Closing Bells: Financial Stocks Power Sensex Close Monday Higher

The Indian benchmark indices S&P BSE Sensex and NSE Nifty 50 opened the week on a bright note. They managed to close the day by nearly 1% higher. The gains in the cues are attributed to the stellar performance shown by the financial stocks, strong global indices, and the appreciation of rupee against the greenback. 

The S&P BSE Sensex wrapped up the day at 38,799.08 points. It shot up by 0.95% or 364.36 points. Among the thirty stocks that constitute the Sensex index, 16 of them folded in the positive territory while the remaining 14 closed in the red. Kotak Bank emerged as the most significant gainer. It’s share price enhanced by 3.53%. 

It was followed by IndusInd Bank, Bajaj Finance, HDFC Bank, ICICI Bank, Bajaj Finserv, and SBI, whose share price leapt ahead by 3.03%, 2.97%, 2.86%, 2.44%, 1.85%, and 1.54% respectively. HDFC and Axis Bank did not fall behind, as they also gained 1.49% and 1.20% respectively. 

Also Read: Indian Benchmark Indices Close Thursday Nearly Flat, but in the Red

The tech stocks were on the downward run as the share price of Tech Mahindra, Infosys, HCL Tech, and TCS collapsed by 1.33%, 0.17%, 0.07%, and 0.01% respectively. PowerGrid and M&M turned out to be the top losers as their share price dropped by 2.06% and 1.34% respectively. 

The NSE Nifty 50 surged by 94.85 points or 0.83 points. It marked the end of Monday’s trading hours by wrapping up at 11,466.45 points. Out of the fifty stocks that constitute the Nifty index, 24 of them advanced, 25 of them tanked while the remaining one stock closed the day unchanged.

Barring Nifty Realty, Nifty Pharma, and Nifty IT, all other sectoral indices on the National Stock Exchange (NSE) ended in the favourable terrain. The NSE Nifty Private Bank gained the most (2.45%), while the NSE Nifty Realty collapsed the most (1%). India VIX, the volatility gauge, lost 3.55% or 0.71 points to close at 19.23 points. 

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

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