The Indian Benchmark Indices Made Good Start to the Week

The Indian benchmark indices have made an excellent start to the week as both Sensex, and Nifty closed the first business day of the week nearly 1.25% higher. Both the benchmark indices closed the day at record highs. The gains in the indices are attributed to the rallying of auto and metal stocks and global indices. 

The S&P BSE Sensex closed Monday at 51,348.77 points. It shot up by 617.14 points or 1.22% over the day. Among the thirty stocks that form the Sensex index, twenty-four of them advanced while the remaining six tanked. M&M led the gains in the index; its share price soared 7.23% over Monday. 

Bajaj Finserv and Bharti Airtel followed. Their share price expanded by 3.24% and 2.77% respectively. PowerGrid, Infosys, ICICI Bank, Tech Mahindra, L&T, Axis Bank, ONGC and Titan saw their share price surge over 2%. The following stocks witnessed their share price jump over 1%: TCS, Asian Paints, Reliance, HCL Tech, Dr Reddy’s, IndusInd Bank, and Maruti. 

The other stocks to close the day higher are SBI, NTPC, HDFC, Nestle India, HDFC Bank, and UltraTech Cement. Hindustan Unilever and Kotak Bank led the curtailing of gains in the index; their share price fell by 1.43% and 1.32% respectively. Bajaj Finance, ITC, Bajaj Auto, and Sun Pharma are the other stocks to close the day lower. 

The NSE Nifty 50 closed the day 1.28% or 191.55 points higher. It wrapped up Monday by 15,115.80 points. Forty of the fifty stocks that form the index closed the day in the green territory while the remaining ten dropped. M&M, Tata Motors and Hindalco powered the index as their share price increased by 7.36%, 6.41% and 6.12%. 

Britannia emerged as the top loser in the index. Its share price went down by 1.83%. Hindustan Unilever and Kotak Bank followed by losing 1.56% and 1.38% respectively. Divi’s Laboratory, Bajaj Finance, SBI Life, ITC, Sun Pharma, Bajaj Auto and Cipla are the other stocks that witnessed a reduction in their share price over the day. 

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

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