The S&P BSE Sensex and NSE Nifty50 closed Monday nearly 0.75% higher. The IT and pharma stocks mostly led the gains in the indices. The financial stocks too weren’t far behind. The IT stocks were on the rise on the back of improved performance in the July-September quarter.
The S&P BSE Sensex closed at 38,973.70 points. It expanded by 0.71% or 276.65 points over the day. The index rose for the third consecutive day. Fifteen of the thirty stocks that constitute the Sensex index closed in the red, fourteen folded in the green while the remaining one stock ended flat.
The gains in the index were led by TCS, Tata Steel, Sun Pharma, and Infosys as their share price expanded by 7.30%, 4.71%, 3.23%, and 3.00% respectively. Tech Mahindra followed them, IndusInd Bank, HCL Tech, ICICI Bank, Hindustan Unilever, and Kotak Bank as their share price surged by 2,26%, 1.63%, 1.25%, 1.08%, 0.76%, and 0.73% respectively.
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HDFC Bank, Maruti Suzuki, Nestle India, and Axis Bank are the other shares whose price saw an increase of 0.68%, 0.34%, 0.26%, and 0.19% respectively. The share price of ONGC closed unchanged. Bajaj Finserv and Bajaj Finance curtailed the gains in the Sensex index as their share price went down by 2.87%, 1.86% respectively.
They were followed by Bharti Airtel, UltraTech Cement, and Bajaj Auto as their share price tanked by 1.85%, 1.31%, and 1.10% respectively. The share price of majors RIL and SBI collapsed by 0.62% and 0.84% respectively.
The NSE Nifty50 zoomed by 0.76% or 86.40 points, respectively. Twenty of the fifty stocks that form the Nifty index tanked while twenty-nine of them advanced whereas one stock closed flat. Bajaj Finserv emerged as the most significant loser while TCS turned out to be the top gainer in the index. India VIX, the volatility gauge closed at 19.70 points; it grew by 7.38% or 1.35 points.
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Engineer by qualification, financial writer by choice. I am always open to learning new things.
