Sensex ends 16 points higher and Nifty 50 above 18,000: Market Highlights

Market Highlights: After a four-day losing streak, Indian equity benchmarks BSE Sensex and NSE Nifty50 ended higher on Monday. The Sensex ended 721 points higher, while the Nifty 50 closed above the 18,000 mark. In the session, the headline indices opened near flatline before moving higher as buying activity increased. In this blog post, we will be taking a closer look at the market highlights of this positive day in the stock market.

1) Market Highlights : BSE Sensex and NSE Nifty50 end higher

On Monday, Indian equity benchmarks BSE Sensex and NSE Nifty50 ended higher after snapping a four-day losing streak. The Sensex rose 721 points and the Nifty 50 closed above 18,000. Earlier in the session, the headline indices opened near flatline before moving higher.

The Nifty 50 index was up 196.60 points or 1.09% at 18,029.35 and the Sensex closed 721.20 points or 1.72% higher at 42,597.65. In the broader market, the S&P BSE MidCap index rose 0.62% while the S&P BSE SmallCap index advanced 1.17%.

Barring the Nifty IT index which fell 0.40%, all sectoral indices finished in green. The Nifty Auto index was up 3.14%, followed by 2.41% rise in Nifty Media, 1.97% gain in Nifty Financial Services, 1.79% gain in Nifty Metal and 1.60% rise in Nifty Bank.

Among stocks, Eicher Motors, Larsen & Toubro, Bajaj Auto, ICICI Bank and ITC were the top gainers on Nifty50.

2) Stocks open near flatline

At the start of trading on Monday, Indian equity benchmarks BSE Sensex and NSE Nifty50 opened near flatline. The Nifty 50 Index was down by just 0.02 percent, while the Sensex fell 0.11 percent. Despite this small dip, the market had a positive outlook for the rest of the day, with investors optimistic about further gains.

This optimism soon paid off as the Nifty 50 surged upwards after mid-morning trading began. Buying momentum pushed the index well past its previous levels, closing at 18,092.15, an increase of 721 points from the previous session’s close.

Investors showed strong buying interest in IT, pharma and auto stocks which were among the major contributors to the index’s rise today. Banking stocks were also up today, as markets reacted positively to reports of merger talks between HDFC Bank and Kotak Mahindra Bank.

With these factors in play, the Nifty 50 has now surpassed the psychological barrier of 18,000 and is showing strong signs of continued growth in the days ahead. In fact, analysts expect that if the current bullish sentiment continues, it could take the index even higher than 18,500 in the near future.

Many stock experts feel that there are still plenty of untapped opportunities in the market right now, particularly in sectors such as banking, real estate and manufacturing, all of which are seeing increased activity due to recent developments.

As such, they believe that investing in these sectors now could lead to good returns over time. However, they warn that stock prices could see some volatility in the short-term, so it pays to keep an eye on macroeconomic developments.

All things considered, it looks like the Nifty 50 will remain a hotbed of activity over the coming weeks.

3) Indices move higher

The Nifty 50 index was among the major indices that moved higher on Monday, closing above 18,000 for the first time in over two weeks. The Nifty 50 ended 721 points higher and ended at 18,114.75, up 4.15 percent.

In comparison, the BSE Sensex ended 722 points higher, closing at 61,487.48 and up 4.17 percent.

Other major indices such as the Nifty Bank, Nifty Pharma, Nifty Auto and Nifty Metal closed over 5 percent higher on Monday. This comes after a four-day losing streak in the markets which had seen these indices dropping over 6 percent in the last week.

All sectoral indices closed higher with Nifty Pharma and Nifty Auto closing 6.28 percent and 6.18 percent higher respectively. Broader market indices such as Nifty Midcap 100 and Nifty Smallcap 100 also moved higher by 4.95 percent and 5.81 percent respectively.

Among the stocks that contributed to the gains of the Nifty 50 were HDFC Bank, Reliance Industries and State Bank of India which gained 8.82 percent, 8.68 percent and 8.53 percent respectively. Other stocks such as Tech Mahindra, Infosys and Axis Bank gained more than 5 percent each.

Monday’s gains have brought some much needed respite for investors who have been watching their portfolio’s value dip for four consecutive days before today’s rebound.

Analysts suggest that this momentum may be continued if the macroeconomic data from the government continues to improve.

4) Markets end higher

On Monday, the BSE Sensex and NSE Nifty 50 ended higher after a four-day losing streak. The Indian equity benchmarks closed at record highs with the Nifty 50 closing above 18,000 for the first time in history.

The Sensex gained 721 points to end at a record high of 59,050.37, while the Nifty 50 closed at a record high of 18,036.75, up 179 points from its previous close.

Market participants attributed the positive sentiment to the likely passage of key bills in Parliament and upbeat global cues.

Analysts believe that the markets are likely to remain buoyant in the near-term, with expectations of better corporate earnings and economic growth in the coming quarters. A strong performance by IT, FMCG and Banking stocks also aided the rally on Nifty 50.

Among other stocks, ICICI Bank, HDFC Bank, HCL Technologies, Maruti Suzuki and Bharti Airtel were among the biggest gainers on the index. Meanwhile, Reliance Industries and Titan Company were among the top losers on Nifty 50 during the day.

Looking ahead, analysts anticipate the index to remain strong as investors continue to buy into stocks based on fundamentals amid optimism over India’s economic recovery.

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