Closing Bells: Both Sensex and Nifty Closed Monday Over 0.75% Higher

The Indian benchmark indices have made an excellent start to the week as both NSE Nifty 50 and S&P BSE Sensex closed the day over 0.75% higher. The gains in the indices are attributed to the rallying in the financial and FMCG stocks. These sectors experienced an intense buying trend. 

The S&P BSE Sensex closed the day at 45,426.97 points. It gained 0.77% or 347.42 points. As many as nineteen of the thirty stocks that constitute the Sensex index closed the day in the green, 10 in the unfavourable terrain while the remaining one stock closed Monday nearly flat. 

Hindustan Unilever, Bharti Airtel and HDFC led the gains in the index with their share price surging by 3.09%, 3.05%, and 2.54% respectively. ITC, Tech Mahindra and HDFC followed by gaining 2.50%, 2.41% and 2.41% respectively. Indian majors SBI, Infosys, Reliance, and TCS, saw their share price jumping by 2.37%, 0.83%, 0.59% and 0.37% respectively.

Also Read: Gold Price Trend Analysis: November 2020

Nestle India and Kotak Bank emerged as the top losers in the Sensex index as their share price reduced by 1.49% and 1.37% respectively. Tata Steel, Bajaj Finance and HDFC Bank followed with their share price dropping by 1.31%, 1.02%, and 0.94% respectively. 

The NSE Nifty 50 added 0.95% or 124.65 points to its tally over the day. It managed to close at 13,258.55 points. Only nineteen of the fifty stocks that form the Nifty index closed in the red while the remaining thirty-one ended the day in positive terrain. 

UPL and Adani Ports emerged as the most significant gainers as their share price increased by 4.56% and 3.59% respectively. SBI Life and Nestle India turned out to be the top losers in the index as their share price dropped 1.51% and 1.44% respectively. 

For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in