Closing Bells: The Indian Benchmark Made a Bright Start to the Week

The Indian bellwether indices closed Monday over 1% higher on the back of an excellent show put up by the financial and metal stocks. Also, the positive global cues helped their cause. The pharma sector was the only sectoral index that closed the day in the red as investors booked their profits to exit.

The S&P BSE Sensex closed Monday at 48,386.51 points. Over the day, it zoomed by 1.06% or 508.06 points. Among the 30 stocks that form the Sensex index, twenty-two of them closed higher, three ended the day nearly flat, while the remaining five stocks wrapped up Monday’s business hours in the red.

The financial indices led the gains in the index, with Axis Bank and ICICI Bank emerging as the top gainers. Their share price enhanced by 4.4% and 3.63%, respectively. SBI, Kotak Bank, Baja Finance, IndusInd Bank, Bajaj Finserv, and HDFC saw their share price expand by 2.35%, 1.4%, 1.4%, 1%, 0.8%, and 0.47%, respectively over the day.

Also Read: Closing Bells: The BSE Sensex Close the Day Over the 48,000 Levels

UltraTech Cement, Hindustan Unilever, PowerGrid, Bajaj Auto, and Reliance witnessed their share price go up by 3.61%, 2.27%, 1.94%, 1.84%, and 1.74%, respectively, on Monday. The other stocks to close the day higher were Asian Paints, Nestle India, Tech Mahindra, Titan, Bharti Airtel, L&T, Infosys, ONGC, and M&M.

Dr Reddy’s, NTPC, and ITC closed the day nearly flat as their share price moved by 0.05%, 0% and -0.02%, respectively. HCL Tech was the biggest loser among the Sensex stocks. Its share price collapsed by 2.87%. HDFC Bank was the only financial stock to close the day lower. Its share price tanked by 0.66%. The other stocks to close the day in the adverse terrain are Maruti, Sun Pharma, and TCS.

The NSE Nifty 50 closed Monday at the 14,485 levels. It managed to add 1% or 143.65 points to its tally over the day. Among the fifty stocks that constitute the Nifty index, 39 closed in the green, while the remaining eleven lost. With a gain of 4.19%, Axis Bank emerged as the top gainer, while CIPLA dropped 2.96% to close as the top loser among the Nifty indices.

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

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