Indian equity markets closed the session on a positive note, near the day’s high. The Nifty 50 closed the session over 150 points higher, ending above 24,700, and the Sensex ended the day more than 400 points or 0.52% points higher at 81,000.
The Nifty Bank settled without a single point’s change at 56,619. In line with the overall bullish sentiments, the BSE Midcap surged 503 points, or 1.11%, higher at 45,657.97. On the other hand, the BSE Smallcap rose almost 400 points to finish at 52,972.
“The domestic equity market edged higher, supported by strong performance in the metal and auto sectors. A weakening U.S. dollar, along with robust monthly auto sales and encouraging quarterly results from leading automakers, helped renew investor interest in these sectors. The Q1 earnings summary indicates that consumption-driven companies are benefiting from a rebound in volume demand. Meanwhile, rising unemployment and slower job creation in the US have reinforced expectations of a potential FED rate cut. However, there still remains room for caution due to high US tariffs,” said Vinod Nair, Head of Research at Geojit Investments.
“A recurring pattern observed in recent weeks is that the benchmark tends to trade with a positive bias during the first half of the week, only to witness renewed selling pressure in the latter half. Hence, participants should avoid reading too much into a single-day rebound or pause and instead focus on the sustainability of the move. A decisive break above 24,800 could trigger further upside toward the 25,000 mark, which acts as the next key resistance. Conversely, a close below 24,600 would indicate a resumption of the corrective phase,” said Ajit Mishra, Senior Vice President of Research at Religare Broking.
5 big highlights from today’s market action-
Indices in intraday trade
The indices closed Monday’s session on a lower note. During the session, out of 3,093 trading stocks, 1,833 advanced, while 1,168 declined, and 92 remained unchanged. Today, 48 stocks hit a fresh 52-week high. Meanwhile, 70 stocks touched a new 52-week low.
Top gainers
Hero MotoCorp was the clear winner in the Nifty 50 in Monday’s session, closing 5.18% higher. It was followed by Tata Steel, Adani Ports and SEZ, Bharat Electronics, and JSW Steel.
Top losers
Power Grid Corp’s shares were the biggest losers in today’s trade, declining 1.12%. It was followed by HDFC Bank, ONGC, Apollo Hospitals, ICICI Bank, and many others.
Top sectors in Monday’s trade
The Iron and Steel sector’s stocks topped the chart in Monday’s trade, gaining 2.87% in the market capitalisation. Defence stocks trailed Iron and Steel, which was further followed by the Infrastructure sector stocks. The Metals – Non Ferrous sector stood behind the Auto Ancillaries sector. However, Electronics sector stocks fell in Monday’s strong trade.
Best and worst performing business groups
The Hero Group’s market cap surged the most in today’s session, rising 5%. It was followed by the Nagarjuna Group. Apart from that, the Anil Dhirubhai Ambani Group’s market capitalisation was erased the most, falling 4.4%. In the list of Anil Dhirubhai Ambani Group stocks, Reliance Power and Infrastructure were locked in the lower circuit.