New Delhi/Mumbai: The first trading day of the week ended on a positive note on Monday. Following this, the Mumbai stock market index Sensex rose 468 points to stabilize. The national stock market index Nifty rose 151.45 points to settle at 18,420.45.
Global stock markets fell at the end of last week following further interest rate hikes by the US and European Central Banks. The impact was reflected in the domestic market as well. In this situation, the domestic market ended a positive two-day streak of decline. Brokerages said there was good buying in banking, oil, auto, metal and FMCG stocks amid low prices.
Sensex advance: The Sensex, which opened the morning up 67.99 points at 61,405.80, settled down at 61,265.31. The Sensex, which later touched a high of 61,844.92, ended up 468.38 points (0.76 per cent) at 61,806.19. On the Sensex list, 6 stocks came in the low list and 24 stocks in the high list.
M&M Abaram: After facing a heavy sell-off at the end of last week, shares of popular auto maker M&M led the gainers’ list with a rise of 2.97 percent on Monday. Next to this, Power Grid, Bharti Airtel, Bajaj Finsav among others rose between 2 and 2.60 percent. Also, Hindustan Unilever, HDFC, Maruti Suzuki, ITC, Titan among others rose between 1.50 and 1.70 percent. Also, market leader Reliance, HDFC Bank, ICICI Bank, Axis Bank, SBI, Kotak Bank and others came in the gainer list.
TCS declines: Meanwhile, IT major TCS led the decliner list with a decline of 1.13 percent. Also, Infosys, Tata Motors, SunPharma, Indus Ind Bank, Wipro and others declined between 0.20 and 1 percent.
Market capitalization: The market capitalization of the Mumbai Stock Exchange (BSE) rose by Rs 2.44 lakh crore overnight to close at Rs 287.90 lakh crore. Foreign institutional investors (FIIs) sold stocks to the tune of Rs 1,975.44 crore on Friday, the last trading day, according to market statistics.