Indian stock markets traded lower for the third day in a row on Monday. The market ended the session with a 2 per cent rise following the rise in shares of leading companies.
US Federal Reserve: Trading in international markets was seen as gaining ground as inflation eased. Moreover, the stock market was favorable as investors emerged as the US Federal Reserve followed a softer trend in interest rates. In addition, reports that the monsoon has started early in Kerala have further strengthened the domestic market, said Ajith Misra, vice-president, Relico brokerage.
Corona freeze: Geojit Financial Services executive Vinod Nai said, ‘The full freeze has been implemented in China due to the increasing impact of the corona. In this context, the announcement of the current long-term freeze has greatly aided the rise of Asian markets. In addition, the optimism that the onset of the monsoon will boost agricultural productivity has boosted the growth of the domestic market.
Titan: Out of the 30 companies listed on the Bombay Stock Exchange, Titan topped the list with a high of 4.94 per cent. Shares of Mahindra & Mahindra were next with 4.69 per cent, Infosys 4.57 per cent, L&T 3.77 per cent and Tech Mahindra 3.5 per cent.
Reliance: Shares of Reliance Industries, which has the highest market capitalization, rose 3.44 per cent in early trade on Monday. Similarly, TCS shares rose 3.47 per cent, contributing to market gains.
In addition, HCL Tech, Ultratech Cement, Wipro and Bothi Aotel traded higher.
Kotak Mahindra: Meanwhile, shares of Kotak Mahindra, Sun Pharma, Docto Reddy’s Lab and ITC declined due to unpopularity from investors.
All the sectoral indices on the Mumbai Stock Exchange ended with gains.
Nuggets: In particular, the Nuggets device sector index grew by 4.41 per cent, real estate by 3.96 per cent, information technology by 3.75 per cent, technology by 3.53 per cent and energy sector index by 2.72 per cent.
The midcap index, which includes medium-sized companies, gained 2.28 percent and the smallcap index, which includes small companies, gained 2.23 percent.
The Sensex rose by 1,041.08 points, or 1.90 per cent, to 55,925.74 points in early trade on the Bombay Stock Exchange on Monday. This is the highest level in the last four weeks. Between trades, the Sensex gained 1,197.99 points (2.18%) to close at 56,082.65 points.
Out of the 30 companies that help calculate the Sensex, 26 stocks saw gains.
Nifty: The Nifty rose 308.95 points (1.89%) to a four-week high of 16,661.40 in early trade on Monday.
Shares of 45 of the 50 companies that help calculate the Nifty index were higher.
4% uptrend: The Sensex is up 4% at 2,176 points and the Nifty is up 3.92 points, or 635 points, in the three trading days till Monday.
Of the 3,615 companies listed on the Bombay Stock Exchange, 2,332 were up, 1,136 were down and 147 were up. 65 stocks hit a 52-week high and 53 company stocks hit a 52-week low.
Asian markets: Other Asian markets, such as Seoul, Shanghai, Tokyo and Hong Kong, ended higher, as corona restrictions in China eased and trading activity in Shanghai and Beijing intensified.
European markets remained volatile until the afternoon. Friday trading in US markets ended with a gain.
List
2255.25 Titan 4.94
997.90 M&M 4.69
1527.55 Infosys 4.57
1660.70 L&T 3.77
1163.90 Techmahindra 3.59
1039.70 HCLTech 3.57
3375.55 TCS 3.47
2663.75 Reliance 3.44
6100.45 Ultratech Cement 2.37
699.00 Baati Hotel 2.08
<!–
–>