Stock market update: Equity benchmark indices surged in early trade on Monday amid strong trends in Asian markets and unabated foreign fund outflows. In the early trade, the 30-share BSE Sensex rose 369.90 points to 76,989.23. Meanwhile, the Nifty was also up by 60.80 points to 23,264.
Top gainers and losers on the Indices
On the 30-stock BSE Sensex, 17 stocks showed positive movement, with key gainers including, Kotak Mahindra, SBI, Reliance Industries, Bajaj Finance, and Bharti Airtel. Meanwhile, the decliners on the Sensex were, IndusInd Bank, Adani Ports & SEZ, Tata Motors, Tata Steel, and ICICI Bank.
In the Nifty50, 18 stocks were higher, with standout performers: Kotak Mahindra Bank: Rising 8.22%, Wipro, SBI, NTPC, and Reliance Industries. The stocks that weighed down the index included Shriram Finance, SBI Life, IndusInd Bank, Tata Motors, and HCLTech.
Sector-wise Performance
Among the sectors, Private Banks led the gains with a rise of 1.52%, followed by Media with a 0.98% increase. Other sectors like Nifty Bank (up 0.57%), Consumer Durables (up 0.66%), and Financial Services also showed strong performance. In contrast, the Auto index emerged as the top loser, falling 0.65%, followed by Metal (down 0.44%), Pharma (down 0.13%), Healthcare (down 0.25%), and Oil (down 0.09%). Looking at the broader market, the Nifty Midcap 100 edged up by 0.07%, while the Nifty Smallcap 100 saw a marginal dip of 0.02%.
Rupee against dollar
Meanwhile, the Rupee appreciated 14 paise to 86.46 against the US dollar in morning trade on Monday, tracking a positive trend in domestic equities and Asian currencies. Forex traders said factors like elevated Dollar Index level as well as surging crude oil prices pose significant headwinds for the USD/INR pair. At the interbank foreign exchange, the rupee opened at 86.48 and touched 86.46 against the greenback, registering a gain of 14 paise over its previous close.
(With PTI inputs)
