Indian equity benchmarks closed Monday’s trade on a higher note, extending the winning streak to six consecutive sessions. The Nifty 50 ended the day 103 points or 0.40% higher at 26,103, closing above the 26,000 level after 12 trading sessions. The BSE Sensex jumped 388 points or 0.46% to end at 84,950.
The banking stocks outperformed the benchmarks. The Nifty Bank settled 445 points or 0.76% higher at 58,963. The midcap and smallcap stocks also rose in today’s trade. The BSE Midcap finished 313 points or 0.66% higher at 47,500. The BSE Smallcap finished 313 points or 0.59% higher at 53,443.
Summing up today’s trade, Vinod Nair, Head of Research at Geojit Investments, said that the markets maintained their positive momentum, hovering near the key psychological level of 26,000, as investors anticipate a strong catalyst for further upward movement. “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,” he said.
Big highlights from today’s market action-
Indices in intraday trade
The indices closed the trade on a higher note. During the session, out of 3,253 trading stocks, 1,651 advanced, while 1,523 declined, and 79 remained unchanged. Today, 108 stocks hit a fresh 52-week high. Meanwhile, 145 stocks touched a new 52-week low.
Top gainers
Eternal (Zomato) was the top gainer in the Nifty 50 in Monday’s session, closing 1.9% higher. It was followed by Tata Consumer Products, Max Healthcare Institute, Eicher Motors, and Maruti Suzuki.
Top losers
Tata Motors PV’s shares were the biggest losers in today’s trade, declining 4.7%. It was followed by UltraTech Cement, Jio Financial Services, Asian Paints, and HDFC Life Insurance were the only losers.
Top sectors in Monday’s trade
The Glass sector’s stocks rose the most in Monday’s trade, rising 1.9% in the market capitalisation. Further, Internet & E-Commerce stocks were followed by the Tea and Coffee sector stocks, which were further followed by the Agriculture sector stocks. However, the Plastics sector stocks fell the most.
Best and worst performing business groups
The Hero Group’s market cap rose the most in today’s session, rising 4.8%. It was followed by the Nagarjuna Group. Apart from that, Future Group’s market capitalisation rose the most, increasing 3.5%. In the list of Future Group stocks, Future Supply Chain Solutions’ share rallied 5%.