting discretionary consumption. This optimism is particularly benefiting sectors such as Auto and Consumer Durables,” said Vinod Nair, Head of Research at Geojit Investments.
However, the risk of a potential revenue shortfall from proposed GST slab adjustments has heightened concerns over increased government borrowing, pushing domestic bond yields higher. Additionally, the impact of recently imposed tariffs is expected to become more evident from Q2 onwards, with markets awaiting greater clarity on their wider economic implications, which will be pivotal in determining near-term market trends,” added Nair.
5 big highlights from today’s market action-
Indices in intraday trade
The indices closed Monday’s session on a positive note. During the session, out of 3,156 trading stocks, 2,133 advanced, while 935 declined, and 88 remained unchanged. Today, 96 stocks hit a fresh 52-week high. Meanwhile, 71 stocks touched a new 52-week low.
Top gainers
Bajaj Auto was the top gainer in the Nifty 50 in Monday’s session, closing 4% higher. It was followed by Mahindra & Mahindra, Hero MotoCorp, Eicher Motors, and Tata Motors.
Top losers
Sun Pharma’s shares were the biggest losers in today’s trade, declining 1.91%. It was followed by ITC, Hindustan Unilever, Titan, Cipla, and many others.
Top sectors in Monday’s trade
The Electronics sector’s stocks rose the most in Monday’s weak trade, rising 5% in the market capitalisation. Further, Metals – Non Ferrous stocks were followed by Consumer Durables sector stocks, which were further followed by the Auto Ancillaries sector stocks. The Glass stood behind the Capital Markets sector. However, the Tobacco sector stocks fell the most.
Best and worst performing business groups
The BK Birla Group’s market cap declined the most in today’s session, rising 4.67%. It was followed by the Vedanta Group. Apart from that, the Essel Group’s market capitalisation was erased the most, falling 1.6%. In the list of Essel Group stocks, Zee Entertainment Enterprises’ share fell 1.8%.